The percentage of the Indian population classified as upper middle class is estimated to be around 5-10%.
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The percentage of the Indian population classified as upper middle class is estimated to be around 5-10%. This segment of society generally represents individuals or households with a significantly higher standard of living compared to the average population. The upper middle class is characterized by higher income levels, higher education, and access to better healthcare, housing, and other amenities.
Interestingly, the expansion of the upper middle class in India has been fueled by factors such as economic growth, urbanization, and globalization. Rising incomes and improved job opportunities have contributed to the upward mobility of a substantial number of Indians, allowing them to enter the upper middle class category.
To provide further insight into the topic, here are some notable facts:
Income Criteria: The upper middle class in India is often defined by a certain income threshold. According to a report by the National Council of Applied Economic Research (NCAER), households earning between Rs. 10 lakhs to Rs. 25 lakhs per annum (approximately $14,000 to $35,000) can be classified as upper middle class.
Economic Contributions: The upper middle class plays a critical role in driving India’s consumer economy. Their increased purchasing power stimulates demand for luxury goods, automobiles, and other high-end products, contributing to economic growth.
Education and Employment: This segment of the population places high importance on education, with many pursuing higher studies and professional careers. They are often employed in sectors such as IT, finance, engineering, healthcare, and management.
Urban Concentration: The upper middle class is heavily concentrated in urban areas rather than rural regions. Metropolitan cities like Mumbai, Delhi, Bengaluru, and Chennai have a significant concentration of individuals belonging to this class, with access to better employment opportunities and lifestyle choices.
Aspirational Consumption: The upper middle class tends to adopt aspirational consumption patterns, seeking premium products and services. They prioritize quality, brand value, and convenience when making purchasing decisions.
In conclusion, the estimated percentage of the Indian population classified as upper middle class is around 5-10%. This segment represents individuals or households with higher incomes and a significantly better standard of living. The expansion of the upper middle class in India is attributed to economic growth and improved job opportunities. As a result, they contribute to the nation’s economy while enjoying higher levels of education, employment, and access to various amenities.
Famous quote: “The rapid growth of India’s middle class is making the country a major global consumer market.” – McKinsey & Company
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See a related video
This video addresses the misconception of being middle class in India, revealing that only 2% of the population falls into this category. The average monthly income of a middle-class family is around $300-$600, much lower than expected. The video highlights the struggle of the middle class in terms of education and employment, and promotes online upskilling platforms as a way to bridge the skill gap and improve job prospects. It also discusses the significant wealth disparity in India and challenges the notion of being rich, suggesting that basic amenities like a fridge, smartphone, and flat screen TV may already classify someone as rich in the context of many Indians still living in poverty.
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The percentage of middle class in India is not very clear, as different methods of calculation may yield different results. However, one estimate suggests that 28% of India’s population is middle class, of which 14% is lower middle class and about 3% is upper middle class. Another estimate ranges between 10 and 30% of Indians are middle class.
Based on all this, she finds that 28% of India’s population is middle class — of which 14% is lower middle class and about 3% is upper middle class.
The reality, of course, is more sobering. For one, what has never been completely clear is the size of India’s middle class. Depending on how you calculate it, economists estimate between 10 and 30% of Indians are middle class.
I am confident you will be intrigued
How much of Indian population is middle class?
In contrast, the middle-class population stood at 43.2 crore in 2021. These findings are derived from a statistical analysis of primary data collected through PRICE’s ICE 360 pan-India surveys of 200,000 households conducted across three cycles in 2014, 2016, and 2021.
What percentage of the population is upper middle class?
To illustrate, two nurses each making $55,000 per year can out-earn, in a household sense, a single attorney who makes a median of $95,000 annually. Sociologists Dennis Gilbert, Willam Thompson and Joseph Hickey estimate the upper middle class to constitute roughly 15% of the population.
What percentage of Indian population is rich?
As a response to this: The top 10% of the Indian population holds 77% of the total national wealth. 73% of the wealth generated in 2017 went to the richest 1%, while *670 million Indians who comprise the poorest half of the population saw only a 1% increase in their wealth.
What income is upper middle class in India?
Answer: In India, the middle-income group is defined as households with an annual income between INR 7.5 lakh and INR 15 lakh, while the middle class is defined as households with an annual income between INR 6 lakh and INR 18 lakh.
What percentage of India’s population is middle class?
Response: Based on all this, she finds that 28% of India’s population is middle class — of which 14% is lower middle class and about 3% is upper middle class. She finds that while there is significant diversity in the type of jobs among the middle class, a large proportion of the middle class are salaried employees.
How many Indians are middle-class?
As a response to this: Only 2% of Indians are actually middle income, according to a Pew survey. In a country quite as large as India, it’s hard to identify anything that actually counts as being in the "middle." Yet most of us claim we are middle-class, no matter where we fall on the spectrum, whether compared to the rest of India or the globe.
Who will become India’s new middle class?
The reply will be: The next two groups—seekers, earning between 200,000 and 500,000 rupees ($4,376- $10,941), and strivers, with incomes of between 500,000 and 1 million rupees ($10,941-$21,882)—will become India’s huge new middle class. While their incomes would place them below the poverty line in the United States, things are much cheaper in India.
Are Indians a conservative middle class?
Response: Although we keep hearing about India’s massive middle class, probably because so many Indians think they fall into the category, the reality is that only a tiny amount of Indians qualify to be in a very conservative middle-income category, and the gap in living standards between economically advanced nations and developing ones is not narrowing.
How many people are in the middle class in India?
The response is: They are likely to have air conditioning, and can indulge in an annual vacation, usually somewhere in India. The middle class currently numbers some 50 million people, but by 2025 will have expanded dramatically to 583 million people—some 41 percent of the population.
What will India’s middle class look like in 2025?
Response will be: The middle class currently numbers some 50 million people, but by 2025 will have expanded dramatically to 583 million people—some 41 percent of the population. These households will see their incomes balloon to 51.5 trillion rupees ($1.1 billion)—11 times the level of today and 58 percent of total Indian income.
Will upper class be smaller than lower income group?
Upper class will be smaller. Lower income group makes a large part of our society. Considering 3-5% pay income tax, middle class and above can’t be much largerVivek Dant…
Will India’s middle class overtake China in 2027?
Response will be: India’s middle-class growth is predicted to accelerate. From 2027 India’s population is set to overtake China’s and the middle class will overtake that of the United States, Europe and China. Indian household saving rates have also leapt.