Traditionally careful with their money, Indians have contributed to a high savings rate; a fact that may change with a boom in new consumer goods and the introduction of credit cards.
The Indian middle-class is as much a social and cultural elite as it is a product of economic reform. With the flood of new consumer goods, flooding the Indian market place, has come a whole new class of consumers which is transcending traditional caste and community.
Even the humblest households proudly display an array of previously unattainable goods like televisions, bicycles, refrigerators and other home appliances. At the other end of the consumer spectrum, the nouveau riche sport the latest status symbols, including cellular telephones, new cars, and a taste for western style fast food and fashions.