What Does Affluent Urban India Want

The Indian arm of the American financial planning giant, Ameriprise Financial, recently commissioned market researcher TNS to conduct a survey of affluent urban Indian consumers (age 28-45 with an average household income of Rs 12 lakh +) living in major metropolitan centres. The study focused on their goals, aspirations and dreams regarding their financial investments, and the factors that influence them. Ordinarily, one would assume these professionals to make well-informed financial decisions. Also, one might assume that they would bother more about personal goals than family. But the survey throws up some unexpected results.

Financial goals revolve around the family Irrespective of age, income or geography, affluent Indian consumers typically prioritise family-centric goals as their primary objective. Specifically, goals such as

• providing for children’s education
• parents’ care, and
• financial security for their family in case of earner’s death or disability take precedence over even personal ambitions and aspirations.