Dateline 2031: India's Middle Class Will Make It Much Richer
India is on the cusp of a tremendous opportunity for both economic progress and improvement in the general well-being of its citizens...
India is on the cusp of a tremendous opportunity for both economic progress and improvement in the general well-being of its citizens...
Post-Covid recovery of poor households has been faster than expected. But many still need a leg-up...
India's middle-class, comprising over a third of the population, are the main taxpayers and viewed as the main drivers of country's economic growth. India's middle-class is expected to surge to over a billion by 2047, more than entire populations of US and Europe.
India's economic and social landscape is on the verge of a profound transformation, driven by the rapid expansion of its middle class. By 2047, the centenary of India's independence, the middle class is expected to become the dominant income group, reshaping the nation's economic, political, and social fabric. This detailed research report delves into the projected growth of the middle class, its implications, and the necessary policy measures to support this transition. Drawing on findings from PRICE's report "The Rise of India’s Middle Class," we explore the shifts in income distribution and offer strategic recommendations to ensure the growth and stability of this burgeoning demographic.
This report explores the critical role of India's middle class in driving economic growth and business opportunities. With a substantial portion of the population falling into the Middle-Class category, their income, expenditure, and savings significantly impact the national economy. However, this segment faces challenges that need addressing to unlock its full potential. The report provides insights into the financial dynamics of the middle class, the challenges they face, government measures to support them, and the potential business opportunities arising from their growth.