Archive for August 15th, 2007

India next hot spot for Billionaires after America

Posted by abyjain on August 15, 2007

We’ve all read about how the wealthiest in India are setting higher and higher standards everyday. To put it in perspective, as per this report as well in the economic times, there are 36 billionaires in India as per Forbes, and India has the second highest number of billionaires in the world after the United States. The feat is brilliant, considering how huge an economy Japan is. Some doomsayers will say that this exactly is the irony and pain of India, that the rich are super rich… and even a mammoth economy like Japan is better spread, but I’m not one of those. I try to look at the positive side of the story. India has 3 members in the 20 richest in the world as well. Higher than any other country except the US once again. Wow! At least we could call India the land of opportunity now. The big thing about Americans, if you notice in the smallest nuances of their dialogues etc. is that they think everything is so great and so exceptional about their country. Most other citizens are so busy criticizing what is wrong in our systems.

Through all this, one thing that does make me sad is the slow demise of the Birla clan (relatively speaking). I studied in Birla institutes for my schooling as well as my Engineering, and it always made me sad, even in my childhood, as I saw other groups grow and become bigger than the Birlas. The article above in the ET also states that when Forbes actually started the rankings, the Birla’s were the only one on the list with a net worth of almost$2 billion (imagine that in 1987) … but I have to say they did precious little in the wonder years that India has seen since then. What were they thinking? Perhaps that all the hue and cry was for nothing, and that India would continue the way it had in the last 40 years before then?

The thing that confuses me a little – As far as I remember, Slim should be on top of the list!

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