egions around the country. In general a high status is associated with purity and a low status as polluted. Some rankings of purity are inherited as for example in the caste system. An Individual is born into a caste and cannot change it or rank up into another caste. Individuals might be born into a caste with a higher title than others in the same caste. Usually it is not permitted to marry outside of their caste, but it has been happening increasingly.
Although the standard of living in India is growing steadily as well as their middle class, in March of 2019 compared to the US the cost of living in India is 65.31% lower (aggregate date for all cities, except rent)(numbeo). According to “numbeo” rent in India is 84.99% lower than in the US.
As it can be observed the highest cost of living in India is 31.27 on the Index. The most expensive city to live in on average in India is Gurgaon. The cheapest one is Nagpur with a cost of living score of 22.73. An interesting observation is that the most expensive city “Gurgaon” and the cheapest city “Nagpur,” have the two highest “Local Purchasing Power Index” rankings.
Cost of Living by Location of City:
(“https://www.numbeo.com/cost-of-living/country_result.jsp?country=India”)
The above illustration should demonstrate the visual demonstration of the cost of living in India, as well as the location of the cities in the North and the South.
Expenses of Individuals in India:
(“https://www.numbeo.com/cost-of-living/country_result.jsp?country=India”)
The above displayed chart illustrates what the population as a whole mainly spends their income on.
Although India is improving their Standard of Living as a whole and the middle class is emerging, India expects a middle class of 200 million by 2020 and 475 Million by 2030 (“Emerging India”). One must not forget that there is still great poverty in India. There are two main categories; extreme poverty in India and poverty. According to the “World Poverty Clock” India currently has over 47 million people living in extreme poverty (March 30th, Worldpoverty). Extreme poverty is defined by living on less than $ 1.90 per day.
India has a consumer market of approximately 1.339 billion people (March 2019). India being the second most populated country. It is an estimation of it will be the most populated country by 2024. (“United Nations”). Because of India’s rising middle class and standard of living the market is emerging market is growing rapidly and therefore offers great obdurate opportunities for multinational companies. Companies have to move in before the market is being flooded and prices rise. Currently India still offers accessible and affordable labour force. This has already encouraged many multinational companies to outsource some of their business operations to India.
The table above shows the change in population statistics in India since 1955.
According to the “India Economy Equity Foundation” India’s GDP is estimated to have increased 6.6 per cent in 2017-18 and is expected to grow 7.3 per cent in 2018-19. During the first half of 2018-19, GDP (at constant 2011-12 prices) grew by 7.6 per cent. (“IEEF”). In 2017 India reportedly had a GDP of 2.597 trillion USD. The National Institute for Transforming India (NITI) published a strategic document called “Strategy for New India @75” to help India become a US$ 4 trillion economy by 2023.
Technological Environment of India
India belongs to the most technologically advanced countries in the world. With an advanced IT infrastructure and very highly skilled IT workforce, there is still a large niche in which opportunities to embark upon technological projects such as software development and upgrades, mobile apps, e-commerce, and business solutions (just to name a few) are created. Many technology companies have moved to India or see it as a potential market. “India has retained its position as the third largest startup base in the world with over 4,750 technology startups, with about
