MENU × BUSINESS
Banking And InsuranceCryptocurrencyDigital MarketingErpFood And BeveragesHealthcareLegalMarketing And AdvertisingMedia And EntertainmentMetals And MiningOil And GasRetailTelecom
TECHNOLOGY
Artificial IntelligenceBig DataCloudCyber SecurityE CommerceEducationGaming And VfxIT ServiceMobileNetworkingSAPScience And TechnologySecuritySoftwareStorage
PLATFORM
CiscoDatabaseGoogleIBMJuniperM2MMicrosoftOracleOracleRed Hat
LEADERSHIP
CEO ReviewCompany Review
MAGAZINE
ASIA INDIA
STARTUPS CLIENT SPEAK CONTACT US

The Silicon Review Asia

India could get over 44 billionaires in the next few years

India could get over 44 billionaires in the next few years

Riding the wave of economic growth, India could have as many as 44 new billionaires in the next five years. This number has beaten the expectations of experts. In spite of various uncertainties in multiple markets, the country has experienced considerable economic growth. Additionally, the number of ultrahigh net worth individuals (UHNWIs), or people with assets valued at $30 million (210 cores) is also set to increase to over 2600 in the coming years. What’s interesting is that the city with the highest number of new billionaires would be none other than Bangalore, India’s tech capital.

Bangalore is rightly called as India’s Silicon Valley since it is home to over 1000 startups and various technology unicorns (firms valued at $1 billion). Many experts attribute this growth to recent economic policies implemented by the current government of Prime Minister Narendra Modi. Under Modi, India has jumped several places in the global rankings for ease of starting a business. India will be followed by the Philippines and China in the number of billionaires and multi-millionaires. Economies of South Asian countries such as India, Vietnam, Sri Lanka, and the Philippines are touted to grow, whereas that of China is expected to slow down, most likely because of its ongoing trade war and a diplomatic spat with the United States.

While investing in tangible assets have always been popular in India, many businessmen have recently taken to pouring money into bonds and equities. This is a good sign, as it shows that it is easier to do business in India, resulting in greater job creation. 

YOU MAY ALSO LIKE

Marketing Partnership: NBA, McDonald’s Will Jointly open NBA Experience Zones India

There is good news for all basketball fans in India. Very soon, NBA themed promotions and experience zones will be launched in India. The announcement...

Dunzo to Raise Funds from Google, others

Dunzo, the app which is trying to make life easier for the people upto some extent plans to raise about Rs. 183 crore from different investors which a...

Sapta Shakti Command Will Be Displaying Defence Technology Equipment at Jaipur Military Station

This event is organised with an aim to provide an opportunity where one and all can experience the developments in the field of defence and security-r...

Samsung is All Set to Roll out Its Galaxy A9 Smartphone On November 20

After Samsung unveiled its new Galaxy A9 smartphone in Singapore last month, the company is all set to launch it in India on November 20. In Singapore...

RECOMMENDED