Is India’s boom helping the poor?
What vehicle sales reveal about the country’s growth
In a land where labour is cheap, the man who drives the most luxury cars is not a billionaire. He is a parking attendant. On a meagre salary, he must park, double-park and triple-park cars in tight spaces, and then extricate them. In India, where car sales have increased by 16% since the start of the covid-19 pandemic—a trend partly driven by the growing popularity of hefty sports-utility vehicles—this tricky job is becoming even more difficult.
This article appeared in the Finance & economics section of the print edition under the headline “Two-speed transmission”
Finance & economics March 4th 2023
- America’s property market suggests recession is on the way
- Russia’s sanctions-dodging is getting ever more sophisticated
- The anti-ESG industry is taking investors for a ride
- China’s cities are on the verge of a debt crisis
- Is India’s boom helping the poor?
- David Solomon lacks answers for Goldman Sachs’s angry investors
- Ajay Banga may be just what the fractious World Bank requires
- The case against Google hinges on an antitrust “mistake”
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