The rise of the Indian middle class 

India’s middle class has many unique features. It is the youngest globally, which typically translates to greater dynamism economically and politically compared to counterparts in China and the United States. It is also a driving force behind the rising domestic market, with growth in the purchase of homes, cars, refrigerators, motorcycles, and digital goods and services. 

India and China have both been recognised for rapid economic growth and the rise of the middle class. But the rise of the middle class in India is associated with different growth drivers. Unlike China, which has a global reputation for exporting manufactured goods, India has benefited from a service revolution. India’s IT outsourcing industry is still considered one of the largest exporters of IT and business process outsourcing services. It has been on an increasing growth curve for the past several decades. India’s growth pattern in the 21st century is remarkable because it contradicts a seemingly iron law of development that has held true for almost two centuries since the start of the Industrial Revolution.