India's economic growth has paradoxically led to a shrinking middle class and extreme wealth concentration. The middle 30-70% of earners have lost substantial income and wealth shares since 1989. This "jobless growth," driven by capital-intensive sectors and a services-led economy, creates few stable middle-income opportunities. Inadequate education and public policies that neglect this segment intensify the problem, leaving them squeezed by limited income growth and escalating costs. This trend jeopardizes India's growth model, which relies on middle-class consumption, ultimately undermining sustainable economic progress.