The next 20 years can prove to be a booster period for the economy, the source of income will be in the hands of Gen-Z.

New Delhi : Consumption by people plays the most important role in progressing India's economy. Which simply means that the more people spend, the faster the country's economy will grow. The people of India do not lag behind anyone in terms of expenditure. But for this, assurance of job and salary is most important. Now Gen Z plays the most important role in taking this link forward.

Gen Z is the generation born between 1997 and 2012. It is now being said that this generation can play an important role in the economy through spending. Boston Consulting Group i.e. BCG and Snapchat's parent company Snap Inc. have released a report. According to which it has been revealed that by 2035 this generation can spend 2 lakh crore dollars i.e. about 168 lakh crore rupees.

Generation Z population is more than 37.7 crores

Due to this, there will be a greater increase in the expenditure for the country's economy. This expenditure will be very important for taking the Indian economy forward. Generation Z, the largest youth population in the country so far, is more than 37.7 crores.

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about 43 percent of consumption

The total expenditure of this generation is around 860 billion dollars, which is about 43 percent of India's total consumption. It has been said in this report that out of 860 billion dollars, this population consumes about 200 billion dollars on its own. The remaining $660 billion is spent by other people as per their recommendations or priority.

This expenditure will increase by the year 2035

It has been said in this report that the expenditure trend of Generation Z population has shown that by the year 2035, this expenditure limit will reach the level of 2 trillion dollars. According to Snap Inc., India is one of the largest youth nations as it comprises of more than 377 million Generation Z.

The coming 20 years will be very important

According to this report, it has been revealed that through their expenditures, this generation can take India to new heights of development in the coming 20 years. It is expected that by the year 2025, Generation Z can directly spend 250 billion dollars and by 2035 this figure will reach 1.8 trillion dollars. The report revealed that one in four Gen Z already has a job.

It is being told that by 2025, every second Gen Z will have a job. According to the report, despite the opportunity, most businesses have not even taken advantage of Gen Z. Of these, only 15 percent of Gen Z members are taking active steps to take advantage of it. According to BCG India, the impact of the Generation Z population is not limited to selected segments only. This generation influences sectors like fashion, food and automobiles.