Who’s Really Paying for Luxury? India’s Silent Squeeze on the Strivers

Image Source: Outlook Money

Economic Snapshot
Ashish Singhal, co-founder of CoinSwitch, has stirred a nationwide debate with a viral LinkedIn post that lays bare India's expanding wealth gap. While exorbitant spending soars and the super-rich multiply, Singhal warns that the middle class is silently taking the hit—without realizing it.

Key Takeaways

India's rich population is projected to grow 50% by 2028, the highest globally

On the other hand, middle 60% income growth has remained flat at only 0.4% CAGR over the last decade

Food prices have risen nearly 80%, eating into purchasing power and compelling families to turn to credit

Singhal refers to this as a "well-dressed decline"—where EMIs are paid, phones are upgraded, but healthcare and savings are cut back

He argues that the middle class is subsidizing the system, footing the bill for consumption without access to wealth-building vehicles like investments

While artificial intelligence looms over white-collar jobs and welfare targets the poor, the middle class is left to absorb economic punches quietly

Singhal's blog has hit a chord, challenging policymakers and citizens alike to reconsider the way India appreciates its economic pillar.

Sources: MSN India, Business Today, Outlook Money, Times Now News