India creates one billionaire a month since 2010
You only have to read the press wherever you are in the world to realise that India is booming and has come a long way in a relatively short period of time. This is put into perspective when you realise that the country has created one billionaire a month, on average since 2010. India indeed now has the fourth most billionaires in the world behind the US, China and Germany and 69% of these are self-made billionaires – a very impressive statistics, we are sure you would agree.
The country has dramatically improved much of its infrastructure in recent years, although in their own admission, this is something that needs to be done on a continuous basis. These improvements have aided the country to thrive and India is now fully in the throes of a start-up boom. This covers a number of different industries but notably a significant proportion of this comes from tech start-up businesses, with India now being the third largest globally for tech start-ups with it predicted that there will be 2,100 by 2020.
This is all from a country that had previously been ridiculed for not moving forward in the last fifty years, how times have changed and in fact India is making those people eat their words. Amazingly the country is now hugely competitive across dozens of different sectors making it a real powerhouse on the world stage. This is a country that is really going places and it is not hard to see how far the country has come in recent times and is constantly looking for overseas investment.
For a country, formerly so heavily reliant on fossil fuels it is astonishing to see the huge shift towards renewals sources of energy. The goal of India is to use 60% non-fossil fuels by 2027, exceeding the Paris Climate Agreement targets by 20%. Moves away from fossil fuels can only assist the country to continue to enjoy growth at an incredible rate and it seems perfectly feasible for the country to produce more than one billionaire a month in the not too distant future.
India is a country that is forward thinking and sees overseas help and investment as positive and certainly not something that should be shunned. This can again be illustrated by the fact that Japan’s Softbank and Taiwanese company Foxconn are committed to investing $20 billion dollars in India. This when coupled with the fact that energy giant EDF has also committed to investing $2 billion suggests that overseas companies are also appreciating what India has to offer in terms of its economy.
It seems very hard to imagine where all this will end with so many positives coming out of the country. This is a forward thinking; progressive economy that is creating so many opportunities for itself – just refer back to the number of self-made billionaires if you need any further proof or clarification. How long will it be before other major companies look to move some of their operations to India?
India is country that many others in Asia would be well advised to study and learn from their work ethic and goals. Just opening up to foreign investors and encouraging overseas investment is such a positive move and one that others would be advised to emulate.