Myth about 300 million middle class Indians Purchasing power

Sometimes I am really surprised when I hear or read the news that there is some strong 300 million middle class consumer base in India who has almost same purchasing power as middle classes income group people in USA or in Europe.

Well to put it straight, I completely disagree and would like to say that there is no such 300 million middle class consumer base in India who has same purchasing power as middle income group European or American at least till now year 2008.

Also the spending power of middle and high income group Indians is highly overestimated by experts from eminent consulting organizations.

The reason for this is that people who are making these reports sit in their offices without ever actually going out to the Indian marketplace and have never tried to look into the Indian consumer mind.

Let’s understand the myth of high purchasing power;