India Retains Its position As Global Leader In Consumer Sentiment

Last Updated:September 24, 2025, 08:17 IST

According to the report, India with its national index score of 57.0, is almost at the same level as August (57.6), displaying stability and resilience

Consumer sentiment has remained stable for India in September with no alarming changes in consumer sentiment from August. (Representative image)

India maintained its resilience by holding the second spot on the National Index and pipped Malaysia to top 30 countries on the national index score.

Consumer sentiment has remained stable for India in September with no alarming changes in consumer sentiment from August, according to the LSEG-Ipsos Primary Consumer Sentiment Index (PCSI), amid tough macro factors of global economic slowdown, Trump tariffs and the new tough ruling on immigration and jobs, by the Trump administration.

According to the report, India with its national index score of 57.0, is almost at the same level as August (57.6), displaying stability and resilience.

The report further stated that 11 others have shown a National Index at or above the 50-point mark: Singapore (54.4), Sweden (54.4), Malaysia (54.1), Australia (53.9), the Netherlands (52.8), Mexico (52.7), the U.S. (52.4), Indonesia (52.3), Brazil (51.7), Poland (50.6), and Ireland (50.0).

Meanwhile, four countries showed a National Index below the 40-point mark: France (39.9), Japan (37.3), Türkiye (35.4), and Hungary (34.7).

The Global Consumer Confidence Index is the average of all surveyed countries’ Overall or “National” indices. This month’s installment is based on a monthly survey of more than 21,000 adults under the age of 75 from 30 countries conducted on Ipsos’ Global Advisor online platform. This survey was fielded between August 22 and September 5.

Commenting on the report, Suresh Ramalingam, CEO of Ipsos India said: “Consumer sentiment in India has stabilised in September, following the anxiety and sharp decline witnessed in August. While global issues like Trump-era tariffs have had little direct impact on the average Indian consumer, domestic developments have played a key role in restoring confidence.”

“The government’s announcement of GST 2.0 reforms earlier this month, now effective from September 22, could bring a sense of relief and optimism among consumers who have been grappling with the high cost of living—despite some easing in food inflation.

With the onset of the festive season—Navratri, Dussehra, Diwali, Bhai Dooj, and more—consumers are likely to channel their savings from GST 2.0 into festive shopping and big-ticket purchases. This, in turn, is expected to drive higher demand across retail channels, benefiting both traders and brands,” he further said.

He added: “Domestic consumption continues to be a strong engine for economic growth. The rationalisation of GST rates is a significant win for consumers, with the new standard slabs set at 5% and 18%. For instance, the reduction in GST on passenger cars from 28% to 18% will result in considerable savings—one of many examples of how these reforms are creating a more favorable economic environment for both consumers and businesses.”

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