India’s consumer sentiment rises in July despite global uncertainty: LSEG-Ipsos Index

New Delhi: Consumer sentiment in India continued to rise in July 2025, despite wider global uncertainty, according to the latest LSEG-Ipsos Primary Consumer Sentiment Index (PCSI). 

The index recorded a month-on-month increase of 1.8% points, maintaining India’s position as the country with the second-highest national sentiment score among 30 markets surveyed.

Notably, sentiment improved across all four key sub-indices. Economic expectations were up by 3.1% points, while confidence in personal financial conditions rose by 1.9 % points. Sentiment around the investment climate also increased by 3.1 points, and employment confidence saw a marginal gain of 0.4% points over the previous month.

“July brings positive news for India, with a noticeable uplift in consumer sentiment across various fronts, the economy, investments, and personal finances. Even job sentiment has shown a slight improvement this month, building on last month’s gains. 

Several factors may have contributed to this growing optimism: a promising start to the monsoon season in many regions, a decline in food inflation, continued tax cuts by the Finance Minister boosting household savings, a cut in the repo rate lowering loan interest burdens, and the overall resilience of the Indian economy, which remains strongly driven by domestic consumption. Together, these elements are fostering a more upbeat consumer outlook,” said Amit Adarkar, CEO, Ipsos India.

Globally, Indonesia (61.3) retained the highest national index score, followed closely by India (60.9). These were the only two countries to cross the 60-point threshold this month. Nine other countries reported a score above 50, including Sweden (56.2), Mexico (55.0), the Netherlands (53.8), the US (53.8), Singapore (53.4), Malaysia (52.7), Great Britain (52.0), Poland (51.7), and Brazil (51.1).

In contrast, Hungary (36.7), Japan (35.9), and Türkiye (34.3) remained below the 40-point mark, reflecting lower consumer confidence in those markets.

The findings are based on monthly survey data from the LSEG-Ipsos PCSI, conducted across 30 countries. In India, the survey draws from approximately 2,200 respondents, combining online and face-to-face interviews across metro cities and tier 1–3 towns, representing urban social-economic classes A/B/C.