In Nouveau Riche India, Even the Poor Show Off

A nation that once relied on castes to categorize its citizens can now use possessions to reflect self-worth. Enjoying exploding income growth, consumers in India seek out the latest technology to reflect status. This trend emerges across all socioeconomic levels, with a recent study showing that spending across all economic segments is up by about 50 percent, reports The Christian Science Monitor. The growing middle class in India is increasingly adopting the buying habits of wealthy Westerners, with storekeepers reporting rising sales of plasma TVs and cell phones. Companies that make luxury products once assumed that Indians would have no interest in luxury products – but no more. The trend is predicted to continue: Consumers who can purchase top-brand items, from BMWs to BlackBerry phones, is expected to grow tenfold, to 23 million, by 2025. – YaleGlobal