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This growth is considerable when compared to the
growth of European countries, which is less than 2 percent on a 10-year average, and the growth of the American
economy, which is approximately 3 percent.
Moreover, there has been significant reduction in poverty levels and increase in quality consciousness among the
Indian rural and urban ?under-served' in the past 10 years. This changing scenario in the Indian economy could
translate into an investment opportunity for many multinational companies.
Figure 1: Indian Income Classes 2003:2004
Source: National Council of Applied Economic Research (NCAER)
The NCAER analysis (fig 1) shows an increase of over 150 percent in the number of consumer class households in
the last 10 years...
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