Indian’s creating the wealth the fastest in the World!
Yes, it’s true if we go by the recent report by IIFL Wealth Hurun India Rich List. One of the key findings was that in 2012, the major entrepreneurs came from the top 10 cities, this has now become 76.
There are lot of reasons for this change however the recent Bull Run in the stock market and the rising unicorn club are some of the major reasons for this wealth creation. Another key finding was that in 2012 when we did the first IIFL Wealth Hurun India Rich List was made there were absolutely no entrants for the software product sector. However in the following 10 years there are about 73 founders or co-founders who are building amazing software, tech product companies based in India.
“So wealth creation is going across sectors, cities and more young wealth creators are coming on board” as per AnasRahmanJunaid, Founder & MD, Hurun India. Also another fact is that the size of the list was just 100 in 2012, now the list has gone on to include 1,007 individuals and while the number of billionaires in India have grown from 54, to about 237 today. The growth is phenomenal and the trend is going to stay this way and only grow exponentially if the markets are to be believed.
Also not to forget the success the entrepreneurs have seen is only because of the modernisation of the Indian economy and the role that the government has played in terms of start-up India, stand up India scheme, the PLI scheme, the lowering of corporate tax rates etc. Therefore the environment is fully supportive and conducive for the growth.
Well hopefully we all can also soon join the Hurun list, here’s hoping to that dream and signing off. All the best!
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