With its large middle class and healthy stock market, India's booming economy continues to grow in spite of the global financial crisis that has crippled other world economies.
The stock market in the business capital, Mumbai, is up more than 80 percent in the past year. According to reporter Vikas Bajaj of The New York Times, India's separation from American and European markets saved it from the brewing crisis.
The number of middle class working people who can afford cars and computers is now around 300 million people -- the total population in the United States.
Though many middle class Indians enjoy a comfortable lifestyle, about 800 million people try to survive on less than $2 a day.
In this video report from India, NewsHour correspondent Fred de Sam Lazaro looks at India's record growth, the families that are benefiting, and the many people that are still left behind.
Quotes
"I remember asking for a toy. It used to be limited. You know, clothes used to be -- you used to get when there was the festivals. Now it's like, every weekend, he gets a toy. And the quality of health that he has, the quality of life he will have is all secured for him, because we're doing enough for him to save money for him in the future for his education, for his marriage, or for his health, everything." - Ballavi Rai, engineer
"That transition from farm to market, farm to industry, is still sort of very incipient, very slow in India. And, so, you know, 9 percent growth is great, but it's not going to be that great if only a small fraction of the population is enjoying it." - Vikas Bajak, New York Times reporter
Warm Up Questions
1. Where is India?
2. What do you know about India?
3. What has happened to the global economy in the last year?
4. What does it mean to be "middle class"?
Discussion Questions
1. What did you learn from this video? Were you surprised that India has been so successful despite the global economic crisis?
2. According to this video, what does it mean to be middle class? How is the life of a middle class family different in India than in America?
3. How might the booming Indian economy impact people living in poverty? In what ways might it help or hurt them?
Additional Resources
