India to See Surge in Billionaire Entrepreneurs Over Next Decade: Report
Summary:
India is set to witness a significant increase in billionaire entrepreneurs over the next decade, driven by urbanization, manufacturing, and energy transition. A UBS report highlights that billionaire numbers have more than doubled, with collective wealth tripling over the past 10 years to $905.6 billion. The stock market has also grown significantly, reflecting the success of billionaire-led businesses across various sectors. India ranks third globally in publicly listed family-owned businesses, which play a critical role in its economic transformation. Emerging industries like edtech, fintech, and food delivery are fueling this growth.
New Delhi: India is poised for a significant rise in billionaire entrepreneurs over the next 10 years, according to a UBS report. The country is expected to follow a growth trajectory similar to China’s until 2020, driven by factors such as rapid urbanization, enhanced manufacturing capabilities, and the ongoing energy transition.
The report highlights that, over the decade leading up to April 2024, the number of Indian billionaires has more than doubled, surging by 185%. Their collective wealth has tripled, marking a 263% increase to $905.6 billion.
Additionally, the stock market has mirrored this wealth growth. The NSE Nifty 500 Index has risen by 109% in terms of US dollars over the past decade. This aligns with the expansion of billionaire-led businesses across diverse sectors.
India ranks third globally in publicly listed family-owned businesses, with 108 such companies identified in the report. These enterprises have significantly contributed to the country’s economic transformation, often thriving across multiple generations. The report emphasizes the pivotal role of these family-run businesses in driving economic growth.
From traditional family conglomerates to innovative ventures in pharmaceuticals, EdTech, fintech, and food delivery, Indian entrepreneurs have effectively leveraged opportunities in the evolving economy.
As the Indian economy continues its robust growth, the report predicts an even greater surge in billionaire entrepreneurs in the years ahead.