India, the world’s second-most populous country, added at least one billionaire a week in 2020, a year that saw COVID-19 breakout, lockdowns, and a sudden spurt in mass digital adoption.
According to the Hurun Global and India Rich List 2021, India, home to the third-largest base of billionaires in the world after China and the US, saw 55 new billionaires last year, which took the number of ultra-rich up to 177. When Indian-origin, overseas billionaires are tallied in, the total count stands at 207.
“Indian wealth creation is dominated by traditional industries compared to tech-driven wealth creation in the USA and China,” said Anas Rahman Junaid, MD and chief researcher, Hurun India in a statement. “When tech-driven wealth creation reaches full potential, India could potentially beat the USA in terms of the number of billionaires.”
Tech-driven wealth creation primarily implies the wealth generated by traditional information technology companies as well as new-age tech startups.
With USD 83 billion, Mukesh Ambani, chairman and managing director of Reliance Industries, India’s biggest company by market capitalization, is the wealthiest person in India, second richest in Asia, and eighth richest in the world.
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