As sales growth slows in China , luxury - goods retailers are responding to the new wealth growing in India , which is being combined with an increase in appetite for luxury brands . The number of millionaire Indian households worth $ 3.8 m has grown by 17 % from 2014 to 2020 , and this is expected to increase over the next five years . Additionally , luxury sales in India rose 25 % in 2014 compared with 7 % in China , says Euromonitor .
As sales growth slows in China, luxury-goods makers are looking to the new wealth growing in India, which is being combined with an increase in appetite for luxury brands. The number of millionaire Indian households worth $3.8m has grown by 17% from 2014 to 2015, and this is expected to triple over the next five years. Additionally, luxury sales in India rose 25% in 2014 compared with 7% in China, says Euromonitor.