India’s middle‑class crisis: the great bifurcation and the Gen Z uprising
The student protests we have been witnessing in India can be explained in large part by the crisis facing the Indian middle class, marked in particular by graduate unemployment and a decline in average purchasing power. This is because the upper middle class has grown wealthier, while the lower-middle class has become poorer. Until the mid-2010s, the idea that India’s middle class was destined to expand continuously seemed self-evident. India had enjoyed double-digit growth during the decade from 2004 to 2014 under Prime Minister Manmohan Singh, the architect of the economic liberalisation of the 1990s driven by the IT sector