Growth That's Even More Inclusive

Will India’s growing middle class drive its social and economic transformation? The investment community, both global and Indian, has been licking its lips at the prospects of India’s middle class market. Middle class values are thought to be sources of good social, political and economic behaviour. But there is nothing guaranteed here. Many countries with large middle classes faltered in the development process. Today’s industrialised countries grew slowly by the standards of India’s current aspirations. A lot will depend on questions of development design.