The 'Affluent India' theme has proven to be resilient in the face of a general slowdown in urban consumption, according to Goldman Sachs analyst Arnab Mitra.

Despite a decrease in demand across various product categories, premium segments within FMCG companies have experienced double-digit growth.

Mitra observes that while consumption in metros and tier-1 and tier-2 cities has weakened, the high-end market remains strong.

Sectors such as jewellery, travel, leisure, and premium real estate continue to thrive without any signs of a slowdown.

This divergence in urban consumption patterns highlights the strength of high-end consumer spending, even as mass-market offerings encounter challenges.