India, till now was classified as `developing' country, will now be called `lower-middle income' For decades, `developed' and `developing' have served as agreeable economic nomenclatures to classify countries based on their prosperity and standards of living. That's about to change, with the World Bank switching to more precise, though unvarnished, descriptions of economies. And India -which till now found a place under the common umbrella with other `developing' countries -will now be called `lower-middle income countrySouth Asia'. The more specific definitions are aimed at categorising economies which though `developing' in character, differ dramatically from one another. For instance, India, Mexico and Malawi may be hardly comparable even if a few economic and social parameters overlap. With economies becoming less and less homogeneous, the multilateral agency will group countries based on geographical coverage and income levels to capture the