Are markets not favorable for luxury goods?

India may be the world's most diverse and biggest market but the luxury spending in its markets is far less. This may be due to the import duties levied on luxury products is huge in India especially on imported luxury cars and bikes.

In India, the on-road prices of super-luxury cars are 150-200 percent higher than the ex-factory prices after including the customs duty, taxes, and registration costs. There have been demands by lu....