Aastha Chopra of BTTV spoke to R K Jha MD and CEO of LIC Mutual Fund on the launch of the new Consumption Fund NFO. He said the fund comes at a time when India’s economy is being powered by private consumption which makes up 61 percent of GDP and is projected to grow by more than 10 percent each year to 3.87 trillion dollars by 2030. With festive demand at record highs and the middle class set to rise from 31 crore people to 50 crores by 2035 Jha said the fund will capture growth in areas such as cars, electronics, branded clothes and lifestyle products. The NFO priced at 10 rupees per unit is aimed at long term wealth creation for investors.

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