Affluent not affected by slowdown

A national survey of the upper middle-class consumers, conducted by a market research organisation, has found the economic slowdown has not impacted their spending habits significantly.

The survey across 35 Indian cities by the Nielsen Company India has, however, found "luxury accessories and travel/vacations are items where individuals have curtailed spending significantly as compared to other items."

The survey, which claims to be a first of its kind, covered 18,250 individuals. Some findings show most affluent Indians prefer reading an English newspaper but watching a Hindi TV channel. The survey has defined 'affluence' based on lifestyle and ownership of consumer durables, as a more reliable index than one based on income.