💨 Abstract

India's consumer market is dominated by a wealthy, non-growing population, while the majority of its 1.4 billion people lack spending power. The middle class, traditionally a driver of demand, is shrinking due to stagnating wages. Meanwhile, India has nearly eliminated extreme poverty, but a growing elderly population complicates its path to becoming a developed country. The Economist raises concerns about the elderly's harsh and lonely retirements, particularly for women.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖