| Abstract : |
| The most striking feature of contemporary India is the rise of a confident new middle class. The middle class has been in existence since ages and it has always contributed to the social, political and economic development of India. The aim of my paper is to highlight the impact of middle class on retail, being a sunrise industry in India. During the last six decades, Indian middle class has been growing in numbers as a reflection of the process of development. The high rate of economic growth over the past decade has resulted in a large number of people moving from poverty into the middle class. The National Council of Applied Economic Research (NCAER) has made an attempt to define the middle class in terms of annual income ranging from Rs 2-10 lakhs. |
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