The upper-middle-class India, the “octopus class” of roughly a million super rich individuals, is absolutely booming. There are three massive drivers of affluence for premium India – the stock market, the SME class and global capability centres creating 4-5 million jobs not only in metros but also in the next tier cities.
Saurabh Mukherjea, along with his colleague Nandita Rajhansa, has coined the term the "octopus class" to analyse the rise of this affluent class in India.