Prashant Jain Bengaluru wealth summit: blue-collar pay nears entry-level IT
Business
At a recent wealth summit in Bengaluru, Prashant Jain pointed out something interesting: blue-collar workers in India (think drivers, plumbers, and gym trainers) are starting to earn salaries close to entry-level IT jobs.
While white-collar sectors are dealing with stagnant pay and A.I. job worries, rising incomes among blue-collar workers are creating a bigger base of consumers.
Prashant Jain: incomes boost India's consumption
Jain says this shift is actually good for the economy. With more people earning steady incomes and spending more, India's consumption story gets stronger and less dependent on just one group.
He also noted that these workers tend to save more because of lower living costs, which helps stabilize economic growth even as tech jobs face uncertainty.