Move over singers, sportsmen, and even the A-list actors of bollywood; we’ve got new idols this season: the entrepreneurs. A very special brand of them: not the bootstrapped or small businessmen, but the Unicorns with.
India’s unequal Covid pandemic – Luxury SUVs for the rich, lost homes for the poor: Bloomberg June 14, 2021, 10:28 AM IST in Foreign Media, Economy, India, World, TOI
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By Andy Mukherjee
Mercedes-Benz AG recently introduced its Maybach sport utility vehicle in India right in the middle of a fierce second wave of the pandemic. The 50 cars the German automaker wanted to sell by the end of 2021 were lapped up in a month. It turns out that just as the rich were scrambling to own these $400,000 wheels, annual per capita income was sliding below $2,000, with the country falling behind neighboring Bangladesh.
Emerging economies have historically tolerated higher inequality, hoping to hit the inflection point in the Kuznets curve, beyond which incomes keep rising but disparities fall. Whatever the merits of the controversial hypothesis, the gap opened up by Covid-19 is no price of progres
Working capital finance is an important aspect in any venture, more so for the fledgling MSME businesses. As the Indian economy is largely MSME driven with this sector contributing upwards of 30% to the economy.
India’s middle class is under enormous stress. A recent report by Pew Research Centre said 2020’s first Covid wave saw India’s middle class shrink from 99 million to 66 million. Obviously, the second wave, which.
Creation of long-term sustainable wealth is easy and is within everyone’s grasp June 4, 2021, 12:19 AM IST
Manish Goel, founder-director, Research & Ranking
Despite the humongous challenges posed by the COVID-19 pandemic, India added several new billionaires and millionaires in the year 2020. According to the Hurun Global Rich List 2021, India ranked 3 rd highest in number of billionaires globally, with a combined wealth of $596 billion in 2020 and there were 412,000 dollar-millionaire households in the country with a net worth of not less than Rs. 7 crores. Many of those who made it to the billionaire and millionaire clubs are self-made and first-generation entrepreneurs.
One of the biggest reasons the wealthy are getting wealthier is because they don’t invest in traditional investments. They invest in businesses, because that is the fastest way to multiply wealth. To create sustainable wealth, it is not necessary to start a new bus