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The mystery of India's missing middle class: Is it part of our growth story?
Livemint
·
1m ago
Medial
India's middle class is seemingly not driving a consumption boom similar to China’s past experience, despite India’s robust economic growth. This could lead to significant economic consequences, as India risks sidelining an important segment of its population in its growth story. Maintaining an inclusive growth trajectory is essential for India’s economic emergence, leveraging the spending potential of its burgeoning middle class to sustain consumption-led growth.
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Rising Bharat Summit 2024: How India's bull case looks to top market investors
Money Control
·
1y ago
Medial
Market experts spoke at Network18's 'Rising Bharat Summit 2024' in New Delhi, expressing their optimistic views on the Indian equity markets. Ramesh Damani highlighted the growth of the Indian middle class as a driving force for the economy, while Aashish Agarwal emphasized the potential for increased equity investments. Shweta Jalan discussed India's demographic profile and policy support. Despite market volatility, Damani remains confident in India's long-term growth story. Foreign investors are also recognizing India's economic prospects, making a comeback.
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'A class war in code': AI will gut India’s middle-class paychecks, CXO cautions
Business Today
·
1m ago
Medial
A Chief Experience Officer cautions that AI could significantly impact India's middle class by reducing income, not just workdays. As AI accelerates work processes, it may not equitably benefit white-collar workers without asset ownership. The concern is that AI will exacerbate income inequalities despite increasing efficiency, as it favors those already in advantageous financial positions, leaving the middle class with fewer financial gains, addressing key risks associated with AI integration.
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Despite headwinds, India will remain resilient, says Deloitte report
Business Today
·
3m ago
Medial
Despite global uncertainties and protectionist policies, Deloitte's report highlights India's resilience and attractiveness as an investment destination. As the fastest-growing major economy, India's robust domestic demand is poised to drive it to become the world's third-largest economy by 2027. Significant infrastructure investments and a growing middle class are set to boost consumer spending substantially by 2030. India's focus on technology and innovation further enhances its potential, positioning it for continued growth despite short-term global challenges.
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India to overtake Japan as the 2nd largest economy in Asia by 2030: S&P Global
IndianStartupNews
·
1y ago
Medial
India is on track to become the world's third-largest economy by 2030, with a projected GDP of $7.3 trillion, surpassing Japan, according to S&P Global Market Intelligence. The Indian economy is expected to grow by 6.2-6.3% in the fiscal year ending March 2024, making it the fastest-growing major economy. India's robust domestic demand and a burgeoning middle class are significant drivers of this growth, attracting multinational corporations across various sectors. Digital transformation and increased internet access are also set to reshape the consumer market landscape. India's growth is poised to make it a pivotal market for multinationals.
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'Salaries flat at ₹10.5 lakh': Saurabh Mukherjea warns India's middle class is losing financial ground
Business Today
·
4m ago
Medial
Saurabh Mukherjea, Chief Investment Officer at Marcellus Investment Managers, discusses the concerning financial situation of India's middle class. He identifies stagnant incomes, job losses from automation, and a looming cyclical slowdown as the key challenges. Middle-class earnings have remained flat at around ₹10.5 lakh annually for a decade, while automation threatens traditional jobs. Mukherjea warns of the detrimental impact on the middle class due to rising debt and job erosion from these persistent issues.
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India's Bajaj Finserv hikes customer target to 250 million
Economic Times
·
1m ago
Medial
Bajaj Finserv aims to increase its customer base to 250 million within four years, capitalizing on robust growth in India. The company, part of the century-old Bajaj Group, has seen rapid customer acquisition, already reaching 92 million active users across lending, asset management, and insurance sectors. With significant expansion potential, Bajaj Finserv plans to target India's growing middle class, employing AI for customer service and loan processing, while remaining vigilant about economic challenges.
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'Biggest scam': Lemonn cofounder sparks debate on middle-class salary crisis
Internet
·
2m ago
Medial
Ashish Singhal, the CEO of Peepal and cofounder of CoinSwitch and Lemonn, ignited debate by calling middle-class salaries "the biggest scam" due to their negligible growth compared to living costs. While food prices have soared by 80%, middle-class incomes have barely increased, leading to reliance on credit over earnings. Singhal contended that both AI-induced job threats and ineffective money management contribute to these struggles, highlighting political neglect of middle-class economic challenges.
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India to lead global oil demand growth, add 1 mn bpd by 2030: IEA
Economic Times
·
1m ago
Medial
India is projected to lead global oil demand growth, adding 1 million barrels per day by 2030, driven by robust economic expansion. The International Energy Agency (IEA) anticipates India's crude oil demand to surge from 5.64 million bpd in 2024 to 6.66 million bpd in 2030. India's growth is attributed to increasing transport fuel needs and a burgeoning middle class, despite high import dependency. Global oil demand is expected to plateau near 105.5 million bpd by 2030.
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Our country and economy are on a strong footing, states DP Singh
Internet
·
1y ago
Medial
Our country and the economy are on a strong footing where domestic and foreign investors are actively wanting to be part of our country’s growth story. I would advise investors to look at their individual circumstances, in terms of asset allocation and financial goals when making any investment decision, says DP Singh, DMD and Joint CEO, SBI Mutual Fund
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Air India to offer 3-class cabin configuration on domestic routes. Details here
Livemint
·
1y ago
Medial
Air India has introduced a new three-class configuration on its A320neo aircraft for domestic and short-haul international routes. The configuration includes a Business class, Premium Economy, and Economy class. This upgrade is part of Air India's efforts to enhance the flying experience and transform it into a world-class airline. The airline has already refitted two A320neo aircraft with the new configuration. In addition, Air India has announced its flight schedule for these three-class flights, offering greater choice to its passengers.
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