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Forbes ranking of the richest people in India in 2018

According to 2018 Forbes data, the richest man in India is business magnate Mukesh Ambani with a net worth of about 47.3 billion U.S. dollars.

Wealth distribution in India

India’s wealth is very unevenly distributed, with the wealthiest one percent of inhabitants owning more than half of the wealth. Currently, the majority of Indians own less than 10,000 U.S. dollars in wealth and assets and over 80 percent of Indian households have an average monthly income of 20,000 Indian rupees (about 286 U.S. dollars) or less – and even less in rural areas. Poverty is among the most common worries of Indian people and a prevalent problem in the country, despite a growing economy.

India’s growing economy benefits many, but not all

Most Indians live in rural areas, where agriculture is still the main provider. In fact, agriculture was an important economic driver for a long time, until services gained traction (and now generates almost half of India’s GDP). Mukesh Ambani, India’s richest entrepreneur, is one of the beneficiaries of this development, since his company, Reliance Industries, owns businesses mostly in the services sector.

Forbes ranking of the richest people in India in 2018

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Source

Release date

January 2019

Region

India

Survey time period

2018

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