India Sees Growing Equality in Asset Ownership as Mobiles and Vehicles Lead the Change

Nov 25, 2025 | New Delhi A new report from the Economic Advisory Council to the Prime Minister shows that Indian households are spending differently today than they did a decade ago. Instead of focusing mainly on basic items like clothes and footwear, families across income levels are now investing more in long-lasting assets such as mobile phones, vehicles and essential home appliances. This shift reflects rising awareness, better financial access and improved connectivity across the country. According to the analysis, motor vehicles are the fastest-growing asset category. More households—urban and rural—now own two-wheelers or cars, and even families in the bottom 40 percent income group are steadily catching up. Better roads, wider market access and easier loan options have helped push this growth. Mobile phones, meanwhile, have become almost universal. Their wide availability has even reduced the need for televisions in many places, as people increasingly rely on phones for entertainment and information. Refrigerator ownership is also rising, especially in cities, and the gap between high- and low-income households is shrinking across most asset categories. The report highlights that the share of households without any durable assets has dropped to below five percent nationwide, showing a clear decline in asset-based poverty. Overall, the study suggests that India is moving toward greater equality in living standards as more families gain access to the tools that improve daily life and productivity. India Sees Growing Equality in Asset Ownership as Mobiles and Vehicles Lead the Change India is witnessing a major shift in how households spend and build their futures. A new report from the Economic Advisory Council to the Prime Minister shows that more families across income levels are now investing in long-term assets rather than just everyday essentials. Mobile phones, vehicles and basic home appliances are driving this change and helping narrow the gap between richer and poorer households. Motor vehicles have seen the fastest rise in ownership, with even the bottom 40 percent catching up quickly. Better roads, easier loans and stronger market access are making it possible for more families to own a two-wheeler or car. Mobile phones have now reached near-universal penetration, becoming the preferred source of entertainment and information. This shift has also slowed the growth of television ownership in many urban pockets. Refrigerators and other appliances are becoming more common too, especially in cities where asset gaps are shrinking rapidly. With fewer than five percent of households now lacking durable goods, India is clearly moving toward more equal access to tools that improve comfort, opportunity and quality of life.