The middle class is the fastest-growing major segment of the Indian population in both percentage and absolute terms, rising at 6.3 percent per year between 1995 and 2021. It now represents 31 percent of the population and is expected to be 38 percent by 2031 and 60 percent in 2047.

Indian middle class grows 5-fold in 9 years

The size of India’s middle class will nearly double to 61 percent of its total population by 2047, from 31 percent in 2020-21, as continuing political stability and economic reforms with a sustained annual growth rate of between 6 percent and 7 percent over the next two and half decades will make the country one of the largest markets in the world.

Indian middle class will nearly double to 61% by 2046-47: Report

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