Forbes published its annual report on the world’s billionaires this month, and as many of you may already know, 4 of the top 20 billionaires hail from India. Yes, Mittal (#3) and the Ambanis (#4 and #5) are on the list, but so is a newcomer – K.P. Singh (#8), a real estate baron. Overall, 70% of newcomers on the list are from India, China, or Russia. Does this indicate rapid wealth accumulation for the relatively few, or a much broader, sweeping trend for the country? You decide.
For the complete Forbes Billionaire list go here.