Mumbai wealthiest city in India with total wealth of $820 bn; Bengaluru third

September 29, 2016

New Delhi, Sep 29: India's financial capital Mumbai, home to 45,000 millionaires and 28 billionaires, is the wealthiest city in the country with total wealth of USD 820 billion, says a report.

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According to New World Wealth, Mumbai is followed by Delhi and Bengaluru at the second and third place respectively.

While Delhi, home to 22,000 millionaires and 18 billionaires has total wealth of USD 450 billion, Bengaluru boasts of a total wealth of USD 320 billion. The city is home to 7,500 millionaires and 8 billionaires. Total wealth refers to the private wealth held by all individuals.

The report defines 'wealth' as the net assets of a person. It includes all their assets (property, cash, equity, business interests) less any liabilities. The report excludes government funds from its figures.

As per the report, the total wealth held in the country amounts to USD 5.6 trillion (as of June 2016). The country is home to 264,000 millionaires and 95 billionaires in total.

Other emerging cities in the country include, Surat, Ahmadabad, Visakhapatnam, Goa, Chandigarh, Jaipur and Vadodara, the report said.

It noted that over the next decade, India is expected to benefit from strong growth in local financial services, IT, real estate, healthcare and media sectors.

"In particular, the local hospital services and health insurance sectors are expected to grow strongly. Hyderabad, Pune and Bengaluru are expected to lead the pack in terms of wealth growth," it said.

Millionaires or high net worth individuals (HNWIs) refer to individuals with net assets of USD 1 million or more. Billionaires refer to individuals with net assets of USD 1 billion or more.

Other wealthiest cities include, Hyderabad (total wealth of USD 310 billion, has 8,200 millionaires, 7 billionaires); Kolkata (USD 290 billion, has 8,600 millionaires and 10 billionaires); Pune (USD 180 billion, has 3,900 millionaires and 5 billionaires); Chennai (USD 150 billion and has 6,200 millionaires and 4 billionaires) and Gurgaon (USD 110 billion and home to 3,600 millionaires and 2 billionaires).

Comments

abdullah
 - 
Thursday, 29 Sep 2016

What about a common man???
he is struggling for one time food also.
All facilities denied to him. Our country is looted by these rich men.

Rikaz
 - 
Thursday, 29 Sep 2016

These wealth are held with richest people!

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News Network
November 14,2024

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Bengaluru: The Prime Minister Narendra Modi led union government has requested the Karnataka High Court to direct the Mandya district administration and the state government to clear a madrasa operating within the premises of the historic Jama Masjid in Srirangapatna.

The Waqf Board, opposing this move, has claimed the mosque as its property and defended the right to conduct madrasa activities there.

The matter was brought before a division bench headed by Chief Justice N V Anjaria following a public interest litigation filed by a person named Abhishek Gowda from Kabbalu village in Kanakapura taluk. The petition alleged “unauthorised madrasa activities” within the mosque.

Representing the Central government, Additional Solicitor General of India for High Court of Karnataka, K Arvind Kamath argued that the Jama Masjid was designated as a protected monument in 1951, yet unauthorised madrasa operations continue there.

He noted that concerns over potential law and order issues have so far prevented any intervention. Kamath urged the court to direct the Mandya district administration to take action and vacate the madrasa from the mosque.

In defence, lawyers for the state government and the Waqf Board contested this request, stating that the Waqf Board had been recognised as the owner of the property since 1963 and, thus, conducting madrasa activities there is lawful.

After hearing both sides, the bench adjourned the case for further arguments, scheduling the next hearing for November 20.

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November 10,2024

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Mangaluru: A heart-wrenching tragedy unfolded in the quiet Bellayuru village on the outskirts of Mangaluru as a man’s life ended on a railway track following an apparent double murder. Authorities from the Mulki police station identified the man as Karthik Bhat, 32, whose lifeless body was discovered on the tracks with his head positioned on the rail, indicating a tragic suicide.

Nearby, police recovered keys to a scooter and a house, which eventually led them to uncover a series of chilling events. Following the trail, officers located Bhat’s scooter parked near Mahammayi Temple. Inside the vehicle, they found documents confirming his identity, including an RC, insurance papers, and his driving license.

Their search continued to Bhat's home in Pakshikere, Kemral village, where they discovered a locked room. With the keys retrieved from the tracks, police unlocked the door, only to be confronted by a horrifying sight. The bodies of Priyanka (28) and her young son Hriday (4) lay in a pool of blood, pointing to a brutal murder that occurred just hours before Bhat’s suicide.

Initial investigations suggest Bhat, beleaguered by ongoing family disputes, committed the murders of his wife and son on the evening of November 8 before tragically ending his own life. A death note found in his diary hinted at his mental state and tragic intentions.

Priyanka’s family, residing in Shivamogga, was informed of the incident. The couple, married for six years, now leaves behind grieving relatives and unanswered questions. Police have initiated formal proceedings, collecting statements from family members as they continue their investigation into the tragic sequence of events.

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News Network
November 19,2024

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The Karnataka Police’s Anti-Naxal Force (ANF) achieved a major breakthrough on Monday night by eliminating Vikram Gowda, one of Karnataka’s most wanted Naxal leaders for over two decades. The encounter occurred in the dense Kabbinale forest of Udupi district, marking a significant victory against Naxal insurgency in the region.

Who Was Vikram Gowda?

Hailing from Hebri in Udupi, Vikram Gowda, 44, was a prominent figure in the Naxal movement. He went underground in 2002, initially serving as a courier and fund collector before rising to lead a breakaway Naxal group. Despite having only a fourth-grade education, he was a staunch advocate for tribal rights and a key player in the movement’s survival in Karnataka.

Bounty: ₹3 lakh from Karnataka and ₹50,000 from Kerala.

Legacy: The last major Naxal leader in Karnataka after the 2021 arrest of B G Krishnamurthy.

The Encounter

Police revealed that Gowda and his team visited Kabbinale village to collect groceries on Monday night. Acting on a tip-off, ANF ambushed the group. When the Naxals opened fire, ANF responded, leading to Gowda's death.

Escapees: Three Naxals fled, including prominent members Latha (aka Mundgaru Latha) and Raju.

Significance: This was the first Naxal casualty in Karnataka in over two decades.

Home Minister G. Parameshwara confirmed the operation, stating, “Gowda was elusive for 20 years, escaping multiple encounters. His death is a critical step in dismantling Naxal operations in the region.”

The Decline of Naxal Activity in Karnataka

Karnataka's Naxal movement has been dwindling, with members seeking refuge in Kerala and Tamil Nadu. The group’s strength had reduced to just 19 members by 2018, but recent sightings indicate attempts at revival:

2023 Activity: Reports of Gowda-led movements in the Kodagu and Hassan districts reignited concerns.

Political Heat: The BJP criticised the Congress government, alleging it created a “safe haven” for Naxals.

A Glimpse into Gowda’s Past

Personal Life: Gowda’s ex-wife, Savitri (alias Rajita), was arrested in 2021. She was a senior Naxal commander involved in insurgency since 2004.
Rehabilitation Efforts: Since 2013, Karnataka’s rehabilitation policy has seen 14 Naxals surrender and reintegrate into mainstream society.

A Milestone in Karnataka’s Fight Against Insurgency

The operation signifies a decisive blow to Naxal resurgence in the Western Ghats. While the ANF continues its search for escapees, the Karnataka government reaffirmed its commitment to offering rehabilitation to those willing to surrender.

As Karnataka celebrates this triumph, the message is clear: there is no room for insurgency in the state.

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