India's entrepreneurship and wealth creation story is a testament to the nation's resolve, adaptability, and unwavering commitment to progress. As we look to the future, the path to success may continue to evolve, but India's entrepreneurs remain at its forefront, creating not only private wealth but also a brighter future for the nation and its people.
Against a backdrop of global economic turbulence, India's private wealth surged by a remarkable $675 billion in 2022, reaching a staggering $15.4 trillion. India's economic ascent is underpinned by impressive statistics. Between 2000 and 2022, the number of millionaires in India grew annually at a staggering rate of 15 per cent, and this trend is expected to persist, with an anticipated 11 per cent growth between 2022 and 2027. Today, India proudly counts 849,000 dollar millionaires among its ranks, representing over one per cent of the world's total. For the first time since 2008, during times of unprecedented turmoil, total net private wealth increased in the country. This resilience underscores the nation's ability to weather global storms and its capacity for growth. India boasts an impressive 5,480 ultra-high-net-worth individuals (UHNWs) with net worth exceeding $100 million.
India has undergone a remarkable cultural shift when it comes to the perception of wealth and entrepreneurship. In the past, wealth was often regarded with suspicion, and discussions about money were viewed as taboo. Pursuing wealth was sometimes seen as a negative endeavour, associated with greed or selfishness. However, today's India reflects a significant trans formation in societal attitudes.
Denne historien er fra September 23, 2023-utgaven av BW Businessworld.
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Denne historien er fra September 23, 2023-utgaven av BW Businessworld.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
A WAVE OF PARIVARTAN
KAIZAD M. BHARUCHA on HDFC Bank's flagship CSR programme Parivartan ('Change' in Hindi), and how it has made a profound impact on the lives of over 10 crore people, embodying progress and positive transformation
An Ace In All Regards
The Sonos Ace offers an interesting proposition by clubbing peak design, respectable ANC and a decent battery life
For the love of Street Food
Feel like eating something different? How about a Slow-Cooked Grilled Belgium Pork Leg? The dish is inspired by the festive streets of Italy, Germany, and Austria, where pork takes centre stage during the winter. Cooked to perfection over 24 hours, it pairs tender pork with a sweet and spicy apple purée, salsa macha, and crunchy pork floss.
India's Most Influential Marketing Leaders
The BW Top 100 Marketers 2024 sees significant representation from sectors such as FMCG, BFSI, auto and tech as the likes of healthcare register growth; women leaders account for over 27 per cent of the list
HERALDING THE ERA OF PRIVATE
Broadcom CEO & President Hock Tan asserts that the future of enterprise IT lies in private cloud solutions
Sustainable M&A Through Double Materiality
IN THE HIGH-STAKES WORLD of mergers and acquisitions (M&A), the focus has long been on traditional synergy metrics.
Lenovo's Puducherry Tryst...Now With An AI Twist
Lenovo's APAC and India leadership, including AMAR BABU, President, Lenovo APAC, AMIT LUTHRA, Managing Director, Lenovo ISG India and SUMIR BHATIA, President, Lenovo ISG Group - APAC, spoke with BW Businessworld's Rohit Chintapali on the company's new manufacturing capabilities based out of Puducherry facility that will now involve AI servers and high-end GPU units.Excerpts
40 Under 40 - Making A Mark
Hive Minds partners with clients across various sectors to deliver strategies focused on growth, creativity and client satisfaction
40 Under 40 - Leading The Charge
Visaka's Vamsi Krishna Gaddam advocates for ecoconscious business practices, driving innovations in building materials, electric mobility, solar energy and more
40 Under 40 - Judicial Efficiency
Adalat AI leverages tech to minimise case backlogs and enhance judicial efficiency, with ambitious plans for expansion across additional courts in India
