Forbes-India's 100 Richest

Discussion in 'Economy & Infrastructure' started by LETHALFORCE, Oct 25, 2012.

  1. LETHALFORCE

    LETHALFORCE Moderator Moderator

    Joined:
    Feb 16, 2009
    Messages:
    20,551
    Likes Received:
    6,556
    For the fifth year in a row Mukesh Ambani retains the top spot, with a net worth of $21 billion, despite his fortune being down $1.6 billion. Lakshmi Mittal lost $3.2 billion but holds on at No. 2. The biggest dollar gainer was pharma tycoon Dilip Shanghvi, who broke into the top 5 for the first time with a $2.5 billion jump, as shares of his Sun Pharmaceutical soared. Fellow pharma entrepreneur, Wockhardt’s Habil Khorakiwala, who rejoined the billionaire ranks, was this year’s biggest percentage gainer.

    Gallery : #1 India's Richest India's Richest - Forbes.com
     
  2.  
  3. RedDragon

    RedDragon Regular Member

    Joined:
    Jan 29, 2011
    Messages:
    536
    Likes Received:
    69
    Indian's most rich is richer than China's most rich. And Indian's poor is poorer than China's poor. Then I think Indian's Gini Coefficient should be higher than China.
     
  4. thakur_ritesh

    thakur_ritesh Administrator Administrator

    Joined:
    Feb 19, 2009
    Messages:
    4,434
    Likes Received:
    1,719
    Location:
    Land of the GODS - "Dev Bhomi".
    Not quite.

    What you aren't accounting for is the unaccounted parallel economy which runs on a large scale in India, also the "dead investments" we tend to sit on which keeps getting passed on from generation to generation.

    Officially the remittance to India was around 60b usd last fiscal, unofficially over a 100b usd.

    The estimate of parallel economy runs anywhere from 50% to 300% of the officially projected 2t usd economy, depending on which report you are reading.

    There is a large section of people who earn handsome, but never make it as the tax payers because officially their income never crosses the threshold limit from where on the income starts to get taxed, the rest all ends up as part of parallel economy.
     

Share This Page