Business world, one of India’s leading Business weekly, has come out with its latest list of India’s moneyed and the well heeled. The special Edition collectors’ issue is pictured here below:
The cover story is a page turner, which comprises not just of the well researched and comprehensive list of the Richie Riches in India, but also the reasons and causes for this ever burgeoning list of the Haves.
Interestingly, one of the primary reasons listed is that India’s super rich are the beneficiaries of a sustained consumption boom fuelled by the middle class, which is driving demand for two-wheelers, cars, white goods, homes, etc; which, in turn, is fuelling growth for commercial real estate, factories and infrastructure such as roads and ports on the one hand and aviation and telecom on the other. Most of this boom is home bread and is because of the internal dynamics if the Indian economy.
http://www.businessworld.in/bw/image/Personalities/Profiles1/top_billionaires_lg.jpg
The Array of India’s super Rich 2010, includes the who’s who from the industry, including Mr. Ratan Tata, Mr. Mukesh Ambani, Mr. Anil Aggarwal, Mr Azim Premji, Mr. Anil Ambani, Mr. Sunil Bharti Mittal, Mrs. Savitri Devi Jindal, Mr. Gautam Adani, Mr. K. P. Singh from DLF, and Mr. Kumar Mangalam Birla among others.
Apart from the fireworks and the chest thumping, there are also a few words of wisdom and caution. The editors emphasized that the Indian economy would add the next trillion dollar to the GDP in the next 5-7 Years, The primary sectors of growth would be Automobile, Steel, Durables and Power. Going forward some of the dampeners identified include, the rising fuel prices, inflation, the Stock Market which is already at 18000 Level, which may pose the biggest challenges for the value creators in future.
All in all, a pleasure to read, and interestingly informative.
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