This is CBSi on the world. I'm John Bachelor. I welcome Saddam Dumé of the American Enterprise

Institute writing his column for the Wall Street Journal. And we go to a statistic that

Saigonon provides. I never knew to ask about who are the consuming class

of citizens in the vastness of the subcontinent India, more than one billion people, the

consuming class.

And it turns out there's a definition.

30 million households, roughly 120 million people of the 1.4 billion, an annual per capital income equivalent to $15,000 represent the

consuming class.

Saturn on, a very good evening to you, that consuming class, that is the kernel that grows into the oak tree.

$15,000 a year.

What does that mean if I'm living in Delhi or Bangalore?

Do I live well to do?

Do I have a house? Do I have two cars? What does it look like?

Well, very good evening to you, John. Yes, you know, so the point of the column is that there's something that's happened in India that really

had never happened before in history, which is that it has a group of people that in

percentage terms is still a very small percentage of the

country right it's less than 10 million it's less than 10% of the country let's say

it's 120 million people out of 1.4 billion that's about 8 or 9% of the country

but that 120 million people That's about 8 or 9% of the country.

But that 120 million people, by some accounts,

accounts for almost 50% of India's GDP.

So to answer your question, if you per capita income of $15,000 a year in India

...