Indian Economy : News,Discussions & Updates

The data that economy is doomed is very incorrect. The Indian economy depends on small industries and shops, not on big firms which you see in banglore.

The data which government collects and then molds it into growth rate of GDP is restricted to only selected sectors of Indian business and not the whole sector. So whether GDP grows by 8% or 3% will not really effect Indian economy except for few sectors and owners of these firms.
It was a big scam and whitewash about the GDP growth rate.

So if GDP grows even by 20% only the richs will be getting richer the other sector was till now unaccounted and irrelevant to the main stream data. Thus bringing no change into the lives of common man in India or very slow change.

This is the real cause of all the fuzz.
 
Livemint (@livemint) Tweeted:
#Opinion | An embrace of the RCEP could and should hasten our domestic reforms agenda

Opinion | The RCEP as a trade opportunity rather than threat (
https://twitter.com/x/status/1186951287708848128
)
Business Standard (@bsindia) Tweeted:
#Ethanol would be supplied to #OMCs under the ethanol blending programme for doping #petroleum products

@virendrajourno reports

Ethanol blending: UP govt distilleries to supply 53 million litres to OMCs (
https://twitter.com/x/status/1186956443636793344
)
 
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Total wealth in India touches $12.6 trillion
Total wealth in India increased fourfold between 2000 and 2019, reaching $12.6 trillion in 2019, making India the fifth globally in terms of the number of ultra-high net-worth individuals, as per a Credit Suisse study.

According to the study, the wealth per adult in India grew by an average of 11% annually over the period 2000–2019 and the wealth per adult is estimated at $14,569 in mid-2019 after a year of moderate growth.

“Prior to 2008, wealth rose strongly, from $2,127 in 2000 to $6,378 in 2007. After falling 29% in 2008, it rebounded and grew at an average rate of 12% up to 2019,” said the report while adding that personal wealth in India is dominated by property and other real assets, which make up the bulk of household assets.

Incidentally, while India has 8.27 lakh adults in the top 1% of global wealth holders – 1.6% share of the global pool — it is estimated that India has 4,460 adults with wealth of over $50 million and 1,790 that have more than $100 million.

However, the study also found that while the number of wealthy people in India has been on the rise, a larger section of the population has still not been part of the growth in overall wealth.

“While wealth has been rising in India, not everyone has shared in this growth. There is still considerable wealth poverty, reflected in the fact that 78% of the adult population has wealth below $10,000,” stated the report, while highlighting the fact that a small fraction of the population — 1.8% of adults — has a net worth of more than $100,000. Meanwhile, as per the financial major, India is expected to grow its wealth very rapidly and add $4.4 trillion in just five years, reflecting an increase of 43%.
‘Total wealth in India touches $12.6 trillion’
 
RISING SUN said:
Total wealth in India touches $12.6 trillion
Total wealth in India increased fourfold between 2000 and 2019, reaching $12.6 trillion in 2019, making India the fifth globally in terms of the number of ultra-high net-worth individuals, as per a Credit Suisse study.

According to the study, the wealth per adult in India grew by an average of 11% annually over the period 2000–2019 and the wealth per adult is estimated at $14,569 in mid-2019 after a year of moderate growth.

“Prior to 2008, wealth rose strongly, from $2,127 in 2000 to $6,378 in 2007. After falling 29% in 2008, it rebounded and grew at an average rate of 12% up to 2019,” said the report while adding that personal wealth in India is dominated by property and other real assets, which make up the bulk of household assets.

Incidentally, while India has 8.27 lakh adults in the top 1% of global wealth holders – 1.6% share of the global pool — it is estimated that India has 4,460 adults with wealth of over $50 million and 1,790 that have more than $100 million.

However, the study also found that while the number of wealthy people in India has been on the rise, a larger section of the population has still not been part of the growth in overall wealth.

“While wealth has been rising in India, not everyone has shared in this growth. There is still considerable wealth poverty, reflected in the fact that 78% of the adult population has wealth below $10,000,” stated the report, while highlighting the fact that a small fraction of the population — 1.8% of adults — has a net worth of more than $100,000. Meanwhile, as per the financial major, India is expected to grow its wealth very rapidly and add $4.4 trillion in just five years, reflecting an increase of 43%.
‘Total wealth in India touches $12.6 trillion’
Click to expand...
This is the bigges concern
 
Mumbai is the only Indian city in world’s top 20 richest list; Delhi inching closer too
India’s Financial capital Mumbai is among 20 of the world’s richest cities, making it the only Indian candidate in the list. With a total private wealth of $960 billion, Mumbai is also home to most of the country’s HNWIs (High Net Worth Individuals), South Africa-based global market research group, New World Wealth, said in a report recently. Also inhabited by Asia’s richest man Mukesh Ambani, among other individuals with assets worth over Rs 7 crore, Mumbai is the hub of major industries including financial services, real estate and media. However, these rich individuals are concentrated mainly along the coastline of the city, according to a map collated by NW Wealth.

The HNI population of Mumbai is largely concentrated around areas such as Colaba/Cuffe Parade, Churchgate, Malabar Hill, Altamount Road, Breach Candy, Worli Sea Face, Bandra West, Juhu, and, Andheri West. What strikes about Mumbai is the fact that the city is home to one of the largest slum areas in the world — Dharavi — in which people are living in abject poverty. Mumbai’s slum dwellers amount to about 9% of India’s total population.

However, India’s national capital Delhi is also a strong contender for the future as strong growth is expected from Delhi in the coming decade. “Unlike the rest of India, it [Delhi] is home to a large number of well-established affluent residential neighbourhoods. It has a well-diversified economy and is strong in a large number of sectors,” NW Wealth noted. It is also the second wealthiest city of India, albeit it does not feature in the top 20 richest cities.

These are the world’s 20 richest cities

The United State based New York City is the world’s richest city with the private wealth in NYC alone soaring to $3 trillion; an amount which is nearly equal to India’s GDP. Other richest cities include Tokyo, San Francisco Bay area, London, Beijing, Shanghai, Los Angeles, Hong Kong, Sydney, Singapore, Chicago, Toronto, Houston, Geneva, Frankfurt, Osaka, Seoul, Paris and Shenzhen.
Mumbai is the only Indian city in world’s top 20 richest list; Delhi inching closer too
 
@randomradio ;

Contrary to your expectations , India is already a developed country.


@Bali78 ; @Gautam

& contrary to your & my expectations, there are bigger optimists out there than randomradio.
RISING SUN said:
Total wealth in India touches $12.6 trillion
Total wealth in India increased fourfold between 2000 and 2019, reaching $12.6 trillion in 2019, making India the fifth globally in terms of the number of ultra-high net-worth individuals, as per a Credit Suisse study.

According to the study, the wealth per adult in India grew by an average of 11% annually over the period 2000–2019 and the wealth per adult is estimated at $14,569 in mid-2019 after a year of moderate growth.

“Prior to 2008, wealth rose strongly, from $2,127 in 2000 to $6,378 in 2007. After falling 29% in 2008, it rebounded and grew at an average rate of 12% up to 2019,” said the report while adding that personal wealth in India is dominated by property and other real assets, which make up the bulk of household assets.

Incidentally, while India has 8.27 lakh adults in the top 1% of global wealth holders – 1.6% share of the global pool — it is estimated that India has 4,460 adults with wealth of over $50 million and 1,790 that have more than $100 million.

However, the study also found that while the number of wealthy people in India has been on the rise, a larger section of the population has still not been part of the growth in overall wealth.

“While wealth has been rising in India, not everyone has shared in this growth. There is still considerable wealth poverty, reflected in the fact that 78% of the adult population has wealth below $10,000,” stated the report, while highlighting the fact that a small fraction of the population — 1.8% of adults — has a net worth of more than $100,000. Meanwhile, as per the financial major, India is expected to grow its wealth very rapidly and add $4.4 trillion in just five years, reflecting an increase of 43%.
‘Total wealth in India touches $12.6 trillion’
Click to expand...
 
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