Is India's Middle-Class Era Ending? Automation's Role in Economic Shifts

The Changing Landscape of Salaried Employment

It seems the cornerstone of India’s middle economic class is facing an impending shift. According to Saurabh Mukherjea, founder of Marcellus Investment Managers, the stable life once promised by salaried employment is slowly becoming obsolete. In a universe where automation and artificial intelligence penetrate every layer of work, India’s salaried workers find themselves at a crossroads.

The Role of Technology in Transforming Jobs

Automation is reshaping sectors that are traditionally manpower-driven. “Much of what was supposed to be done by white-collar workers is now done by AI. Google says a third of its coding is already done by AI,” Mukherjea remarked in a recent podcast titled Beyond the Paycheck: India’s Entrepreneurial Rebirth. This prediction is a siren call for industries like IT, media, and finance, which must adapt to survive.

The Resurrection of Entrepreneurship

However, there is hope on the horizon. Mukherjea believes our aspirations for a stable paycheck require reevaluation, advocating for a turn towards entrepreneurship. The government’s initiatives like the ‘JAM Trinity’ could play a pivotal role in this transition. “The old model where our parents worked 30 years for one organisation is dying,” reflects Mukherjea, underlining that change is necessary.

A Cultural Shift Towards Happiness and Impact

Mukherjea’s statement, “We should be solving for happiness and impact—not just monthly income,” serves as a profound reminder that societal values may require recalibration. As automation and AI transform the economic structure, families must encourage younger generations toward building businesses instead of being mere job seekers. According to NDTV, India is on the brink of a new era.

Rethinking Success Beyond Salaries

To embrace this new age, society must redefine success not by paychecks but by happiness and impact. As Mukherjea insists, “Families like yours and mine must stop preparing kids to be job-seekers. The jobs won’t be there.” In doing so, India can navigate away from the perceived gloom of automation and step into a prosperous future driven by innovation and entrepreneurial spirit.