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A Rising Consumer Class
Manish Sonthalia, World Economics, December 2010
India has had two stages of growth, both related to consumption since 1947. The first was based on developing economic self sufficiency; the second on rising disposable income. It is now entering its third period of consumption growth which sees it entering the world stage as one of the largest consumers in the world. This paper explains the factors that are driving this dramatic shift from the emerging middle classes to the patterns of consumption and investment in India today.

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