The Economic Times

Indias big upgrade wave: Rs 1 crore+ homes, premium cars, Swiss watches & pricier phones; how brands are chasing affluent demand beyond city limits

Premiumisation trend is spreading beyond affluent urban consumers, with households upgrading across homes, cars, travel, smartphones, appliances and everyday products. While 54% of home sales in eight major cities were priced above Rs 1 crore in the first half of 2026, companies are also seeing stronger premium demand in smaller towns and rural markets. Finance minister Nirmala Sitharaman said sustaining consumption growth will require this shift to extend beyond urban India as incomes and aspirations rise.