Indians Don’t Own Their Time: A Digital Time Trap

India, a land of a billion dreams and aspirations, is a tapestry of diverse economic strata. To truly understand this vibrant nation, one must delve into its three distinct economic realms: India 1, India 2, and India 3. These segments not only illuminate income disparities but also unveil how global and local companies craft their strategies to woo each group. Let’s embark on this enlightening journey.

India 1: The Affluent Minority

First up, we have India 1, home to about 12 crore (120 million) individuals earning a tidy sum of 7 to 8 lakhs per annum or more. Think of them as the crème de la crème of Indian society. This group, with its disposable income and penchant for the finer things in life, is the apple of many a corporate eye. Companies like Zomato, Swiggy, Paytm, Zerodha, and Netflix are practically at their beck and call, offering services that cater to their high-flying lifestyles. Here, convenience meets luxury, and these companies are the ever-eager attendants.

India 2: The Middle-Income Majority

Next, we arrive at India 2, a bustling hub of around 30 crore (300 million) individuals earning between 2 to 3 lakhs per annum. Picture the dynamic middle class—hardworking, aspirational, and the backbone of India's consumer market. Amazon and Flipkart have astutely recognized the potential here, crafting value-for-money offerings that resonate with this group’s sensibilities. The middle class is the engine driving the growth of various sectors, demanding quality at accessible prices.

India 3: The Underprivileged Majority

And then, there's India 3, encompassing nearly 100 crore (1 billion) souls earning less than 1 lakh annually. Despite their humble incomes, this group is a goldmine for tech behemoths like WhatsApp, Facebook, YouTube, and Google. You might wonder, how do these giants profit from individuals with such limited spending power? The answer, dear reader, lies in the alchemy of time.

The Business Model of Time

Here’s where things get intriguing. Companies like Google and Facebook don’t need to sell products directly to India 3; instead, they thrive on the vast amounts of time these users spend on their platforms. This time, dear reader, is then spun into gold through targeted advertisements. Essentially, the countless hours spent scrolling, liking, and watching are monetized, creating a river of revenue from the seemingly modest engagement of India 3.

In this digital age, India's time is a precious commodity. While the users are blissfully engaged, the real profit-makers are often the multinational corporations based far from Indian shores. It’s a scenario where the digital landscape becomes the new battleground for economic power.

Economic Implications

To put it in perspective, the combined might of Google and Microsoft is greater than the GDP of India. These tech titans, by capitalizing on the digital engagement of millions, have amassed tremendous influence and wealth. It’s a modern-day twist on the age-old story of resource extraction, only this time, the resource is intangible—time.

Conclusion

The segmentation of India into these three economic classes paints a vivid picture of modern India’s challenges and opportunities. The vast digital engagement of India 3, while profitable for tech companies, raises important questions about economic equity. As we move forward, there is a pressing need to ensure that the benefits of the digital revolution are more evenly distributed. Creating a fairer digital economy is not just a challenge; it’s an imperative for a just and prosperous future.

In the grand tapestry of India’s economic story, let’s ensure every thread counts, and every second of engagement adds up to a brighter, more inclusive future.

This article is just an excerpt from a YouTube Shorts I just saw from Sharan Hegde 's podcast/interview, and it made me think over this topic. While we already know that if a product is free for the customer, then the customers are themselves a product.