The Indian economy grew by 7.5% in 2023, adding 94 people to its list of 271 billionaires, with Mukesh Ambani topping the list of billionaires in Asia.
For the first time in the economic history of Asia, the financial capital of India, Mumbai, has topped the list of ultra-wealthy people in Asia. Mumbai was reported to be the fastest-growing billionaire capital in the world. The city alone added 27 billionaires last year and became Asia’s billionaire capital, surpassing Beijing, the capital of China, which added just 6 people. Also, as a country, India outstrips China as our economy added 94 new billionaires, compared to just 55 in China.
From a global perspective, the Maharashtra capital ranked third in the world. Interestingly, even the capital city of India, New Delhi, broke into the top 10 Hurun Global Rich/Billionaires List for the first time. The Shanghai-based Hurun Research Institute disclosed these facts in its thirteenth edition of the Global Rich List’s wealth ranking report, which it calculates considering the US dollar.
The Indian economy grew by 7.5% in 2023, adding 94 people to its list of 271 billionaires, with Mukesh Ambani topping the list of billionaires in Asia. Next to follow is Gautam Adani. Some of the new faces in Mumbai’s billionaires club are Ina Ashwin Dani of paint manufacturer Asian Paints, Rohiqa Cyrus Mistry of Sterling Investments (Tata Group), Renuka Jagtiani, chairwoman of Landmark Group, Garment exporter KP Ramasamy, founder and chairman of KPR Mill, etc. Out of the 94 new entrants in the Indian billionaires list for 2023, most people thrived from dominant Indian industries, including pharmaceuticals (39 billionaires), automobile and auto components (27), and chemicals (24).
As a rich continent, the Asian region has outnumbered the rest of the world with over 950 billionaires in its kitty, with China and India possessing the most of them. Although in terms of the total number of billionaires, Beijing and the rest of China still hold the record for the maximum number of billionaires (814), followed by the USA with 800 billionaires. India jumped to the third position, surpassing Germany, with 271 billionaires.
China experienced a decline in its billionaire population, whereas India experienced an unprecedented billionaire boom last year!
