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04: India Inc: India income contrasts

  • The top 10% alone earns 33% of all income.
  • 46% of the income is accounted for by the top 20% of the people.
  • The lowest 20% accounts for only 8% of incomes.

The billionaires

  • India's 40 billionaires are worth $351 billion
  • Its four richest –Lakshmi Mittal, Ambani, Anil Ambani, and Mr. Kushal Pal Singh – hold more than half that.
  • India's four wealthiest men are now worth more than China's 40 wealthiest combined.
  • The total wealth of the top 2 Indian billionaires ($52.1 billion), almost double that of all 20 Chinese billionaires together.
  • The concentration and wealth of the Indian billionaires ($191 billion dollars) far exceeds the wealth of their Chinese counterparts ($28.9 billion dollars).
  • The wealth of 35 billionaire families exceeds that of 800 million poor peasants, landless rural workers and urban slum dwellers.
  • Only 3 million Indians – from a working-age population of 321 million – hold stocks. A further 3.5 million hold stocks through mutual funds.

We have more millionaires than many 'rich' countries!

  1. United States - 415
  2. Germany - 55
  3. Russia - 53
  4. India - 40
  5. Britain - 29
  6. Turkey - 25
  7. Japan - 24
  8. Canada - 23
  9. Taiwan - 21
  10. China, Brazil, Spain – 20 each

Source: Forbes, 2007.

and in 2008

  • For the first time ever, the number of worlds billionaires crossed into four figures, reaching 1,125.
  • The total net worth of the group is $4.4 trillion, up $900 billion from last year.

At number 4, the ranking remains the same for India

  1. USA, 469
  2. Russia, 87
  3. Germany, 59
  4. India, 53

Though there are a few surprises in the details!

  • 4 of the top 8 are from India!
  • India had only 4 billionaires in 2004, 40 in 2007 and 53 in 2008.

... a rather rapid rise.
Source: Forbes, 2008.