23 May '11, 10am

Flashy fashion grows as India’s rich flaunt wealth: In booming India, being rich is not enough. For the moneyed

Flashy fashion grows as India’s rich flaunt wealth: In booming India, being rich is not enough. For the moneyed

In booming India , being rich is not enough. For the moneyed classes, it’s increasingly about flaunting their wealth in ways typical of the nouveaux riches in Russia, China or the Middle East. India’s well-heeled used to be more shy about displaying their wealth in the decades after independence from Britain when a tightly-controlled economy and dominant socialist thinking limited the opportunities for showing off. But many prosperous Indians are embracing conspicuous consumption, turning their backs on the mantra of frugality espoused by independence hero Mahatma Gandhi, the father of the nation who eschewed possessions. “They have thrown off the parsimonious Gandhian phase when it was considered poor taste to flash wealth,” says Radha Chadha, co-author of “The Cult of the Luxury Brand” who has studied the affluent in Asian countries. The biggest sign of changing attitude...

Full article: http://www.luxuo.com/super-rich/india-nouveaux-riches.html

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