Amidst the growing number of wealthy people, global luxury goods manufacturers are entering India in a big way.Thorsten Veblen, the American Economist, first mentioned the term `conspicuous consumption' in his book The Theory of the Leisure Class. For this category of people, owning luxury goods is a status symbol and a prerequisite for self-esteem. The high-quality lifestyle, once limited only to an exclusive section of society is now spreading across.

A surge in the number of multi-income families, disposable incomes, increased Internet access and exposure to global trends have all radically metamorphosed the physical as well as social structure of Indian homes and spending attitudes. Against the growing disposable incomes, the expense basket is shifting from necessity to lifestyle products.

As incomes increase, so does affluence. This `affluenza' has so firmly caught the imagination of the new Indian maharajas. Gone are the old days when even the well-off business people hesitated to show off their riches and led an austere life. The youth coming from well-heeled families are increasingly matching the purchasing power of their counterparts in America and Europe.

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