MAM
India maintains highest national index score despite April 2024 consumer sentiment drop: LSEG-Ipsos PCSI survey
Mumbai: India continues to sit at the top of the consumer confidence index with the highest national index score of 67.0, despite a 5.0 percentage point drop in overall consumer sentiment index in April 2024, according to the LSEG Ipsos primary consumer sentiment index (PCSI).
Among the 29 countries, India (67.0) and Indonesia (65.1) remain the only countries with a National Index score of 60 or higher.
Ten other countries now show a National Index above the 50-point mark: Mexico (59.8), Thailand (57.6), the Netherlands (54.8), Singapore (54.6), Sweden (54.5), the U.S. (53.4), Brazil (53.3), Poland (50.3), Great Britain (50.2) and Australia (50.1).
In contrast, just three countries show a National Index below the 40-point mark: South Korea (39.6), Türkiye (36.8), and Hungary (33.2).
Each month, Ipsos tracks attitudes of consumers in 29 markets on the current and future state of their local economy, their personal financial situation, the employment climate, and their purchasing and investing confidence.
Consumer sentiment lowers in April 2024 for India
The overall or national index has experienced a drop of 5.0 percentage points in April 2024 for India. Further, consumer sentiment has fallen across the 4 sub indices (the PCSI is an aggregation of four weighted sub-Indices) – the PCSI Employment Confidence (“Jobs”) Sub- Index, is down 6.3 percentage points; the PCSI Current Personal Financial Conditions (“Current Conditions”) Sub-Index is down 6.6 percentage points; the PCSI Investment Climate (“Investment”) Sub-Index is down 6.5 percentage points; and the PCSI Economic Expectations (“Expectations”) Sub-Index has a minor drop of 1.5 percentage points.
Summarizing on the findings of the survey, Ipsos India CEO Amit Adarkar said, “India continues to show the highest national index score of 67.0 percentage points despite the drop in consumer sentiment this month. There is lowering of consumer sentiment overall and largely driven by lowering of sentiment for personal finances, investments, jobs and the economy. Consumers are experiencing financial crunch for not only day-to-day running of households but also for savings and investments. We see downgrading of confidence for jobs. End of the financial year for a lot of companies would mean freeze on hiring by India Inc. And it should pick up in May/ June. Further, around this time, the tax burden increases on personal incomes, tightening the tight rope for discretionary spends. Also, it is election time in India. For 2 months no course correction or sops are likely to be announced by the incumbent government.”
Sentiment is largely up throughout Europe. Sweden (+3.6 points), Great Britain (+3.1 points), France (2.8 points), and Spain (+2.5 points) all show significant gains this month. For Sweden, this month’s reading is the country’s highest in nearly two years.
In contrast, sentiment is more mixed in other regions. In the Asia-Pacific region, consumer confidence is up in Thailand (+2.1 points), while India (-5.2 points) shows the largest decline of any country. In Latin America, Argentina (+3.7 points) shows the largest increase among all countries, while sentiment declined sharply in Brazil (-3.5 points).
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 29 countries conducted on Ipsos’ Global Advisor online platform. This survey was fielded between 22 March and 4 April 2024.
Brands
Mother’s Recipe launches Summerwala Sharbat range
Five nostalgic flavours priced at Rs 215 aim to tap summer refreshment demand.
MUMBAI: Call it a sip of summer nostalgia, Mother’s Recipe is bottling childhood memories and pouring them back into the present. The homegrown ethnic food brand has introduced its Summerwala Sharbat range, a five-flavour line-up designed to recreate the familiar tastes and rituals of Indian summers, while catering to modern consumption habits. The range features Mango Panna, Rose Syrup, Jeera Masala Syrup, Khus Syrup and Lemon Ginger Squash, each rooted in flavours that have long defined seasonal refreshment across Indian households. From the tang of raw mango to the cooling comfort of khus, the portfolio leans heavily into recall, not reinvention.
At a time when brands are increasingly leaning on nostalgia as a strategic lever, Mother’s Recipe is positioning Summerwala Sharbat as both a functional beverage and an emotional cue. The idea is simple: revive the small, everyday rituals post-play drinks, family gatherings, the clink of ice in a glass that once defined summer afternoons.
The products are packaged in 750 ml PET bottles and priced at Rs 215, targeting both routine household consumption and social occasions. Distribution spans leading e-commerce platforms as well as select offline retail outlets.
Mother’s Recipe executive director Sanjana Desai said the intent was to bring back flavours tied to “taste, routine and home”, while making them relevant for today’s consumers.
The move reflects a broader shift in the beverages market, where heritage-led storytelling and familiarity are increasingly being used to stand out in a crowded, innovation-heavy category.
With Summerwala Sharbat, Mother’s Recipe isn’t just selling a drink, it’s selling a season, one glass at a time.
