Consumer Sentiment in India Picks Up Pace in March, Up 0.9 Percentage Points
Consumer sentiment of Indians has shown recovery in March with an uptick of 0.9 percentage points. Further, sentiment for economy and jobs has seen a significant jump this month, compared to a subdued February 2026. These are some of the topline findings of the Ipsos Global Consumer Confidence Index for India, titled LSEG-Ipsos Primary Consumer Sentiment India, the industry bell wether for mapping consumer sentiment in 30 global markets including India.
Suresh Ramalingam, CEO, Ipsos India said, “India is clearly showing signs of recovery this March, with consumer sentiment on the rise and a particularly sharp uptick in confidence around the economy and jobs. What’s encouraging is that this momentum is not just domestic; globally, India is increasingly being seen as a high-potential market for both consumption and long-term growth. The recent India AI Impact Summit further reinforced this perception, highlighting India’s rapid AI adoption, deep talent pool, and strong capabilities in applied AI, large-scale digital infrastructure, and multilingual AI technologies. At the same time, the government’s continued focus on pro-business policies and a balanced geopolitical stance is strengthening investor confidence. The presence of prominent global industry captains at the summit underscored India’s ambitious vision for sovereign AI and its commitment to making these technologies accessible at scale. Backed by consistent GDP growth of over 7%, driven by a robust manufacturing sector, we are now also seeing early signs of a recovery in hiring, pointing to a broader, sustained economic resurgence.”
Consumer sentiment in 30 countries
Among the 30 countries, Malaysia (60.8) holds the highest National Index score. Malaysia is the only country this month to hold a National Index score of 60 or higher.
Twelve other countries now show a National Index at or above the 50-point mark: Indonesia (59.2), India (57.3), Thailand (56.4), Sweden (55.9), Singapore (54.0), the U.S. (53.3), Mexico (53.0), Brazil (52.2), Colombia (51.8), Spain (51.2), Australia (50.6), and South Korea (50.0).
In contrast, Türkiye (36.2) is the only country this month to show a National Index below the 40-point mark.
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 February 20 and March 6, 2026.
Strong upturn for the Economy and Jobs in the sub indices
Consumer outlook in March 2026 shows recovery with an increase in sentiment of 0.9 percentage points. Sub indices show renewed strong upswing in consumer confidence for the economy and jobs.
The PCSI Economic Expectations Sub-Index has shown a remarkable increase of +5.8 percentage points; while the Employment Sub-Index is up by 5.0 percentage points.
Current Personal Financial Conditions showed a minor decline of -1.7 percentage points; the Investments sub index fell by -2.0 percentage points. Both indicate financial stress for day to day running of households and for discretionary spends. Expect push back in consumer spending.
“We’re seeing a clear gap right now, while people feel more positive about the future, their current financial situation is still tight. While confidence in the economy and jobs is improving, spending may stay cautious in the near term as households manage ongoing pressures. Ergo, the overall strength of the economy remains solid, giving us confidence in a steady recovery ahead,” added Ramalingam.
