Extreme rich......where India stands

[ashok mourya]

India is home to the fourth largest number of ultra-high-net-worth households that have more than 100 million dollars in private wealth, according to a new report topped by the US.

The Boston Consulting Group's 'Global Wealth 2015: Winning the Growth Game' report said continued economic expansion of China and India was driving growth in wealth in the Asia- Pacific region.

The US remains the country with the largest number of ultra-high-net-worth (UHNW) households at 5,201, followed by China (1,037), the UK (1,019), India (928) and Germany (679) in 2014, it said.
India's UHNW households grew manifold from 2013 when the number stood at 284.

The private wealth in the Asia-Pacific region expanded by a steep 29% in 2014 to reach $47 trillion, enabling it to overtake Europe (Eastern and Western Europe combined) to become the world's second-wealthiest region, the report said.

With a projected $57 trillion in 2016, Asia-Pacific (excluding Japan) is expected to surpass North America (a projected $56 trillion) as the wealthiest region in the world and will be the largest pool for client acquisition.

"At such a pace, the region is expected to overtake North America as the world's richest region in 2016, with $57 trillion in private wealth," the report released yesterday said.

The region is also projected to hold 34% of global wealth in 2019.

With a projected annual growth rate of almost 10%, private wealth in Asia-Pacific will rise to an estimated $75 trillion in 2019.

Growth in wealth in the Asia-Pacific region was driven heavily by the continued economic expansion of its two largest economies China and India, the report said.

Private wealth in China and India also showed solid market gains driven mainly by investments in local equities, it said.

China's equity market rose by 38% and India's by 23%, it added.

 

[Infinity]

Is it a matter of Pride when crores of Indians cannot afford a meal a day.....................This is the result of Crony Capitalism entertained by successive Indian Governments form 1998 till date

 

[indianBong]

yet we are also home to some of the most poor people on this planet........ don't know whether to be proud or to be ashamed.....

 

[Shan-e-ibrahim]

In India the situation is Rich getting Richer and Poor have no stay in the data at all.

 

[Shan-e-ibrahim]

No , in india there are 85% population poor during 1947 and now only 21% people are poor.Some people still want to show poor to receive free rice,subsidized sugar,kerosine,Indira awas houses worth 75000 rupees,free education including dress,book,cycle,5000 on giving birth a child,food for both mother and child for 2 years and electricity for Rs 60 per month etc etc.....So some people in villages whose children or other incoming outside and engaged in private jobs don't at all show there income.

still they are not rich and money cannot be hidden. And those who go for rice and kerosene knows that their condition is not well.

 

[Shan-e-ibrahim]

Below poverty line people can treat them selves in Private expensive hospital free by showing BPL card only.


Rice market price 30 rs per kg dor aBPL family 35 kgs for Rs 35 only per month.
Kerosine market price 45 rupees for BPL family 5 litre s at 10 Rs per lite.In india every son of a father is a family.Then think how much corruption is going on in the name o poor.Yes i believe there are most probably 5 to 10% actual poor who are mostly very old age people wqithout any suppoert and physically handicapped peoples who cannot work.With a huge fund of 135 thousand crore rupees being given to rural areas for guaranteed work jobs by NREGS scheme every year since 2005.
National Rural Employment Guarantee Act 2005 - Wikipedia, the free encyclopedia

It is a failure of a system then

 

[Black Alloy]

There is a massive gap in India between rich and poor, every country has this gap and unless we as citizens of the world do something about it, it will only continue to grow and divide.

 

[Icewolf]

About 80% of India earns less than $2 a day...

15% of the rest of 20% earn less than $5

3% of the rest of 5% live life like the United States.

0.0000001% of that 3% are super rich meaning they earn more than a 100,000 dollars.

 

[Black Alloy]

About 80% of India earns less than $2 a day...

15% of the rest of 20% earn less than $5

3% of the rest of 5% live life like the United States.

0.0000001% of that 3% are super rich meaning they earn more than a 100,000 dollars.

Yes exactly, don't know how someone can live on $2 a day, but India are good at saying stupid things.

 

[SQ8]

Is it a matter of Pride when crores of Indians cannot afford a meal a day.....................This is the result of Crony Capitalism entertained by successive Indian Governments form 1998 till date

Exactly, there is NO pride to have ANYWHERE for any COUNTRY with extreme rich. It is better to have a satisfied middle class majority like sweden or finland rather than extreme rich and poor.

 

[Black Alloy]

Exactly, there is NO pride to have ANYWHERE for any COUNTRY with extreme rich. It is better to have a satisfied middle class majority like sweden or finland rather than extreme rich and poor.

Yep agreed, when 80% of it's population live in poverty and Indians say that $2 a day is enough it makes one embarrassed.

 

[Donatello]

Exactly, there is NO pride to have ANYWHERE for any COUNTRY with extreme rich. It is better to have a satisfied middle class majority like sweden or finland rather than extreme rich and poor.

Let's not forget that Sweden, Finland and by further extension, Norway and Denmark were literally built by the royal families handing out favors to their own kin. Majority of their industrial output was the result of capitalism........however, since the taxes there are really freaking high and the population extremely low, over the past 40 years, the wealth got distributed fairly quickly. You cannot compare countries with populations as low as just 5 million with other nations.
Sweden, Norway, Finland have a combined population of about one Karachi.
They do have their share of family owned multi-millionaire business magnates as well.

 

[Viny]

About 80% of India earns less than $2 a day...

15% of the rest of 20% earn less than $5

3% of the rest of 5% live life like the United States.

0.0000001% of that 3% are super rich meaning they earn more than a 100,000 dollars.

Bhai looks like you are posting Pakistan's stats.

Around 40% people live in URBAN Areas and arround $2 is spent by them in transportation, telecommunication and entertainment per day. And they dont live on plastic money.

 

[nair]

Let us stop bothering about those who are on the topmost step of the ladder..... Let us work on those who is not even capable of climbing a step..........

 

[Black Alloy]

Let us stop bothering about those who are on the topmost step of the ladder..... Let us work on those who is not even capable of climbing a step..........

Well said, need to give the people at the bottom ability to climb higher.