What makes the Indian Middle Class Great?
January 13th, 2009
Indian Middle Class comprising of 400 million people is the backbone of it’s economy , it is a unique mass of humanity not found anywhere else in the world, representative of typical Indian Values (which transcendent regions, religions, castes and tribes ,which are by themselves very diverse in India) and are a marketer’s dream in today’s consumption driven world economies.
What makes the Middle Class Great?
1.It comprises of people who are survivors, though somewhat diffident, conservative and mostly conformists.
2.They believe in God’s grace and want to hold on to what they have. They are risk averse . More Bank Fixed Deposits than Stocks and Shares.
3.They want secure jobs ( preferably government jobs ) and have learnt to manage within their means. They have learnt to ‘Cut their Coat according to their Cloth’
4.They are thrifty-Indian saving rate at 28% of GDP is one of the highest in the world.
5.They want to give good education to their children and live their dreams through their progeny .They talk endlessly of their U.S and U.K based children while worrying if their children are eating well and not getting corrupted by the outside influence.
6.While justifiably proud of their well-to-do children , they are uncomfortable with girls going out at night and the present lesser clad children.
7. Their daughters-in-law save time by spending money while the mothers-in-law have always saved money by spending more time (cook wholesome food at home rather than order fast- food)
8.They believe in God and are reconciled to their destiny .While they listen to grand plans of their children, yet are always apprehensive.
9.They are getting accustomed to modern technology, but still keep their Fixed Deposit Receipts laminated and safe, trusting the bank and post office pass-books more than internet accounting.
10.They are the products of households where younger children accepted hand- me- downs and always affectionately wanted to get their father’s coat altered to their size on growing up. They believe in save and re-use.
Today’s use and throw culture deeply upsets them.
11.They believe in Value-for-Money.
12.They are best represented by the middle middle-class, who buy branded apparel, but at discount sales ( preferably winter clothing at the season’s end, at bargain basement prices) , who go to see movies at the multiplex but in the morning shows at discounted rates, who comfortably fit in ( a large family) in a small car ( with a large heart ).
13.They manage to live in rented accommodations (if possible, government or company provided) and construct houses against Provident Fund and life Insurance loans. They DO NOT live on E.M.I s and still pay cash for their shopping.
14.God Forbid, if the bread earner was to lose the job ( which will mean depression and a feeling of disaster ) the homemaker can mange to keep the kitchen fire still burning for a few months by dipping into below -the-mattress-money .In such cases they will profusely offer prayers to the God of their understanding and ultimately leave everything to the Higher Power.
15.They do get snubbed for their middle-class mentality and values by their better-off children and relatives, who want to upgrade their living standards exponentially.
The giant multinational corporations salivating at this large target audience sank in huge amounts in standardized shopping malls, which have attracted foot- falls and eye-balls, but have seen flat sales, in fast-food chains, which struggled till they brought the prices down and customized their food offerings. Ultimately the global consumer goods giants recognized that the middle-age middle-class person still drinks the cola or lemon drink from a bottle, will buy a car based on fuel consumption and will take a cautious and conservative route. Of course the Corporations are lucky in so far as India has the youngest population in the world and hence cold drink cans and flat screen TVs have a chance.
Conclusion
In the global economic meltdown of today, India is relatively safe due to our conservative and cautious policies and the stoic middle class values, with deep faith in the Higher Power.
More power to the Middle-Class. May the economically backward rise to the middle-class level.
Arun Vedhera
P. S. – Do you think differently….Share your feelings
Categories: Global Economy, Investing Trends
I totally agree. With credit cards instead of real cash in your hands you tend to spend more. That makes you a consumerist.. and thank God most of us are not into this credit card trap. We buy only what we need .. sometimes lesser
I fully agree with the article, but I want to add some more points such as
This middle class is the vast Market consumer.
1.This middle class is being ignored in India.
2.The multinational companies, banks etc. gave the greed to be the thought of upper middle class to the lower middle class.
3. The middle class is suffering from inflation, curruption and mostly ignored by the profit oriented groups.
4. They are cheated by opprtunists always either by Share market or moll facilities.
5. Thanks God they are much more religious and some times they are cheated by some selfish Dharmgurus.
very interesting and informative reading.Author has gone deep into all aspects of a middle class indian.When i read this article i felt to read about me……..
congratulations
I agree with you.The points you gave in the support of your article are absolutely correct in defining the middle class culture on which the whole india relies.At the time of any emergency we can manage in a very small cash and we always teach our children how to handle that situation.
Right words and agreeewith your view on India’s Middle class.
but also there is huge population of people who r just at bootom of middle class or even below Powerty line. They earn daily and also spend daily. the real market for those who produce lower end & defeatured product. like small toothpaste pack hair oil washing powder in range of Rs 2-3. also other things like cheap cinema halls, fabrics ..sold on foothpath or small retailer shop.
They have there own thinking and philosophy of life. and infact they r living there life at fullest!!
requesting the author to write a case study about them too
Regards
Alekh
hi all
however ,inflation,corruption and unemployment are the worst problems the indian middle class faces today.this is the most prominent difference between india and the developed world.
implement laws ,see the difference..
Superb post.. the author has covered every single thing of the Indian Middle Class..We RAWK!
really good i feel like now i can make a good decision towards life i lost my way but not now …………
really good and thanks for bring this information i feel like secure…….
good article
hi all,
One More Point You have to add.
-> Middle class family spends more money only on festival seasons/Marriages for to get great enjoyment of their family and relatives.
Regards
JALAJA.K
its realy a nice article.its gives a new view about
its realy a nice article.its gives a new view about “THE GREAT INDIAN MIDDLE CLASS”.
It’s great comment on middle class how they lives & adjust with their current situation.
This is a superb article…The author of this article is actually my dad, so its really great to see this online and view positive feedback and comments from other readers.
Papa: Once again, this is great stuff!
no doubt this article expresses every aspect of middle class in india.well thats the reason impact of financial crisses didn’t occupied too much here.
proud to be an indian!!!!!!!!!!
Very good insight into the great indian middle class mentality….may this class prosper keeping the core values intact
I just simply want to say that Author did a great job, by showing the mirror of the Middle Class in a decent manner..
nice and informative article which shows the indian middle class mentality in a very simple way.
i just say… good job and keep it up.
the article wrirren by Arun Vedhera is very authentic and persuasive.From my own experience,i have noticed many of things to happen in our daily lives,i.e.Watching movie at Muitiplexes in the morning,buying branded clothes during sales or discounts,using cash rather than usind e-cards to buy products.And it’s also very true that due to the emergence of this middle class population,India is less affected by this current economic slowdown.Hats off to these middle class people who are trying to live LIFE in their own terms.Being brought up in a middle class background and being a big dreamer,i want young guys to come up and dream BIG for a greater India and a better community where we as well as our future generations will have better future….JAI HIND
In most cases if festival came then father take new cloths, shoes, belt every think good for family but take or some time take only one dress, not take belt he says he has, not take shoes he says he has chappal.
guys..
all that info in that article is absolutely right..we middle classers must i mean the children should dream big and try to live upto their expectations coz its bcoz of us that they do all the savings and shit..they rely on us deeply n we must not upset them neway possible
i am totelly agree.
awesome article ……..evry point crystal clear……
hey friends i am 22 yrs old and what i beleive is that these multinational companies are eating up our mildle class as the youth are joining call centers for fast cash, they dont want to study much as they r getting a huge amount of money in call centers and other such companies, well they end up spending this money in some branded clothes or food chains like mc. donalds,kfc etc which are again multinationals.
FINAL STATEMNT is they (multynational companies) pay from 1 pocket and they get back their money in other ,only loss in brilliant minds of indian youths.
Gr8 view on India’s Middle class with simple terms….no words to thank you
It’s really a good obervation or a deep study of society……………….gr8……….
The article is really great.
Makarand Malhotra’s view is absolutely right.
very true..helps us to remain rooted always..thank you so much:-)