According to the Credit Suisse Emerging Consumer Scorecard 2015, India topped the chart, moving up from fourth in last year's list. India was followed by Brazil and Indonesia.
     
"Consumer optimism has seen a sharp turnaround in 2014. The formation of a strong government at the center has triggered a major revival in consumer sentiment," said the survey that covered Brazil, China, India, Indonesia, Mexico, Russia, Saudi Arabia, South Africa and Turkey.
     
In India, more people believe this is a good time for making big ticket purchases as average household income increased by around 10 percent in 2014 after being relatively steady the two previous years.
     
Moreover, there was a sharp increase in the proportion of respondents who expect both salary to increase and the state of their personal finances to improve in 2015 and fewer people are expecting inflation to increase.
     
As for other rankings, Saudi Arabia was at the fourth place, followed by China (5th), Turkey (6th), Mexico (7th), Russia (8th) and South Africa (9th).
     
According to the report, India, Turkey and China are less directly exposed to the current commodity and currency volatility versus Russia, Latin America and South Africa.
     
"The survey shows the contrasting impact of the oil price collapse on Emerging Markets. Consumer sentiment in Russia and key Latin American economies is under pressure, in contrast to India where the consumer looks robust, helped by reforms," Credit Suisse's Global Head of Research for Private Banking and Wealth Management Giles Keating said.

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