The consumption of luxury goods in India has seen a significant rise in the last few years, according to a recently released report by global investment bank Goldman Sachs. The report supports this observation with figures of growth of premium brands versus mass brands in the past few years. For example, the volume of Royal Enfield sales has grown in the positive territory while mass brands have seen a shrinkage of close to 20 per cent compared to pre-Covid levels. Similarly, SUV sales have been higher than overall car sales.