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1
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34548257235
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The full report, The 'Bird of Gold': The Rise of India's Consumer Market, is available free of charge online at www.mckinsey.com/mgi.
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The full report, The 'Bird of Gold': The Rise of India's Consumer Market, is available free of charge online at www.mckinsey.com/mgi.
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2
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34548287972
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We have converted Indian rupees to US dollars at the base year 2000 exchange rate of 45.7 rupees to the dollar. Purchasing-power-parity figures were converted at the rate of 8.5 rupees to the dollar
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We have converted Indian rupees to US dollars at the base year 2000 exchange rate of 45.7 rupees to the dollar. Purchasing-power-parity figures were converted at the rate of 8.5 rupees to the dollar.
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3
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34548245943
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Methods of measurement differ across countries and may understate India's urbanization rate, but the general point remains valid.
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Methods of measurement differ across countries and may understate India's urbanization rate, but the general point remains valid.
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4
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34548258724
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The next six are Kolkata, Chennai, Hyderabad, Bangalore, Ahmedabad, and Pune
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The next six are Kolkata, Chennai, Hyderabad, Bangalore, Ahmedabad, and Pune.
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5
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34548244033
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There is no standard definition of India's middle class. In our study we adapted a methodology, from India's National Council of Applied Economic Research (NCAER), defining the middle class as households with a disposable income of 200,000 to 1,000,000 rupees ($4,380 to $21,890) a year in real 2000 terms. That seems quite low in the context of a developed country, but because the cost of living is lower in India, this range of income buys a recognizably middle-class lifestyle. In purchasing-power-parity terms, the range is comparable to an income of $23,530 to $117,650 in a developed country such as the United States.
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There is no standard definition of India's middle class. In our study we adapted a methodology, from India's National Council of Applied Economic Research (NCAER), defining the middle class as households with a disposable income of 200,000 to 1,000,000 rupees ($4,380 to $21,890) a year in real 2000 terms. That seems quite low in the context of a developed country, but because the cost of living is lower in India, this range of income buys a recognizably middle-class lifestyle. In purchasing-power-parity terms, the range is comparable to an income of $23,530 to $117,650 in a developed country such as the United States.
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6
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34548256277
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See MGI's parallel study on China's consumer market, From Made in China to Sold in China: The Rise of the Chinese Urban Consumer, available free of charge online at www.mckinsey.com/mgi.
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See MGI's parallel study on China's consumer market, From Made in China to Sold in China: The Rise of the Chinese Urban Consumer, available free of charge online at www.mckinsey.com/mgi.
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7
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34548244497
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Housing too could reasonably be considered a necessity, but we excluded it in our cross-country comparisons because of significant variations in national housing market structures, regulations, and measurement methodologies. By contrast, the consumption of food and apparel is fairly comparable across countries
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Housing too could reasonably be considered a necessity, but we excluded it in our cross-country comparisons because of significant variations in national housing market structures, regulations, and measurement methodologies. By contrast, the consumption of food and apparel is fairly comparable across countries.
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8
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34548294686
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Brazil, China, Germany, South Korea, and the United States
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Brazil, China, Germany, South Korea, and the United States.
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