ARS Insights, September 2026. Practical research thinking for business owners, in plain language.
1. Growth, GST and PMIs
India’s economy grew 7.8% in April to June 2026, according to the statistics ministry’s estimates as reported by Outlook Business. Gross GST collections in August were Rs 1,99,853 crore, up 14.8%, with domestic revenue up 9.3% to Rs 1,37,249 crore. The HSBC Services PMI rose to 54.1, a 15-month high, while the Manufacturing PMI fell to 52.8, a five-year low. A reading above 50 still means expansion.
2. Spending is moving toward experiences
Why it matters: Bank of Baroda’s chief economist said consumers are shifting spending toward services and experiences such as travel, dining and concerts. An FMCG analyst said volumes are picking up, but crude-linked costs, a weak monsoon, sticky food inflation and higher diesel prices are risks.
What to measure: what share of your customers’ budget your product captures against experiences, and whether your festive stock plan assumes last year’s mix.
3. One question for your business this month
Before the festive season, do you know whether your customers plan to spend more on things or on experiences this year?
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ARS Market Research Services Pvt. Ltd., Chennai. arsmrs.in
Sources: Outlook Business, India’s August pulse; NewKerala report on GST data released 1 September 2026.