In India, the share of the population that earned at least the equivalent of the highest ** percent of global income earners as of 2022 in purchasing power parity (PPP) terms was ** percent. Hyderabad topped the list with the highest share of middle-class and above category of consumers. Cities from south India topped the list with the first four ranks, followed by the national capital, Delhi.

In the financial year 2021, a majority of Indian households fell under the aspirers category, earning between ******* and ******* Indian rupees a year. On the other hand, about ***** percent of households that same year, accounted for the rich, earning over * million rupees annually. The middle class more than doubled that year compared to ** percent in financial year 2005. Middle-class income group and the COVID-19 pandemic During the COVID-19 pandemic specifically during the lockdown in March 2020, loss of incomes hit the entire household income spectrum. However, research showed the severest affected groups were the upper middle- and middle-class income brackets. In addition, unemployment rates were rampant nationwide that further lead to a dismally low GDP. Despite job recoveries over the last few months, improvement in incomes were insignificant. Economic inequality While India maybe one of the fastest growing economies in the world, it is also one of the most vulnerable and severely afflicted economies in terms of economic inequality. The vast discrepancy between the rich and poor has been prominent since the last ***** decades. The rich continue to grow richer at a faster pace while the impoverished struggle more than ever before to earn a minimum wage. The widening gaps in the economic structure affect women and children the most. This is a call for reinforcement in in the country’s social structure that emphasizes access to quality education and universal healthcare services.

Between the financial year 2016 and 2021, the number of super-rich households in India earning more than 20 million Indian rupees recorded an annual growth of 11.3 percent. The growth is expected to continue in the next decade at 17.5 percent. This will be the fastest growth across all income categories. The share of destitute households is expected to decline by almost 8 percent between financial 2021 and 2031.

In the financial year 2021, the number of super-rich households earning more than ** million Indian rupees went up to **** million from **** million in the financial year 2016. This was an annual growth of **** percent. The number is expected to grow to over **** million in the financial year 2031 and ** million households in the financial year 2047. This will be the fastest growth across all income categories. On the other hand, destitute classified Indian households with earnings of less than *** thousand annually decreased only marginally to ***** million in financial year 2021 from **** million in 2016. However, it is estimated that the number of destitute households will fall to just *** million by the financial year 2047.

India Proportion of People Living Below 50 Percent Of Median Income: % data was reported at 9.800 % in 2021. This records a decrease from the previous number of 10.000 % for 2020. India Proportion of People Living Below 50 Percent Of Median Income: % data is updated yearly, averaging 6.200 % from Dec 1977 (Median) to 2021, with 14 observations. The data reached an all-time high of 10.300 % in 2019 and a record low of 5.100 % in 2004. India Proportion of People Living Below 50 Percent Of Median Income: % data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s India – Table IN.World Bank.WDI: Social: Poverty and Inequality. The percentage of people in the population who live in households whose per capita income or consumption is below half of the median income or consumption per capita. The median is measured at 2017 Purchasing Power Parity (PPP) using the Poverty and Inequality Platform (http://www.pip.worldbank.org). For some countries, medians are not reported due to grouped and/or confidential data. The reference year is the year in which the underlying household survey data was collected. In cases for which the data collection period bridged two calendar years, the first year in which data were collected is reported.;World Bank, Poverty and Inequality Platform. Data are based on primary household survey data obtained from government statistical agencies and World Bank country departments. Data for high-income economies are mostly from the Luxembourg Income Study database. For more information and methodology, please see http://pip.worldbank.org.;;The World Bank’s internationally comparable poverty monitoring database now draws on income or detailed consumption data from more than 2000 household surveys across 169 countries. See the Poverty and Inequality Platform (PIP) for details (www.pip.worldbank.org).

Disposable Personal Income in India increased to 296383300 INR Million in 2023 from 273364818.90 INR Million in 2022. This dataset provides - India Total Disposable Personal Income - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In the financial year 2021, the average annual expenditure of rich households in India was over * million Indian rupees, a stark contrast to destitute category which spent ** thousand Indian rupees. A rich household spent almost ** times that of a destiture household, * times that of an aspirer household, and almost * times that of a middle-class household.

The share of middle class' consumption of gold and jewelry across the country was estimated to be around 17 percent in 2030, up from around nine percent in 2020. As the middle class population increases, the income of the population increases which leads to increase in the consumption of gold, mainly because Indians consider gold as an important investment.

India Full Service Restaurants Market size was valued at USD 11.12 Billion in 2024 and is expected to reach USD 26 Billion by 2032, growing at a CAGR of 11.2% from 2026 to 2032.

Key Market Drivers:

Increasing Middle-Class Population: India's middle class is one of the world's fastest expanding groups and its expansion is important to the growth of the FSR market. By 2030, India's middle class is estimated to number more than 600 Million. As the middle class grows, so does the need for higher-quality, variety eating options, as people with larger discretionary incomes go out more frequently.

Increasing disposable income: As India's economy grows, disposable incomes rise rapidly. By 2025, it is expected that the average disposable income of Indian households will increase by more than 10%. This increase in disposable income is driving up spending on discretionary items like dining out.

In the financial year 2021, the average annual saving of rich households in India was over 606 thousand Indian rupees, a stark contrast to destitute category which saved only five thousand Indian rupees. The middle-class saved almost 130 thousand Indian rupees annually. During the year, a rich household spent almost 25 times that of a destitute household, eight times that of an aspirer household, and almost three times that of a middle-class household.

Financial Planning Service Market Outlook

The global financial planning service market size was valued at approximately USD 3.2 billion in 2023 and is projected to reach around USD 5.8 billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 6.5% during the forecast period. The market is driven by the increasing demand for professional financial advice, burgeoning complexities in personal and business finance, and the growing awareness about the benefits of financial planning services.

The growth of the financial planning service market is significantly fueled by the increasing awareness among individuals and businesses about the importance of financial planning. As people become more educated about managing their finances, the demand for professional financial advisors rises. In addition, the evolving financial landscape, marked by ever-changing tax laws, market volatility, and complex investment opportunities, necessitates expert guidance for effective management of finances. The technological advancements in financial planning tools and platforms also play a pivotal role in making financial services more accessible and efficient, thereby driving market growth.

Moreover, the rising disposable incomes and increasing life expectancy rates are major growth drivers in the financial planning service market. With higher incomes, individuals are more likely to seek professional advice to optimize their investment portfolios, plan for retirement, and secure their financial future. Similarly, as people live longer, the need for comprehensive retirement planning becomes more pressing, resulting in a higher demand for financial planning services. Additionally, regulatory changes and government initiatives aimed at promoting financial literacy and planning further bolster market growth.

The shift towards digitalization and the proliferation of online financial planning services are also significant contributors to market expansion. The convenience and accessibility offered by digital platforms attract a broader client base, including younger generations who are more tech-savvy. Online financial planning services allow for real-time updates, personalized financial advice, and easy management of financial portfolios, thereby enhancing customer satisfaction and driving market growth. Furthermore, the increasing integration of artificial intelligence (AI) and machine learning (ML) in financial planning tools improves the accuracy and efficiency of financial advice, further boosting market growth.

Regionally, North America holds the largest share in the financial planning service market, driven by the high disposable incomes, a well-established financial services industry, and a high level of awareness about financial planning. However, the Asia Pacific region is expected to witness the highest growth rate during the forecast period. The rising middle-class population, increasing disposable incomes, and growing awareness about financial planning in countries like China and India are key factors contributing to the growth of the market in this region. Other regions, such as Europe and Latin America, also present significant growth opportunities due to increasing financial literacy and the adoption of digital financial planning tools.

Service Type Analysis

Investment planning is one of the most significant segments in the financial planning service market. This segment involves the creation of tailored investment strategies to meet clients' financial goals, such as wealth accumulation, retirement planning, and education funding. Investment planning services are in high demand due to the increasing complexity of investment options and the need for professional guidance to navigate market volatility. The growing popularity of mutual funds, exchange-traded funds (ETFs), and other investment vehicles further drives the demand for investment planning services. Financial advisors play a crucial role in helping clients diversify their portfolios and manage risks, thereby enhancing the appeal of investment planning services.

Retirement planning is another critical segment, driven by the increasing life expectancy rates and the need for financial security in old age. As individuals live longer, they require well-structured retirement plans to ensure a steady income stream during their retirement years. Retirement planning services include the assessment of retirement needs, the development of savings strategies, and the management of retirement accounts. The growing awareness about the importance of early retirement planning and the availability of various retirement saving

By 2030, the middle-class population in Asia-Pacific is expected to increase from 1.38 billion people in 2015 to 3.49 billion people. In comparison, the middle-class population of sub-Saharan Africa is expected to increase from 114 million in 2015 to 212 million in 2030.

Worldwide wealth

While the middle-class has been on the rise, there is still a huge disparity in global wealth and income. The United States had the highest number of individuals belonging to the top one percent of wealth holders, and the value of global wealth is only expected to increase over the coming years. Around 57 percent of the world’s population had assets valued at less than 10,000 U.S. dollars; while less than one percent had assets of more than million U.S. dollars. Asia had the highest percentage of investable assets in the world in 2018, whereas Oceania had the highest percent of non-investable assets.

The middle-class

The middle class is the group of people whose income falls in the middle of the scale. China accounted for over half of the global population for middle-class wealth in 2017. In the United States, the debate about the middle class “disappearing” has been a popular topic due to the increase in wealth to the top billionaires in the nation. Due to this, there have been arguments to increase taxes on the rich to help support the middle-class.

India Laundry Appliances Market size was valued at USD 2.72 Billion in 2024 and is projected to reach USD 5.25 Billion by 2032, growing at a CAGR of 8.6% from 2026 to 2032.

India Laundry Appliances Market Dynamics

The key market dynamics that are shaping the India laundry appliances market include:

Key Market Drivers

Rising Disposable Income and Middle-Class Growth: The rising disposable income and expanding middle class in India are significant drivers of the laundry appliance market. According to MOSPI, per capita net national income increased from ₹1,26,521 in 2019-20 to ₹1,72,000 in 2022-23, indicating greater purchasing power for household appliances. The Boston Consulting Group predicts that India's middle class will number between 550 and 600 million individuals by 2025, accounting for roughly 40% of the population. This expansion increases demand for time-saving equipment as middle-class households seek efficiency and modern living standards.

The India milk market is valued at USD 66 billion, driven by rising demand for dairy products, expanding middle-class income, and increased per capita milk consumption.

India Mutual Fund Market size was valued at USD 710.1 Billion in 2024 and is expected to reach USD 1950.1 Billion by 2032, growing at a CAGR of 13.4% from 2026 to 2032.

Key Market Drivers:

Rising Middle Class and Increasing Disposable Income: The rising middle class and increasing disposable income are propelling the India mutual fund market. The NITI Aayog predicts that India's middle class would account for 60% of the population by 2025, resulting in increased financial investment. With increased discretionary money, people are investing more in mutual funds to build wealth. The Reserve Bank of India (RBI) indicated that household financial savings were 11.6% of GDP in FY 2020-21, indicating increasing investment potential.

Digital Transformation and Financial Technology: The digital transformation and financial technology are driving the India mutual fund market, by increasing accessibility and convenience.

Life Insurance Broker Services Market Outlook

The life insurance broker services market size was valued at approximately USD 55 billion in 2023 and is projected to reach USD 85 billion by 2032, growing at a compound annual growth rate (CAGR) of 4.9% during the forecast period. This market growth is driven by a variety of factors, including the increasing awareness about the importance of life insurance, the rising disposable income, and the expanding middle-class population across the globe.

The increasing awareness about the importance of financial planning and risk management is a major factor driving the growth of the life insurance broker services market. As individuals become more knowledgeable about the financial risks associated with unexpected life events, they are more inclined to seek the expertise of life insurance brokers to help them navigate the complexities of life insurance policies. This is particularly evident in emerging economies where financial literacy programs are gaining traction, thereby boosting the demand for life insurance broker services.

Another significant growth factor is the rise in disposable income, especially in developing regions such as Asia Pacific and Latin America. As more people move into the middle class, they are better able to afford life insurance policies. This demographic shift is creating a larger customer base for life insurance brokers, who play a crucial role in advising clients on the best policies to meet their needs. The increased financial stability in these regions is also encouraging individuals to invest in life insurance as a means of securing their financial future.

The life insurance broker services market is also benefiting from technological advancements. The integration of advanced technologies such as artificial intelligence (AI) and big data analytics is revolutionizing the way brokers operate, making it easier for them to offer personalized advice and recommendations. These technologies enable brokers to analyze vast amounts of data to identify trends and patterns, which can then be used to tailor life insurance products to meet the specific needs of their clients. This not only enhances the customer experience but also improves the efficiency and effectiveness of life insurance brokers.

On a regional level, North America holds a significant share of the life insurance broker services market, driven by the high level of awareness and adoption of life insurance policies. The presence of well-established insurance companies and a mature financial services sector further supports the growth of this market in the region. However, the Asia Pacific region is expected to witness the highest growth during the forecast period, owing to the rapidly expanding middle-class population, increasing disposable income, and growing awareness about the benefits of life insurance. The favorable regulatory environment in countries such as India and China is also contributing to the market's growth in this region.

Service Type Analysis

The life insurance broker services market can be segmented by service type into personal life insurance and business life insurance. Personal life insurance represents a significant portion of the market, driven by the increasing awareness among individuals about the importance of life insurance as a means of financial protection for their families. The demand for personal life insurance policies is further fueled by factors such as rising disposable income, growing employment rates, and the availability of a wide range of policy options tailored to meet individual needs. Life insurance brokers play a crucial role in helping individuals navigate the complexities of different policy options, ensuring that they select the most appropriate coverage for their unique circumstances.

Business life insurance, on the other hand, caters to the needs of corporate clients. This segment is gaining traction as more businesses recognize the importance of safeguarding their financial interests and ensuring business continuity in the event of the loss of key personnel. Business life insurance policies, such as key man insurance and buy-sell agreements, are designed to provide financial stability and support to businesses during unforeseen events. Life insurance brokers specializing in business life insurance offer valuable insights and expertise to corporate clients, helping them identify the most suitable policies to mitigate potential risks and protect their business interests.

Within the personal life insurance segment, there are various policy options av

India's laptop market is growing owing to the growing middle class having higher income levels, People can to spend on electronic devices

Fixed Income Asset Management Market Outlook

The global fixed income asset management market size was valued at approximately USD 5.7 trillion in 2023 and is projected to grow to USD 9.3 trillion by 2032, expanding at a compound annual growth rate (CAGR) of 5.5% over the forecast period. The growth of this market is primarily driven by the increasing demand for stable and predictable returns in an uncertain economic environment.

One of the significant growth factors for the fixed income asset management market is the aging global population. As more individuals approach retirement age, the demand for fixed income investments that offer stable returns and lower risk compared to equities is increasing. Retirees and near-retirees often prioritize capital preservation and income generation, which fixed income products are well-suited to provide. This demographic trend is particularly prominent in developed countries but is also becoming more relevant in emerging markets as their populations age and accumulate wealth.

Another crucial growth driver is the rising interest rate environment. As central banks around the world shift towards tightening monetary policies to combat inflation, interest rates are gradually increasing. Higher interest rates make newly issued bonds more attractive to investors due to their higher yields. This situation creates opportunities for fixed income asset managers to attract new investments and cater to clients looking for better returns in a higher interest rate environment. Additionally, higher yields can enhance the overall performance of fixed income portfolios, making them more appealing to both institutional and retail investors.

The increasing complexity and diversity of fixed income products is also contributing to market growth. The fixed income market has evolved to include a wide range of instruments beyond traditional government and corporate bonds. Products such as mortgage-backed securities, municipal bonds, and various structured financial instruments offer different risk-return profiles and investment opportunities. This diversification allows asset managers to tailor portfolios to meet specific client needs and preferences, thereby attracting a broader investor base. The development of innovative fixed income products continues to drive growth in this market by expanding the range of investment options available.

In the realm of private equity, the PE Fund Management Fee plays a crucial role in shaping the investment landscape. These fees are typically charged by fund managers to cover the operational costs of managing the fund, including research, administration, and portfolio management. The structure of these fees can vary, often comprising a management fee based on the committed capital and a performance fee tied to the fund's returns. Understanding the intricacies of these fees is essential for investors, as they can significantly impact the net returns on their investments. As private equity continues to grow as an asset class, the transparency and justification of management fees are becoming increasingly important to investors seeking to maximize their returns while ensuring alignment of interests with fund managers.

From a regional perspective, North America remains the largest market for fixed income asset management, driven by the presence of a well-established financial industry, a large pool of institutional investors, and a high level of individual wealth. However, the Asia Pacific region is expected to exhibit the highest growth rate during the forecast period. Rapid economic growth, increasing financial literacy, and a burgeoning middle class are driving demand for fixed income investments in countries such as China and India. Additionally, regulatory reforms aimed at developing local bond markets and attracting foreign investment are further propelling the market in this region.

Asset Type Analysis

The fixed income asset management market can be categorized by asset type into government bonds, corporate bonds, municipal bonds, mortgage-backed securities, and others. Each of these asset types offers unique characteristics and appeals to different segments of investors, contributing to the overall growth and diversification of the market.

Government bonds are one of the most significant segments in the fixed income market. Issued by national governments, these bonds are considered low-risk investments due to the backing of the issuing g

The Indian roofing industry, valued at $7.59 billion in 2025, is experiencing robust growth, projected to expand at a Compound Annual Growth Rate (CAGR) of 6.50% from 2025 to 2033. This expansion is driven by several key factors. Firstly, the burgeoning construction sector, particularly in residential and commercial real estate, fuels significant demand for roofing materials. Rapid urbanization and rising disposable incomes are contributing to this surge in construction activity. Secondly, increasing awareness of energy efficiency and the adoption of eco-friendly roofing solutions, such as those incorporating solar panels, is driving market diversification and innovation. Government initiatives promoting affordable housing and infrastructure development further bolster industry growth. However, challenges remain, including fluctuating raw material prices and potential supply chain disruptions. The market is segmented by sector (commercial, residential, industrial), material (bituminous, tiles, metal, others), and roofing type (flat, slope). Metal roofing is anticipated to maintain a substantial market share due to its durability and longevity, while the residential sector is projected to show the highest growth rate, given the ongoing housing boom. Key players like Tata Bluescope Steel, CK Birla Group, and Everest Industries are leveraging technological advancements and strategic partnerships to enhance their market position. The competitive landscape is characterized by a mix of established players and emerging companies. While large conglomerates benefit from economies of scale and brand recognition, smaller companies are focusing on niche markets and specialized roofing solutions to gain a competitive edge. Regional variations exist, with higher growth rates expected in urban centers and rapidly developing regions. The industry is witnessing a shift towards sustainable and technologically advanced roofing materials, reflecting a growing emphasis on environmental considerations and improved building performance. Future growth will likely depend on successfully navigating regulatory changes, overcoming logistical challenges, and continuously innovating to meet evolving customer demands for cost-effectiveness, durability, and aesthetic appeal. Recent developments include: July 2023: As a new production and transformation member, ASI welcomes India's pioneer aluminum extrusion company. The facility has two extrusion presses, one established in 1955 with a capacity of 1,250 tons and the other in 1961 with a capacity of 3,300 tons. With both presses together, Alupram Works now has a manufacturing capacity of 12,000 tons per year. With the ASI accreditation, Hindalco Alupram, a pioneer aluminum extrusion company, can now establish its continuous progress on responsible aluminum production, procurement, and stewardship, with the goal of building a sustainable future., March 2023: The largest roof tile company in India, KPG Roofings, has launched its first showroom in Hyderabad, and it's 40th overall. The largest network of roof tile showrooms in India and the most popular brand of roof tiles there is KPG Roofings. KPG Roofings is currently resuming its pan-India growth plan, which was temporarily put on hold in early 2020 owing to supply and logistics challenges encountered in the worldwide market. KPG Roofings is now present throughout all of South India.. Key drivers for this market are: Increasing Disposable Income and Middle-Class Expansion, Increased Awareness of Roofing Solutions. Potential restraints include: Increasing Disposable Income and Middle-Class Expansion, Increased Awareness of Roofing Solutions. Notable trends are: Increasing Construction Activities to Bolster the Growth of the Roofing Industry in India.

The India online home decor market presents a compelling growth story, projected to reach a substantial size, exhibiting a robust Compound Annual Growth Rate (CAGR) of 10.9%. This flourishing market is driven by several key factors. The increasing penetration of internet and e-commerce in India, coupled with a rising middle class with disposable income, fuels the demand for online home decor solutions. Furthermore, the convenience offered by online platforms, including wider product selections, competitive pricing, and easy home delivery, significantly contributes to market expansion. Changing lifestyles, a preference for aesthetically pleasing homes, and the influence of social media showcasing interior design trends also play a vital role. The market is segmented by application (indoor, outdoor), product type (home furniture, home furnishings, others), and price point (mass, premium). While the premium segment may show slower growth compared to the mass segment, both contribute significantly to the overall market value. The competitive landscape is dynamic, with established players and new entrants vying for market share through diverse strategies focused on branding, customer experience, and product innovation. Challenges remain, such as logistics and delivery infrastructure improvements in certain regions, and maintaining consistent quality control across diverse product offerings. However, the overall outlook for the India online home decor market remains optimistic, indicating significant potential for growth and investment in the coming years. Considering the 6.48 billion USD market size in a given year (let's assume this is the 2025 market size), and the 10.9% CAGR, we can anticipate a continuous expansion, fueled by the aforementioned market drivers. This strong growth trajectory is likely to attract further investment and innovation within the sector, driving further market penetration and expansion into underserved areas.