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Is India’s Middle Class Big Enough For. . . ?

This is a joint post with Christian Meyer.

For global producers of consumer products, the rise of a middle class in India is great news. Dunkin’ Donuts, Starbucks, and IKEA have all recently announced they will move into the Indian market. The Swedish furniture maker plans to invest up to €1.5 billion over the next 15 to 20 years. A growing and more economically secure middle class in a country that, for all its troubles, is expected to continue to grow at a healthy if not torrid pace, ensures a healthy consumer market for years to come.