India's One Percent Club Grows Rapidly
By siliconindia   |   Wednesday, 25 January 2012, 00:32 IST
Printer Print Email Email
India\'s One Percent Club Grows Rapidly
Compared to other income groups, rich spend more on clothing, durable goods and health. On statistics for transportation is 14.7 percent for high income group, and 13.5 percent and 11.6 percent for middle and aspiring class respectively. There is also 13.8 percent miscellaneous expenditure by rich households in comparison to 12.5 percent of the middle class and 10.9 percent of aspirers. Indians have a fetish for gizmos and gadgets. Around 61 percent of the population owns a mobile phone, 18 percent have smartphones and roughly 36.7 percent have desktop computers. While the percentage for laptop, and notebook owner rounds up at 35 percent. Palmtops and personal digital assistant (PDA) access is at 5.7 percent. The families in west vary a lot in terms of income. In U.S. the families earn more than 10 times what we earn in India. The cut off for top one percent families in U.S. in somewhere around$500,000 to $700,000, which is around 20 times more than Indian figure. But converting through purchasing power parity it brims down this number to 10 times.

Digital Supply Chain Transformation – Winning the AI/ML Way