Saturday, October 11

High Tech and Middle Class Growth

Middle class is seeing change in the way they live, opportunities in the job markets are rising and people are now little more hopeful compared to recent bad times we have seen. The graduates atleast now can get a job on the basis of their language skills alone in a call center. And as I have said in my recent post that , the small towns are also seeing the growth and opportunities. Where the middle class lack is , the entreprenurship. But since we going through a change, we will surely catch up sometime on entrepreneurship also.

    High tech fuels India's growth: "Although economists agree that India's middle class is growing rapidly, estimating its size is difficult because there is no consensus on its definition. By American standards, the lifestyle enjoyed by Chakrabarty would hardly be considered lavish. But according to a ranking system devised by the National Council of Applied Economic Research in New Delhi, which recently completed a survey of Indian consumption patterns based on interviews with 300,000 households, Chakrabarty and his family belong to the category of 'very rich,' one of whose attributes is car ownership.

    Based on those definitions, Executive Director Suman Bery said, about 550 million of India's 1.04 billion people could have been considered middle class in 2000, the latest year for which survey data are available. That's a big jump from 1990, when the number of middle-class Indians, both climbers and consumers, was estimated at 310 million."....