HISA 3003 Lecture 21: The Indian Middle Class

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University of Virginia
History-South Asian History
HISA 3003
Nabaparna Ghosh

Thursday, April 21, 2016 The Indian Middle Clasa HISA 3003 Globalization Rise of a new middle class Directly connected to the new principle of economic development in the 1990s Started in 1992 A new Model of Development did it benet all Indians? Development of all of India? Supported by BJP Mukesh Ambani One of the richest men in the world Most expensive property Antilla Sits at the heart of Mumbai Is Mumbai a city of slums (as depicted in Slumdog Millionaire) or a city of millionaires with average house prices reaching 1+ million In reality Mumbai is both A New Model of Development Pillar of the policy was Economic Liberalization = Facilitated Privatization and globalization Privatization destroyed the public sector Could not coexist Private companies outpaid employees than public sector Bureaucratic process in private companies = faster Private companies got land at very cheap values = Companies used the money which it got from prot and from government 1
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