A majority of India's population falls in the middle income bracket with over 121 million households with a gross annual income was between 7,700 to 15,400 U.S. dollars in 2016. This figure is expected to grow up to 140 million households by 2025, thus making India's middle class a large entity of the total population in terms of wealth and standard of living.
Number of households by gross annual income brackets across India from 2010 to 2025
(in millions)
*Forecast.
Note: One Indian rupee is equal to 0.015 U.S. dollars and 0.013 euros as of July 2019.
Elite households were those that earned more than 30,800 U.S. dollars gross annual income; affluent households earned between15,400 to 30,800 U.S. dollars annually; aspirers were those that earned between 7,700 to 15,400 U.S. dollars annually; next billion households earned between 2,300 to 7,700 U.S. dollars; and struggler households were those that earned less than 2,300 U.S. dollars annually.
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EY. (May 30, 2019). Number of households by gross annual income brackets across India from 2010 to 2025 (in millions) [Graph]. In Statista. Retrieved May 26, 2020, from https://www.statista.com/statistics/482584/india-households-by-annual-income/
EY. "Number of households by gross annual income brackets across India from 2010 to 2025 (in millions)." Chart. May 30, 2019. Statista. Accessed May 26, 2020. https://www.statista.com/statistics/482584/india-households-by-annual-income/
EY. (2019). Number of households by gross annual income brackets across India from 2010 to 2025 (in millions). Statista. Statista Inc.. Accessed: May 26, 2020. https://www.statista.com/statistics/482584/india-households-by-annual-income/
EY. "Number of Households by Gross Annual Income Brackets across India from 2010 to 2025 (in Millions)." Statista, Statista Inc., 30 May 2019, https://www.statista.com/statistics/482584/india-households-by-annual-income/
EY, Number of households by gross annual income brackets across India from 2010 to 2025 (in millions) Statista, https://www.statista.com/statistics/482584/india-households-by-annual-income/ (last visited May 26, 2020)
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