bove 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.