Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 150
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Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 151
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 97
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

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        LATEST NEWS UPDATES | Disparity among Indian rich higher than elsewhere-Anshul Dhamija    </title>
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-The Times of India



BANGALORE: India has one of the worst records in the trickle-down of wealth. As of last year, for every one billionaire in India, there were just 26 ultra high net-worth individuals (UHNIs)-those whose net assets are over..."/>
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-The Times of India



BANGALORE: India has one of the worst records in the trickle-down of wealth. As of last year, for every one billionaire in India, there were just 26 ultra high net-worth individuals (UHNIs)-those whose net assets are over..." />
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                            <div align="justify">-The Times of India</div><p align="justify"><br /><em>BANGALORE: </em>India has one of the worst records in the trickle-down of wealth. As of last year, for every one billionaire in India, there were just 26 ultra high net-worth individuals (UHNIs)-those whose net assets are over $30 million excluding their primary residence.</p><p align="justify">In Japan, for every billionaire there were 609 UHNIs. In Brazil and South Africa, which are comparable emerging markets, the ratio was 1:129 and 1:119 respectively. Globally, for every one billionaire, there are 100 UHNIs.</p><p align="justify">This data from 'The Wealth Report of 2014' by global real estate consultants Knight Frank shows that wealth in India is getting concentrated among a handful of the country's richest.</p><p align="justify">&quot;Wealth is getting skewed towards billionaires who in turn aren't able to give birth to more millionaires. This clearly indicates that while economic growth has been there, from an equity standpoint, the disparity is increasing,&quot; said Samantak Das, chief economist and director of research and advisory services, Knight Frank India.</p><p align="justify">China and Malaysia are the two other countries comparable to India where the ratio of billionaires to millionaires is 1:44 and 1:37 respectively.</p><p align="justify">The report estimates that in the past decade (2003 to 2013), the number billionaires in India grew from 23 to 60-a growth of 161%-and the number of UHNIs grew from 598 to 1,576, a growth of 164%. Mumbai accounts for close to 37% of this wealth, while Delhi accounts for 9%.</p><p align="justify">The growth of this Richie Rich club is attributed to the economic growth of over 8% that India witnessed through much of the past decade. &quot;Even though 2008-2009 was a bad phase, it didn't really erode much of their wealth,&quot; said Das.</p><p align="justify">Knight Frank estimates that the billionaire-to-UHNI ratio will further skew to 1:22 over the next decade as the wealth of Indian billionaires will increase significantly.</p><p align="justify">By 2023, India will have the fourth largest concentration of billionaires in the world, says the study, behind the United States, China, and Russia. Last year, the country had the sixth largest pool of billionaires.</p><p align="justify">On the other hand, in 2023, India would rank 19th in the world on the UHNI count, the same rank as it held last year.</p><p align="justify">Due to the 'base effect', Knight Frank projects that over the next decade, the growth of billionaires and millionaires in the country will taper to around 98% and 99% respectively. The growth rates, though, will be way higher than the global average of 38% for billionaires and 28% for millionaires. </p>                                                           
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    <br><a href="http://timesofindia.indiatimes.com/business/india-business/Disparity-among-Indian-rich-higher-than-elsewhere/articleshow/32873390.cms" class="re" target="_blank">The Times of India, 29 March, 2014, http://timesofindia.indiatimes.com/business/india-business/Disparity-among-Indian-rich-higher-than-elsewhere/articleshow/32873390.cms</a><div class="clear"></div>
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    <h1 class="cat-box-title">Disparity among Indian rich higher than elsewhere-Anshul Dhamija</h1>
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                            <div align="justify">-The Times of India</div><p align="justify"><br /><em>BANGALORE: </em>India has one of the worst records in the trickle-down of wealth. As of last year, for every one billionaire in India, there were just 26 ultra high net-worth individuals (UHNIs)-those whose net assets are over $30 million excluding their primary residence.</p><p align="justify">In Japan, for every billionaire there were 609 UHNIs. In Brazil and South Africa, which are comparable emerging markets, the ratio was 1:129 and 1:119 respectively. Globally, for every one billionaire, there are 100 UHNIs.</p><p align="justify">This data from 'The Wealth Report of 2014' by global real estate consultants Knight Frank shows that wealth in India is getting concentrated among a handful of the country's richest.</p><p align="justify">&quot;Wealth is getting skewed towards billionaires who in turn aren't able to give birth to more millionaires. This clearly indicates that while economic growth has been there, from an equity standpoint, the disparity is increasing,&quot; said Samantak Das, chief economist and director of research and advisory services, Knight Frank India.</p><p align="justify">China and Malaysia are the two other countries comparable to India where the ratio of billionaires to millionaires is 1:44 and 1:37 respectively.</p><p align="justify">The report estimates that in the past decade (2003 to 2013), the number billionaires in India grew from 23 to 60-a growth of 161%-and the number of UHNIs grew from 598 to 1,576, a growth of 164%. Mumbai accounts for close to 37% of this wealth, while Delhi accounts for 9%.</p><p align="justify">The growth of this Richie Rich club is attributed to the economic growth of over 8% that India witnessed through much of the past decade. &quot;Even though 2008-2009 was a bad phase, it didn't really erode much of their wealth,&quot; said Das.</p><p align="justify">Knight Frank estimates that the billionaire-to-UHNI ratio will further skew to 1:22 over the next decade as the wealth of Indian billionaires will increase significantly.</p><p align="justify">By 2023, India will have the fourth largest concentration of billionaires in the world, says the study, behind the United States, China, and Russia. Last year, the country had the sixth largest pool of billionaires.</p><p align="justify">On the other hand, in 2023, India would rank 19th in the world on the UHNI count, the same rank as it held last year.</p><p align="justify">Due to the 'base effect', Knight Frank projects that over the next decade, the growth of billionaires and millionaires in the country will taper to around 98% and 99% respectively. The growth rates, though, will be way higher than the global average of 38% for billionaires and 28% for millionaires. </p>                                                           
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    <br><a href="http://timesofindia.indiatimes.com/business/india-business/Disparity-among-Indian-rich-higher-than-elsewhere/articleshow/32873390.cms" class="re" target="_blank">The Times of India, 29 March, 2014, http://timesofindia.indiatimes.com/business/india-business/Disparity-among-Indian-rich-higher-than-elsewhere/articleshow/32873390.cms</a><div class="clear"></div>
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        LATEST NEWS UPDATES | Disparity among Indian rich higher than elsewhere-Anshul Dhamija    </title>
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-The Times of India



BANGALORE: India has one of the worst records in the trickle-down of wealth. As of last year, for every one billionaire in India, there were just 26 ultra high net-worth individuals (UHNIs)-those whose net assets are over..."/>
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    <h1 class="cat-box-title">Disparity among Indian rich higher than elsewhere-Anshul Dhamija</h1>
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                            <div align="justify">-The Times of India</div><p align="justify"><br /><em>BANGALORE: </em>India has one of the worst records in the trickle-down of wealth. As of last year, for every one billionaire in India, there were just 26 ultra high net-worth individuals (UHNIs)-those whose net assets are over $30 million excluding their primary residence.</p><p align="justify">In Japan, for every billionaire there were 609 UHNIs. In Brazil and South Africa, which are comparable emerging markets, the ratio was 1:129 and 1:119 respectively. Globally, for every one billionaire, there are 100 UHNIs.</p><p align="justify">This data from 'The Wealth Report of 2014' by global real estate consultants Knight Frank shows that wealth in India is getting concentrated among a handful of the country's richest.</p><p align="justify">&quot;Wealth is getting skewed towards billionaires who in turn aren't able to give birth to more millionaires. This clearly indicates that while economic growth has been there, from an equity standpoint, the disparity is increasing,&quot; said Samantak Das, chief economist and director of research and advisory services, Knight Frank India.</p><p align="justify">China and Malaysia are the two other countries comparable to India where the ratio of billionaires to millionaires is 1:44 and 1:37 respectively.</p><p align="justify">The report estimates that in the past decade (2003 to 2013), the number billionaires in India grew from 23 to 60-a growth of 161%-and the number of UHNIs grew from 598 to 1,576, a growth of 164%. Mumbai accounts for close to 37% of this wealth, while Delhi accounts for 9%.</p><p align="justify">The growth of this Richie Rich club is attributed to the economic growth of over 8% that India witnessed through much of the past decade. &quot;Even though 2008-2009 was a bad phase, it didn't really erode much of their wealth,&quot; said Das.</p><p align="justify">Knight Frank estimates that the billionaire-to-UHNI ratio will further skew to 1:22 over the next decade as the wealth of Indian billionaires will increase significantly.</p><p align="justify">By 2023, India will have the fourth largest concentration of billionaires in the world, says the study, behind the United States, China, and Russia. Last year, the country had the sixth largest pool of billionaires.</p><p align="justify">On the other hand, in 2023, India would rank 19th in the world on the UHNI count, the same rank as it held last year.</p><p align="justify">Due to the 'base effect', Knight Frank projects that over the next decade, the growth of billionaires and millionaires in the country will taper to around 98% and 99% respectively. The growth rates, though, will be way higher than the global average of 38% for billionaires and 28% for millionaires. </p>                                                           
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    <br><a href="http://timesofindia.indiatimes.com/business/india-business/Disparity-among-Indian-rich-higher-than-elsewhere/articleshow/32873390.cms" class="re" target="_blank">The Times of India, 29 March, 2014, http://timesofindia.indiatimes.com/business/india-business/Disparity-among-Indian-rich-higher-than-elsewhere/articleshow/32873390.cms</a><div class="clear"></div>
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Home हिन्दी

Disparity among Indian rich higher than elsewhere-Anshul Dhamija

Published on Mar 29, 2014   Modified on Mar 29, 2014

-The Times of India BANGALORE: India has one of the worst records in the trickle-down of wealth. As of last year, for every one billionaire in India, there were just 26 ultra high net-worth individuals (UHNIs)-those whose net assets are over $30 million excluding their primary residence. In Japan, for every billionaire there were 609 UHNIs. In Brazil and South Africa, which are comparable emerging markets, the ratio was 1:129 and 1:119 respectively. Globally, for every one billionaire, there are 100 UHNIs. This data from 'The Wealth Report of 2014' by global real estate consultants Knight Frank shows that wealth in India is getting concentrated among a handful of the country's richest. "Wealth is getting skewed towards billionaires who in turn aren't able to give birth to more millionaires. This clearly indicates that while economic growth has been there, from an equity standpoint, the disparity is increasing," said Samantak Das, chief economist and director of research and advisory services, Knight Frank India. China and Malaysia are the two other countries comparable to India where the ratio of billionaires to millionaires is 1:44 and 1:37 respectively. The report estimates that in the past decade (2003 to 2013), the number billionaires in India grew from 23 to 60-a growth of 161%-and the number of UHNIs grew from 598 to 1,576, a growth of 164%. Mumbai accounts for close to 37% of this wealth, while Delhi accounts for 9%. The growth of this Richie Rich club is attributed to the economic growth of over 8% that India witnessed through much of the past decade. "Even though 2008-2009 was a bad phase, it didn't really erode much of their wealth," said Das. Knight Frank estimates that the billionaire-to-UHNI ratio will further skew to 1:22 over the next decade as the wealth of Indian billionaires will increase significantly. By 2023, India will have the fourth largest concentration of billionaires in the world, says the study, behind the United States, China, and Russia. Last year, the country had the sixth largest pool of billionaires. On the other hand, in 2023, India would rank 19th in the world on the UHNI count, the same rank as it held last year. Due to the 'base effect', Knight Frank projects that over the next decade, the growth of billionaires and millionaires in the country will taper to around 98% and 99% respectively. The growth rates, though, will be way higher than the global average of 38% for billionaires and 28% for millionaires.

The Times of India, 29 March, 2014, http://timesofindia.indiatimes.com/business/india-business/Disparity-among-Indian-rich-higher-than-elsewhere/articleshow/32873390.cms

Tagged with: Inequality Income Inequality Economic Growth

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