Rakesh Kochhar: India’s middle class underperformance

It has proved hard for most Indians to better the global middle-income standard

Perhaps more than ever, India aspires to be a global economic powerhouse. This hope may have been behind the election of Prime Minister Narendra Modi, whose victory is tied by many to public faith in his economic agenda. Mr Modi, in fact, has launched a “Make in India” campaign that aims directly to boost investment and manufacturing in the country. The focus on economic issues is evident online: a Google search for “and


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