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State makes billionaires every month !!
11/08/2017
India makes billions every month. Last year saw the growth of billionaires' wealth quickly, thanks to increased profits and business in new technology.
India's per capita income is the lowest among its peers in the four big emerging markets, thanks in part to its 1.2 billion population.
China's population is 150,000 people, but its average income is almost five times higher than India's. But the number of Indians on Forbes' list of the rich rose from 84 last year to 101 chandeliers.
"It's an unprecedented number," says Fakhri Ahmedov, an executive director of a UK-based wealth consultancy. "It means that a new Indian billionaire joined the list every 33 days last year."
According to Forbes, India included 36 billionaires in 2005, bringing the number in 2010 to 55 billion, and in the past six years India has added 46 billionaires to its list.
India's acquisition of new wealth is due to two factors: rapid economic growth in goods and consumer goods, and redistribution of wealth among successive generations of wealthy billionaires, often creating new billionaires in the local rupee.
Owners of companies of Indian origin have seen their share prices rise over the past year, giving them more capital to reinvest, or profit from larger deals.
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