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SBI Mutual Fund has launched SBI Nifty India Consumption Index Fund, an open-ended scheme replicating Nifty India Consumption Index.
The underlying index gives exposure to 30 stocks across consumer non-durables, healthcare, auto, telecom services, pharmaceuticals, hotels, media & entertainment etc.
In a press release, Shamsher Singh, MD & CEO, SBI Funds Management said, “India’s consumption growth is at a pivotal moment, driven by rising incomes, demographic shifts and structural changes like digitalization and urbanization. Key factors include a young and growing population, increasing discretionary spending, and the rise of premiumization in urban areas. As India becomes one of the world's top consumer markets, sectors like consumer durables, retail, healthcare, luxury good, FMCG, aviation and ecommerce stand to benefit significantly.”
DP Singh, Deputy MD & Joint CEO, SBI Funds Management, said, “Domestic consumption has been India's primary economic growth engine, driving the nation to the next stage of its development. With rising incomes, spending on essential and discretionary items will boost industries like consumer durables, automobiles, healthcare, and retail. India's large, youthful population and increasing income levels provide a solid foundation for long-term growth in consumption driven sectors. This presents significant opportunities for businesses targeting India’s expanding middle class and affluent segments.”
