Evolution of wealth-creation in India: IIFL Wealth Hurun Rich List

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IIFL Wealth Hurun Rich List India 2021 is released. A look over India’s wealth graph in the last decade.

With INR 7,18,000 CR, Mukesh Ambani retains the richest man in India for the 10th year running. For the first time both the Adani, brothers came in the top 10.

Evolution of wealth creation in India over a decade

  •  In 2012, to enter the top 10 one needed to have a wealth of INR 30,000 crores. 10 years later it is 1,20,000 crores. 
  • In 2012, to enter the top 50 one needed to have 5,900 crores. Now it is almost 30,000 crores.
  • To get into the top hundred, it was 1800 crores in 2012. Now it is 16,008 million crores.
  • In 2012, there was not even a top 500 list to consider. Now to enter the IFL top 500 list in India, one has to have a wealth of 2000 crores. 
  • In 2012, the list could feature only 59 known billionaires. Now the list has 237 known billionaires. India will have about 500 billionaires by 2026.
  • In 2012, only 10 Indian cities were featured in the list. Now the number is 76.
  • In 2012, only 5 women were there on the rich list. Now there are 47 known women on the list. 200 plus women might be featured in the coming years.

State in 2021: In 2021, more sectors contributed to the wealth of the nation. Wealth was mostly been created from sectors like pharmaceuticals, chemicals, and software services. India became the global pharma hub. India supplying medicines and vaccines to the world was evident during the COVID-19 pandemic. Chemicals also had a very good year. Around 80,000 various derivatives of chemicals are used for the manufacturing of different items. The shift of the supply chain from China to India also helped. 

GDP: In 2012, India’s GDP was 1.8 trillion US dollars. Now it has jumped to 3.05 trillion dollars. India is in the fastest wealth creation era. IIFL Wealth Hurun India Rich Listers added INR 2020 crores per day during the last decade. IIFL assumes India to achieve a GDP of 5 trillion dollars by 2026.

Wealth creation is no more concentrated in major cities. Though Mumbai tops the list, it ranges from Haridwar to Thiruvananthapuram. If more smart city projects are undertaken by the government, then about 100 cities will be included in the next 5 years.

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