BNP Paribas warns AI may reshape spending by India's affluent
Business
AI could shake up how India's wealthier crowd spends, with BNP Paribas warning that white-collar job losses might hit things like fast food and credit card use first.
Still, moves like GST, income tax cuts, and lower interest rates should help cushion the impact.
BNP Paribas forecasts Nifty 50 25,500
Even with these bumps ahead, BNP Paribas expects the Nifty 50 to climb to 25,500 by December 2026 thanks to steady earnings growth.
That said, wage growth has slowed and personal loan demand isn't as strong as before, especially as IT and finance jobs have seen slight declines, so spending habits among affluent Indians might be shifting as AI changes the job scene.