Rich Indians: Your dream of becoming a millionaire will also be fulfilled, 68,000 people will become millionaires in the country every day, read how
indian billionaires - Everyone dreams of becoming a millionaire, but only a few are able to do so. You will be happy to know that the number of billionaires in India is increasing rapidly; According to the data of a report, 68,000 people will become rich every day in India in the coming time. Because Indian people are increasingly buying foreign investments
The Kalamkar News, Ankit - The number of billionaires and rich people in India is increasing rapidly and is expected to increase further. Foreign brokerage firm Goldman Sachs claims that India is likely to have 100 million rich people in the next four years.
Foreign investment in India is growing rapidly as the country, which is currently the world's fifth largest economy, is set to become the world's third largest economy by 2027, according to the International Monetary Fund. According to this report, there has been an unprecedented increase in the purchasing power of people in India.
According to a report, the purchasing power of top-income Indians has increased in the last decade due to strong economic growth, strong monetary policy and high interest rates. There are now 60 million Indians earning more than $10,000 (₹8.28 lakh) every year, up from 24 million in 2015.
Wealth of Indians increased rapidly in 3 years
Citing a report, Bloomberg said that the spending power of middle class families is increasing in India. Branded companies making jewellery, household goods and health care products are benefiting from this.
Moreover, there has been a tremendous increase in property values in India in the last three years, leading to an increase in wealth.
In particular, gold and property are seen as important stores of wealth in India. At the same time, the report said that in the last five years, the number of people investing in equity by buying mutual funds or shares has also increased.
Goldman Sachs said that there is a difference in the spending capacity of people of higher income and middle income groups in India. More than 96 crore debit cards have been issued in the country and 9.30 crore people have postpaid cell phone connections. But only 3 crore Indians can buy a car, reports suggest.