Indian billionaires' wealth nearly tripled to $905 billion in 10 years: Report

[hfe_template id='11223'] [ad_1]
India has emerged as a hotspot for wealth creation in the Asia-Pacific region, with the combined net worth of its billionaires nearly tripling to $905.6 billion in 10 years as of 2024. India now ranks third globally in total billionaire wealth, behind the United States and China, a UBS report highlighted.

Rising sharply from $637.1 billion in 2023, this remarkable 42% growth rate in Indian billionaires’ wealth outpaces the global average and reflects India’s rapid economic transformation, propelled by family-led businesses and structural reforms propelled by the country’s government.


Over the last decade, the number of billionaires in India has grown to 185—a 123% increase, throwing light on the flourishing entrepreneurial spirit in sectors like pharmaceuticals, edtech, and fintech, the UBS report noted.

UBS highlights that family-owned enterprises are central to the surging growth rate in Indian billionaires’ wealth. India boasts one of the highest numbers of publicly listed family-owned businesses, with a significant portion contributing to this burgeoning wealth.


“As India breaks into the top league of economies worldwide, it also has among the highest numbers of publicly listed family-owned businesses, many of them spanning several generations,” said UBS.

These family-owned businesses have benefited from strong equity market performance — the NSE Nifty 500 Index more than doubled in USD terms over the last 10 years, mirroring the wealth surge among billionaire families.Also read | Bitcoin, bananas & billionaires: Justin Sun’s $6.2 million art buy shows crypto’s bold new eraAs India continues to urbanize and digitize, UBS anticipates the trend of growing wealth among Indian billionaires to persist. The rising manufacturing capacity and preparations for a green energy transition are likely to foster further wealth accumulation in India, potentially positioning the country’s billionaires to follow the trajectory set by their Chinese counterparts before 2020.

“It may well be that India’s billionaire entrepreneurs multiply over the next 10 years just as China’s did in the years until 2020,” said UBS.

Also read | Jane Street’s Rs 4.3 crore job offer to IIT student sheds light on options trading inequities

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

[ad_2] Source link https://mrgaga.in/indian-billionaires-wealth-nearly-tripled-to-905-billion-in-10-years-report/?feed_id=45044&_unique_id=675409cb75979

Comments

Post a Comment

Popular posts from this blog

India VIX jumps 100% in one month. Could fear levels take Nifty further down?

Image
[hfe_template id='11223'] [ad_1] Volatility in Indian equity markets has surged sharply over the past month, with the India VIX nearly doubling as geopolitical tensions and global uncertainty triggered aggressive selling in equities. India VIX, often referred to as the market’s fear gauge, has jumped close to 100% over the past month, reflecting growing nervousness among investors. The spike has coincided with a sharp correction in the broader market, with the Nifty 50 declining about 8% during the same period. The escalation of tensions involving the United States, Israel and Iran has intensified market anxiety in recent days, pushing crude oil prices sharply higher and triggering a global risk-off sentiment. However, analysts note that volatility had already been building even before the conflict escalated, reflecting broader concerns around global growth, foreign capital outflows and stretched valuations in equities. The heightened uncertainty translated into a sharp ...
Read more

Can Sensex, Nifty snap 2-day fall on Monday? 7 factors that could decide market mood this week

Image
[hfe_template id='11223'] [ad_1] Benchmark indices Sensex and Nifty ended the week on a bearish note, closing over a percent lower each as a deepening selloff in IT stocks rattled investor sentiment amid mounting fears of AI-led disruption. Further, stronger-than-expected jobs data for January dampened hopes of a US Fed interest rate cut. Here are 7 factors that could decide market action in the coming week: 1.) Infosys, Wipro ADRs rebound - After a brutal two-day selloff that saw Infosys and Wipro ADRs plunge as much as 14.5%, Friday’s session brought a much-needed breather. Bargain hunting kicked in at lower levels, sparking a sharp rebound as Infosys climbed 3% while Wipro gained 4%—helping both stocks close the week on a far stronger note. International brokerage firm JP Morgan has a message for panic-stricken investors: IT services firms are the indispensable "plumbers of the tech world" and their dividend yields have now hit levels last seen only during ...
Read more

Waaree Energies shares in focus after Q4 profit rises 34% to Rs 619 crore, revenue up 36%

Image
[hfe_template id='11223'] [ad_1] Waaree Energies shares will be in focus on Wednesday after the solar panel maker reported a strong Q4 performance, with net profit rising 34.1% year-on-year (YoY) to Rs 618.9 crore for the quarter ended March 31, 2025. In the same quarter last year, the company had reported a profit of Rs 461.5 crore. Revenue from operations jumped 36.4% to Rs 4,003.9 crore, up from Rs 2,935.8 crore in the year-ago period, according to the company’s regulatory filing. EBITDA more than doubled to Rs 922.6 crore in Q4 FY25, up 120.6% from Rs 418.3 crore in the same quarter last year. The EBITDA margin improved to 23% from 14.3% a year ago. The company produced 2.06 GW of solar modules in the fourth quarter, up from 1.35 GW in the same period last year. For the full year, module production reached 7.13 GW, compared to 4.77 GW in FY24. For the full financial year FY25, revenue rose 27.62% YoY to Rs 14,846.06 crore. Profit after tax more than doubled to Rs 1,9...
Read more