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.

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.

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.

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).

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

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.

Key information about Russia Household Income per Capita

• Russia Annual Household Income per Capita reached 8,179.992 USD in Dec 2024, compared with the previous value of 7,549.747 USD in Dec 2023.
• Russia Annual Household Income per Capita data is updated yearly, available from Dec 1992 to Dec 2024, with an averaged value of 7,177.112 USD.
• The data reached an all-time high of 9,660.697 USD in Dec 2013 and a record low of 183.584 USD in Dec 1992.
• In the latest reports, Retail Sales of Russia grew 1.800 % YoY in Sep 2025.

By 2030, the middle-class population in Asia-Pacific is expected to increase from **** billion people in 2015 to **** billion people. In comparison, the middle-class population of sub-Saharan Africa is expected to increase from *** million in 2015 to *** 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 ** percent of the world’s population had assets valued at less than 10,000 U.S. dollars, while less than *** percent had assets of more than one million U.S. dollars. Asia had the highest percentage of investable assets in the world in 2018, whereas Oceania had the highest percentage 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 among 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.

India Smart Wearable Market was valued at USD 4.89 Billion in 2024 and is projected to reach USD 12.24 Billion by 2032, growing at a CAGR of 12.2% from 2026 to 2032.Key Market DriversIncreasing Health Awareness and Lifestyle Diseases: The increased prevalence of lifestyle disorders such as diabetes, hypertension, and obesity is propelling the use of smart wearables in India. According to the Ministry of Health and Family Welfare's (MoHFW) National Health Profile 2020, hypertension affects over 30% of India's adult population, while diabetes affects more than 77 million individuals. These illnesses are encouraging people to invest in wearables to better track their health and manage their conditions.Growth in Disposable Income and Middle-Class Population: The burgeoning middle class and rising disposable incomes in India are driving up demand for smart wearables. According to the National Statistical Office (NSO), India's per capita income rose by 5.8% in 2020, allowing more people to buy electronic devices such as smartwatches and fitness trackers. One of the primary drivers of the industry is rising purchasing power, particularly among urban populations.

Between the financial year 2016 and 2021, the high income class rural households grew faster than urban super rich households. There was a growth of over ** percent in rural super rich households. On the other hand, destitute classified urban households grew by *** percent.

Nursery Thermometer Night Display Market Outlook

According to our latest research, the Global Nursery Thermometer Night Display market size was valued at $425 million in 2024 and is projected to reach $780 million by 2033, expanding at a CAGR of 6.8% during 2024–2033. The market is experiencing robust growth worldwide, primarily driven by the increasing emphasis on infant health and safety, coupled with growing parental awareness regarding optimal sleeping environments for babies. The surge in demand for advanced monitoring solutions in both residential and institutional settings, such as hospitals and daycare centers, is further catalyzing market expansion. Furthermore, technological advancements in smart nursery thermometers and the integration of night display features are enhancing usability and convenience, making these products increasingly indispensable for modern caregivers.

Regional Outlook

North America holds the largest share in the global nursery thermometer night display market, accounting for approximately 35% of the global revenue in 2024. This dominance can be attributed to the region’s mature healthcare infrastructure, high household income levels, and a strong culture of early adoption of innovative baby care technologies. Additionally, stringent child safety regulations and the prevalence of nuclear families have increased the reliance on advanced nursery monitoring devices. The United States, in particular, leads the regional market due to a significant presence of key manufacturers, robust retail networks, and widespread consumer awareness campaigns. The region's established e-commerce sector also facilitates easy access to a variety of nursery thermometer night display products, further bolstering market growth.

The Asia Pacific region is poised to be the fastest-growing market, with a projected CAGR of 8.2% between 2024 and 2033. This accelerated growth is driven by rising birth rates, expanding middle-class populations, and increasing disposable incomes across key economies such as China, India, and Southeast Asia. Governments in these countries are investing heavily in maternal and child health initiatives, which is fostering greater adoption of advanced nursery care products. Furthermore, rapid urbanization and growing awareness regarding infant health and safety are key factors propelling demand. The proliferation of online retail channels and the entry of international brands into emerging markets are also making nursery thermometer night display devices more accessible to a broader consumer base.

Emerging economies in Latin America, the Middle East, and Africa are witnessing a gradual uptake of nursery thermometer night display products, albeit from a smaller base. Adoption in these regions is often challenged by limited healthcare infrastructure, lower purchasing power, and varying degrees of regulatory oversight. However, localized demand is steadily increasing due to rising awareness about infant care, driven by non-governmental organizations and public health campaigns. Policy reforms aimed at improving child healthcare, coupled with the expansion of modern retail formats, are expected to create new opportunities for market players. Nevertheless, affordability and access remain key hurdles that need to be addressed for sustained growth in these regions.

Report Scope

Time Deposits Market Outlook

According to our latest research, the global time deposits market size reached USD 14.7 trillion in 2024, reflecting the enduring appeal of secure, interest-bearing savings instruments in both developed and emerging economies. The market is expected to grow at a CAGR of 5.2% from 2025 to 2033, with the total market value forecasted to reach USD 23.2 trillion by 2033. This robust growth is primarily driven by rising consumer demand for low-risk investment vehicles, increasing financial inclusion, and the proliferation of digital banking platforms that have made time deposits more accessible and flexible than ever before.

One of the primary growth factors for the time deposits market is the growing emphasis on financial security and stability among individuals and businesses. In an era marked by economic uncertainty, volatile equity markets, and fluctuating interest rates, time deposits offer a predictable return on investment and capital protection. This has led to a substantial increase in adoption among risk-averse investors, particularly retirees and conservative savers. Additionally, regulatory frameworks in various countries mandate certain liquidity ratios for banks, which further incentivizes financial institutions to promote time deposits as a means to secure stable funding sources. The increasing awareness of the benefits of time deposits, such as fixed interest rates and flexible tenures, is also encouraging more individuals and organizations to allocate a portion of their savings to these products.

Another significant driver of market expansion is the digital transformation of banking services. The widespread adoption of online and mobile banking platforms has revolutionized the way consumers access and manage time deposits. Digital channels have not only improved convenience but also enhanced transparency, allowing users to compare rates, manage renewals, and monitor maturity dates with ease. This shift toward digitalization has made time deposits more attractive to tech-savvy millennials and Gen Z consumers, who value seamless, on-the-go financial services. Furthermore, the integration of advanced analytics and personalized product recommendations by banks and fintech companies is helping to match customers with the most suitable deposit products, thereby boosting overall market participation and retention rates.

From a regional perspective, Asia Pacific continues to dominate the global time deposits market, accounting for the largest share due to its vast population, rapid urbanization, and increasing disposable incomes. Countries such as China, India, and Japan have witnessed substantial growth in household savings, much of which is channeled into time deposits. North America and Europe also represent significant markets, driven by mature banking infrastructures and a culture of disciplined saving. Meanwhile, the Middle East & Africa and Latin America are experiencing accelerated growth, supported by financial sector reforms, expanding middle-class populations, and government initiatives aimed at promoting savings and financial inclusion. This regional diversity ensures that the global time deposits market remains resilient and dynamic, with ample opportunities for innovation and expansion across all geographies.

Type Analysis

The time deposits market is segmented by type into fixed deposits, recurring deposits, special deposits, and others. Fixed deposits remain the most popular type, favored for their simplicity, guaranteed returns, and wide availability across banks and financial institutions. With fixed deposits, customers deposit a lump sum for a predetermined period, earning a fixed interest rate throughout the tenure. This segment appeals particularly to risk-averse investors and retirees who prioritize capital preservation and predictable income streams. The increasing trend of laddering fixed deposits—where investors stagger maturity dates to optimize liquidity and returns—has further fueled the growth of this segment. Banks are also innovating by offering flexible withdra

Over a billion Indians were classified under low income in 2019, from only *** million in 2011. The change meant that between 2011 and 2019, about *** million Indians saw an increase in their standard of living, from poor to low income.

In 2022, the majority of Indian adults had a wealth of 10,000 U.S. dollars or less. On the other hand, about *** percent were worth more than *********** dollars that year. India The Republic of India is one of the world’s largest and most economically powerful states. India gained independence from Great Britain on August 15, 1947, after having been under their power for 200 years. With a population of about *** billion people, it was the second most populous country in the world. Of that *** billion, about **** million lived in New Delhi, the capital. Wealth inequality India suffers from extreme income inequality. It is estimated that the top 10 percent of the population holds ** percent of the national wealth. Billionaire fortune has increase sporadically in the last years whereas minimum wages have remain stunted.

Consumer spending across India amounted to 27.2 trillion rupees by the end of the first quarter of 2025. It reached an all-time high during the fourth quarter of 2024, with a value of 28.4 trillion rupees. What is consumer spending? Consumer spending refers to the total money spent on final goods and services by individuals and households in an economy. It is an important metric that directly impacts the GDP of a country. Items that qualify as consumer spending include durable and nondurable goods and services. Various factors such as debt held by consumers, wages, supply and demand, taxes, and government-based economic stimulus can impact consumer spending in a country. Positive consumer outlook in India India’s consumer spending reflects a positive outlook with renewed consumer confidence post-COVID. Its consumer market is set to become one of the largest in the world as the number of middle- to high-income households rises with increasing amounts of disposable incomes. The country’s young demographic is also considered a driving force for increased consumer spending.