India/ China To Contribute Majority Of World Middle-Class Population By 2030

Recent financial and demographic studies have revealed that by the time the year 2030 comes around a majority of the middle class population of the world will be from China and India.

It has been estimated that the people of India and China will account for as much as 45 per cent of the middle class population of the world by the year 2030.

These stunning statistics have been recently brought to light by the financial book Southern Engines of Global Growth.

This estimated change comes as a surprise in terms of the Indian context. In the year 2000 a research brought attention to the fact that the universal middle class population had absolutely no representation from the Indian subcontinent. The same study also noted that the Chinese people constituted as much 13.5 per cent of the global middle class population.

The book predicts that by the year 2030 the section of Chinese people forming the worldwide middle class will grow to 38 per cent of the total. This figure is said to be the majority as China will be the largest single contributor to the demographics.

The book also predicts that 6 per cent of the overall middle class in the world will come from India.

These findings predict a new turn of events for international finances and socio- economics.

Times of the Internet