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India's luxury market to cross $18.3 bn by 2016

Increasing brand awareness among the youth and higher purchasing power beyond big cities is likely to boost India's luxury market around 20 percent to USD 18.3 billion this year, says a study.

Luxury market may touch $15 bn in 2 years: Study

The luxury market is poised to expand three-fold in next three years and the number of millionaires expected to multiply three times in another five years, Assocham Secretary General D S Rawat said while releasing the study here.