Luxury market to touch $15 billion: Assocham

The luxury market in India is pegged to grow by 25% from 2013 till 2015 and is likely to touch $15 billion from the current level of $8 billion, a study by the Associated Chambers of Commerce and Industry of India said. The luxury market is poised to expand three-fold in the next three years and the number of millionaires is expected to multiply three times in another five years.