The proliferation of billionaires in India, instead of being seen as a sign of success, serves as a painful reminder of the inequality and disparity that plagues the Indian society
In the face of the widening wealth gap, the increased number of Indian billionaires suggests that as more resources and wealth are concentrated in the hands of a few, it is harder for ordinary people to share the dividends of economic development.
Among the established players, Mukesh Ambani of India stands out with a wealth of $115 billion, despite dropping one spot. Ambani's wealth has surged by 40%.
At a time when India is dreaming of becoming a developed country and is having high ambitions as it approaches 100 years of independence when 2047 arrives, a new study has revealed that the divide between the rich and poor is worse now, when compared to the British rule era.