India’s falling wages squeezes urban middle class and economy

Indian wages contracted last quarter for the first time since the pandemic. This curbed consumer spending and led to weaker corporate profits among major companies like Maruti Suzuki and Hindustan Unilever. The slowdown poses challenges for the government’s growth goals. Opposition parties criticized the government for ignoring the economic difficulties of the middle class. Indian wages contracted last quarter for the first time since the pandemic. This curbed consumer spending and led to weaker corporate profits among major companies like Maruti Suzuki and Hindustan Unilever. The slowdown poses challenges for the government’s growth goals. Opposition parties criticized the government for ignoring the economic difficulties of the middle class.  Economic Times