India’s richest widening inequality gap

Inequality has risen sharply during Prime Minister Narendra Modi’s decade in power, with the “Billionaire Raj” now owning 40% of India’s wealth — the highest share since the 1920s

INDIA’S WEALTH GAP
Population: Poorest Middle Richest
50%  40%   10%

Income
15% 27.3% 57.7%
Of which top 1% earn:   22.6%

Wealth
6.4% 29% 64.6%
Of which top 1% own: 39.5%

BILLIONAIRE RAJ
Mukesh Ambani (Reliance Industries) Richest man in Asia, with estimated wealth of $115 billion. India now has 271 billionaires

SHARE OF WEALTH 1961-2023

Richest 1% 1961: 12.9%
Poorest 50% 1961: 11.4%
Richest 1% 2023: 39.5%
Poorest 50% 2023: 6.5%

30%
20%
10%

 0 1970 1980 1990 2000 2010 2020


Source: World Inequality Database Picture: Getty Images © GRAPHIC NEWS