ICE 360° Publications

The Publications section serves PRICE's clientele with a comprehensive selection of new and recent publications that reflect the research interests of the organisation. This section is dedicated to the publication and dissemination of the research findings of PRICE. The publications catalogue includes reports, monographs, working papers, discussion papers and reprints.



From Middle India to the Middle Class of India: Inclusive Growth as the Path to Success

Middle India has been neglected in the last two decades after India’s first wave of economic reforms of the 1990s. If Middle India continues to be left behind, then domestic demand is unlikely to be strong enough to help drive India’s growth acceleration. Middle India is therefore critical to India’s economic takeoff.

Transforming Middle India into the nation’s genuine middle class would fundamentally support the government’s ambitious efforts to increase GDP growth rates to the 8-10% range. With faster growth in household income in Middle India, domestic demand would become stronger more quickly. This in turn would open up new opportunities for more productive business investment targeting the domestic market, including opportunities for small businesses and start-ups. A virtuous circle can then be set in motion.

This report assesses the prospects of transforming Middle India into the middle class of India using detailed household income and expenditure survey data produced by Rama Bijapurkar, Rajesh Shukla, and others in 2014 in the research report Middle India: Key to Inclusive Growth and a Prosperous Future India, published by People Research on India’s Consumer Economy (PRICE).

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The Cost of Cash in India, 2014

The payments business in India is on the cusp of a revolution. With rapid growth and modernization of the economy, there is no doubt that a majority of India’s 1.2 billion plus citizens will demand and get modern financial services far superior to what their parents’ generation enjoyed. It is simply a matter of when the supply side catches up. This report is the product of a research effort that analyzed the most pertinent policy documents, reports, scholarship, expert interviews, and payments data. It is the second in a series of country reports on The Cost of Cash by the Institute for Business in the Global Context (IBGC). The series seeks to ascertain the private costs and risks of cash management facing diverse stakeholders in society: consumers, business, government, and financial systems.

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Indian Consumer Market 2020: Structure, Size, Growth and Intensity

Rajesh Shukla and Mridusmita Bordoloi

With the rapid expansion and globalization of Indian consumer market, there's never been a more urgent need for pertinent, credible information on consumer purchasing patterns and product preferences. Some of the questions that have always been in the minds of marketers, strategists, policy-makers and researchers

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Working Papers

Rama Bijapurkar, Rajesh Shukla and Mridusmita Bordoloi (2014), Reasons and Attitudes to Using Cash in India, IBGC Working paper 14-03 April 2014

The Institute for Business in the Global Context, The Fletcher School, Tufts University

To download the working paper click here >> ACP_PDF 2_file_document

Megha Shree and B.S. Mehta (2016), Good or Bad Jobs: Women in Indian Manufacturing Sector in Sinha (, Eds.), pp: 219-241, ISBN No.: 978-81-8484-595-2.

Contemporary Issues in Business and Economy, New Delhi: Regal Publications

To download the working paper click here >> ACP_PDF 2_file_document
Since its launch in September last year, Reliance Jio, the brand new mobile offering of the Mukesh Ambani-led behemoth Reliance Industries Ltd (RIL) has grown at a fast pace, already grabbing more than 10% of market share in the telecom sector...