Middle-income India

Gill noted that there were only 34 countries which transitioned from a middle-income to a high-income country in the period between 1990-2023, he says

A Redseer survey on low to middle income households found that 65% respondents relied on family and friends for financial support, citing medical emergencies as a major cause for savings depletion

The Congress on Monday charged that the gap between the ultra-rich and the middle class in the country is widening under the Modi government. Congress general secretary Jairam Ramesh said an analysis of the publicly available data on income tax returns for the period 2013-14 to 2021-22 confirms one of the essential themes of the Bharat Jodo Yatra that of increasing income inequality. "The widening gap between the ultra-rich and the middle class under the Modi government is more and more apparent," he said in a post on X. "Here's the proof: The top 1 percent of income tax payers made 17 percent of all income in 2013-14. By 2021-22, the top 1 percent made 23 percent of all income. "Further, the income growth of the ultra-rich was much faster than for the middle class. The top 1 percent of income tax payers saw their income grow at 13 percent year-on-year from 2013-14 to 2021-22 a massive 60 percent faster than the income of the lowest 25 percent of tax payers," the Congress leader

For marketers chasing volumes, the 166 million households of middle-income India is the new focus