{"id":322121,"date":"2010-02-15T05:16:00","date_gmt":"2010-02-15T10:16:00","guid":{"rendered":"http:\/\/www.businessinsider.com\/faber-dont-ignore-india-2010-2"},"modified":"2010-02-15T05:16:00","modified_gmt":"2010-02-15T10:16:00","slug":"faber-indias-middle-class-will-soon-be-larger-than-americas","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/322121","title":{"rendered":"Faber: India&#8217;s Middle Class Will Soon Be Larger Than America&#8217;s"},"content":{"rendered":"<p><img decoding=\"async\" class=\"float_right\" src=\"http:\/\/static.businessinsider.com\/image\/4b5989700000000000b43cc1-400-\/marc-faber.jpg\" border=\"0\" alt=\"marc faber\" width=\"400\" \/><\/p>\n<\/p>\n<div style=\"float: left; padding: 15px 15px 15px 0;\">\n<script type=\"text\/javascript\">\/\/ <![CDATA[\ntweetmeme_source = 'moneygame'; tweetmeme_service = 'bit.ly';\n\/\/ ]]><\/script><br \/>\n<script src=\"http:\/\/tweetmeme.com\/i\/scripts\/button.js\" type=\"text\/javascript\"><\/script>\n<\/div>\n<p>In this month&#8217;s Doom, Gloom, and Boom report Marc Faber reminds us why India has a for more sustainable <em>long-term<\/em> growth story than China due to a population that will keep growing through 2050 and a far more developed political landscape (even if China has the more developed industrial one).<\/p>\n<p>Sure China will likely be the dominant growth story for the next decade or more, but India will be rapidly growing as well.<\/p>\n<p>Keep in mind Indian GDP just blew away expectations, accelerating to <a href=\"http:\/\/www.businessinsider.com\/now-its-their-turn-indian-industrial-growth-soars-to-twenty-year-high-2010-2\">a twenty year high last week<\/a>.<\/p>\n<p><a href=\"http:\/\/www.moneyshow.com\/investing\/global.asp?aid=GlobalPer-18937\">Faber via The Money Show:<\/a><\/p>\n<p style=\"padding-left: 30px;\">In the year to March 2009, India added 125 million mobile phone subscribers! And whereas Indian auto sales are tiny compared to China&rsquo;s vehicle sales (running currently at an annual rate of over 12 million units and up over 90% year on year), they are nevertheless up 39% year on year, with an annual rate of 1.6 million sales.<\/p>\n<p style=\"padding-left: 30px;\"><strong>India&rsquo;s middle class is estimated at 170 million (half the population of the US), <\/strong>and the country has one of the lowest vehicle-penetration rates in the world. Given that India also has one of the youngest populations&mdash;half of its 1.1 billion-plus people are less than 25 years old, compared to 42% in Brazil, 36% in China, and less than 30% in the developed nations&mdash;car sales will undoubtedly continue to soar in the next few years. In this respect, we should also take into account that <strong>India&rsquo;s population will continue to grow rapidly and will exceed China&rsquo;s population before 2030.<\/strong><\/p>\n<p style=\"padding-left: 30px;\"><strong>&#8230;<br \/><\/strong><\/p>\n<p style=\"padding-left: 30px;\"><strong>McKinsey estimates that by 2025, India&rsquo;s middle class (households with disposable incomes of from 200,000 to one million Rupees a year) will increase to close to 600 million people<\/strong>, or more than 40% of the population.<\/p>\n<p style=\"padding-left: 30px;\"><strong><a href=\"http:\/\/www.moneyshow.com\/investing\/global.asp?aid=GlobalPer-18937\">Read more here &gt;<\/a><\/strong><\/p>\n<p><a href=\"http:\/\/www.businessinsider.com\/faber-dont-ignore-india-2010-2#comments\">Join the conversation about this story &#187;<\/a><\/p>\n<p><b>See Also:<\/b><\/p>\n<ul>\n<li><a href=\"http:\/\/www.businessinsider.com\/iraq-and-india-plot-to-overthrow-saudi-arabias-oil-dominance-2010-2\">How Iraq And India Will Overthrow Saudi Arabia&#8217;s Oil Dominance<\/a><\/li>\n<li><a href=\"http:\/\/www.businessinsider.com\/modern-indian-women-ditching-heavy-gold-chains-for-diamonds-2010-1\">India&#8217;s Enormous Gold Market Slammed As Modern Women Discover That Heavy Gold Chains Are Gaudy<\/a><\/li>\n<li><a href=\"http:\/\/www.businessinsider.com\/morgan-stanley-ceo-of-india-quits-2010-1\">Morgan Stanley Loses Its Top Guy In India<\/a><\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/feeds.feedburner.com\/~r\/TheMoneyGame\/~4\/Cms6S-jUxsU\" height=\"1\" width=\"1\"\/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In this month&#8217;s Doom, Gloom, and Boom report Marc Faber reminds us why India has a for more sustainable long-term growth story than China due to a population that will keep growing through 2050 and a far more developed political landscape (even if China has the more developed industrial one). Sure China will likely be [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-322121","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/322121","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=322121"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/322121\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=322121"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=322121"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=322121"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}