Around 74 per cent of Indians are concerned about their personal financial situation, as opposed to 50 per cent globally, while 63 per cent of Indian consumers are cutting back non-essential spending altogether, a new report said on Thursday.

According to the 2023 PwC Global Consumer Insights Pulse report, most Indian consumers expect to reduce their expenditure across all surveyed categories over the next six months, a significant decline in planned spend across all categories since the previous pulse survey in June 2022.