Nifty India Consumption Historical Returns
The Nifty India Consumption index tracks companies that sell to Indian consumers: staples, durables, autos, media, retail and services. Figures come from the NAV of a fund that tracks it, so returns include dividends and are after fund costs.
Price history
Month-end values, on a log scale (equal distances are equal percentage changes). Hover a year-end point for its value.
About Nifty India Consumption
The Nifty India Consumption index tracks companies that sell to Indian consumers: staples, durables, autos, media, retail and services.
What it means for investors. It reflects India's domestic consumption story across many sectors, so it is broader than FMCG alone.
Returns over time
| Series | 1Y | 3Y | 5Y | 10Y | 15Y | 20Y | Max fall | Data to |
|---|---|---|---|---|---|---|---|---|
| Nifty India Consumption | −10.0% | 9.3% | 9.4% | 11.7% | n/a | n/a | −31% | 1 Oct 2026 |
Annualised (CAGR) for periods of a year or more, ending on each series' latest date. “n/a” means the series does not go back that far. Max fall: the largest fall from a previous peak over the whole history.
AMFI NAV history (daily NAV file; earlier history via mfapi.in, which republishes AMFI NAVs), stored and cleaned by MFIC. Proxy: Nippon India ETF Nifty India Consumption (total return after fund costs (proxy)). Data 10 Apr 2014 to 1 Oct 2026. Latest level: NSE daily index closing values. Returns use the fund NAV history, which includes dividends.
Calendar-year returns
| Year | Return |
|---|---|
| 2026 to 1 Oct | −11.2% |
| 2025 | 8.9% |
| 2024 | 19.3% |
| 2023 | 27.4% |
| 2022 | 8.2% |
| 2021 | 20.2% |
| 2020 | 20.0% |
| 2019 | 0.3% |
| 2018 | −1.2% |
| 2017 | 46.4% |
| 2016 | −1.0% |
| 2015 | 8.9% |
Over 11 complete calendar years since 2015, Nifty India Consumption rose in 9. Best: 2017 (+46.4%). Worst: 2018 (−1.2%).
Year-end to year-end, from AMFI NAV history (daily NAV file; earlier history via mfapi.in, which republishes AMFI NAVs), stored and cleaned by MFIC.
Falls from peak and recovery
| Peak | Bottom | Fall | Months down | Back to peak | Months to recover | Events in the fall |
|---|---|---|---|---|---|---|
| Sep 2024 | Mar 2025 | −22.0% | 5 | not yet | — | — |
| Sep 2022 | Mar 2023 | −12.9% | 6 | Jun 2023 | 3 | — |
| Oct 2021 | Mar 2022 | −16.8% | 5 | Jul 2022 | 5 | Russia–Ukraine war begins |
| Aug 2018 | Mar 2020 | −31.3% | 19 | Nov 2020 | 8 | NBFC sell-off; General election results 2019; Corporate tax cut; COVID-19 declared a pandemic |
| Sep 2016 | Nov 2016 | −16.4% | 2 | Apr 2017 | 5 | Demonetisation |
| Aug 2015 | Feb 2016 | −14.8% | 6 | Jun 2016 | 5 | Yuan devaluation |
Each fall of 10% or more from a previous high, measured on daily data. The 6 deepest are shown. “Back to peak” is the first date it regained the previous high.
Rolling returns: the range of outcomes
| Holding period | Periods | Median | Worst | Best | Middle half | Positive |
|---|---|---|---|---|---|---|
| 1 year | 138 | 11.4% | −15.0% | 52.5% | 4.0% to 20.5% | 84% |
| 3 years | 114 | 14.3% | 1.8% | 23.6% | 11.9% to 17.8% | 100% |
| 5 years | 90 | 12.9% | 4.8% | 22.2% | 10.0% to 16.5% | 100% |
| 10 years | 30 | 14.0% | 11.9% | 15.9% | 13.1% to 14.5% | 100% |
Every holding period starting at a month-end in the history (overlapping). Annualised for periods over a year.
How it has moved with other assets
| Compared with | Correlation | Months |
|---|---|---|
| Nifty 50 | 0.85 | 149 |
| Gold (domestic, ₹) | −0.17 | 149 |
| 10-year G-Sec (bond fund) | 0.18 | 149 |
| USD/INR | −0.48 | 149 |
| Nifty Bank | 0.69 | 141 |
| Nifty PSU Bank | 0.49 | 149 |
Correlation of monthly returns over the months both series have: +1 moves together, 0 unrelated, −1 opposite. Relationships change over time.
Nifty India Consumption and the Nifty 50, year by year
| Year | Nifty India Consumption | Nifty 50 |
|---|---|---|
| 2026 to 1 Oct | −11.2% | −13.6% |
| 2025 | 8.9% | 11.6% |
| 2024 | 19.3% | 9.6% |
| 2023 | 27.4% | 20.9% |
| 2022 | 8.2% | 5.3% |
| 2021 | 20.2% | 25.2% |
| 2020 | 20.0% | 15.5% |
| 2019 | 0.3% | 13.2% |
| 2018 | −1.2% | 4.3% |
| 2017 | 46.4% | 29.7% |
| 2016 | −1.0% | 4.0% |
| 2015 | 8.9% | −3.3% |
| 2014 part year | 26.1% | 31.8% |
Fund NAVs (AMFI), after fund costs.
Questions
- What has Nifty India Consumption returned over the long run?
- Calculated from Nippon India ETF Nifty India Consumption, Nifty India Consumption returned 11.7% a year over the 10 years to 1 Oct 2026, and 9.3% a year over 3 years. Past returns do not indicate future returns.
- What was the biggest fall in Nifty India Consumption?
- In the data available from Apr 2014, the largest fall from a previous peak was −31.3%, from Aug 2018 to Mar 2020, and it regained the peak in Nov 2020 (8 months after the bottom). There were 6 falls of 10% or more, 2 of them 20% or more.
- How often has Nifty India Consumption been positive over one year?
- Across 138 one-year periods starting at month-ends, 84% were positive; the range was −15.0% to 52.5%. Over five-year periods (90), 100% were positive, with annualised returns from 4.8% to 22.2%.
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