look news india
The number of billionaires and the ratio of billionaires’ wealth in India is increasing rapidly. According to the latest report of Swiss bank UBS, the wealth of Indian billionaires has increased by 42 percent to more than $ 905 billion during the last financial year.
India is at third place in this list after America and China. According to the UBS Billionaire Ambition Report, the number of Indian billionaires has more than doubled to 185 in the last 10 years, while their combined wealth by the end of April 2024 will be nearly three times, a huge increase of 263 per cent. According to the report, as India is moving towards the top of the global economy, family businesses are growing rapidly. It also includes those businesses whose companies are listed on the stock exchange. Such family businessmen led to a significant increase in the number of Indian billionaires within a decade.
Wealth growth of global billionaires slows down
On one hand, while the wealth of billionaires is increasing in India, on the other hand, the growth of wealth of billionaires in the world has weakened. The report attributes the increase in the wealth of Indian billionaires to the continued dynamism of Indian businessmen and the country’s favorable economic environment.