In Focus-Weekend | What do tech disruption and stagnant wages mean for India’s middle class?

Is India’s middle class facing an economic crisis? A new book, ‘Breakpoint: The Crisis of the Middle Class and the Future of Work’ by Saurabh Mukherjea says that it is. It argues that three factors have upended the consumption-driven model that powered the prosperity of India’s middle class since 1991. These are: technological disruption eliminating white collar job creation, wage stagnation eroding purchasing power, and explosive household debt, which exceeds levels seen in US and China. At the same time, India’s graduate unemployment stands at 29%. If the middle class is in crisis, what does it mean for the India growth story? Will AI lead to a total collapse, or will it help in a positive transformation? Can the middle class dig itself out of its current hole? We speak with the author of Breakpoint, Saurabh Mukherjea. Host: G Sampath Producer: Shiksha Jural Learn more about your ad choices. Visit megaphone.fm/adchoices