The Great Indian Middle Class

It really does exist and, even when blessed with modest means, is successful and entrepreneurial.

I recently received a poison pen letter from an ex-employee who quit and wanted to come back. Rather than asking for his job back, which we would have been delighted to give him, he decided to write us a poison pen letter damning all his former compatriots and praising to skies his now absent self.

Among the charges that he levelled at people were the sizes of their brokerage accounts. I was amazed, though not shocked, as none of them was 'disproportionate to their known sources of income'.

The well employed are obviously saving away, and in financial assets to boot.

This bodes well for growth.