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 10,2024

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Mangaluru: A tragic accident took place on Saturday at Chembugudde near Thokkottu, claiming the life of a 47-year-old woman after a tanker lorry ran over her. The victim, identified as Rahmat H Rashid, was riding pillion with her husband, Abdul Rashid G, on their scooter. 

The couple was traveling from Yenepoya Hospital to Bajpe when the scooter skidded on the poorly maintained road. Rahmat fell onto the road and was fatally struck by a tanker lorry that was coming from behind. Despite being rushed to the hospital, doctors declared her dead upon arrival.

The incident prompted a swift response from the DYFI Ullal Taluk Committee, which staged a protest on Saturday night, condemning the unsafe condition of the road. Nithin Kuthar, president of the committee, criticized MLA and Legislative Assembly Speaker UT Khader for failing to ensure safe infrastructure, despite touting the road as toll-free. 

Kuthar demanded immediate repairs, warning that the committee would march to the MLA’s office with black flags if the road is not fixed within a week.

Former DYFI State President Sunil Kumar Bajal also voiced frustration over the deteriorating condition of Thokkottu market, highlighting the struggles people face while crossing roads riddled with dangerous potholes. In response to public outcry, temporary repairs were made to the road at Chembugudde on Sunday, though locals remain wary and demand a more permanent solution. 

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November 11,2024

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Udupi, Nov 11: The Karkala town police in Udupi have arrested Krishna Naik, the sculptor responsible for installing a 33-foot Parashurama statue at Umikkal Hill in Bailur, Karkala taluk. 

Naik, the owner of Krish Art World and a resident of Bengaluru's Visvesvaraya Layout, was apprehended in Mahe, part of the Union Territory of Puducherry, for allegedly substituting a look-alike statue in place of a genuine bronze figure at the Parashurama Theme Park in Karkala.

Udupi Superintendent of Police Dr. Arun K confirmed the arrest, stating that Naik faces charges under Sections 420 (cheating) and 409 (criminal breach of trust) of the Indian Penal Code. 

This legal action followed a complaint lodged in June by Krishna Shetty, a resident of Nallur village, Karkala. Shetty claimed that Naik had received a payment of ₹1,25,50,000 from Udupi Nirmithi Kendra for the installation of a bronze Parashurama statue. However, Naik allegedly deceived the government by installing a replica instead.

The statue was unveiled on January 27, 2023, by then Chief Minister Basavaraj Bommai. Current Chief Minister Siddaramaiah has since ordered a CID investigation to probe deeper into the alleged fraud surrounding the statue's installation at the theme park.

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News Network
November 22,2024

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Bengaluru, Nov 22: For the second day running, the Karnataka BJP on Friday staged a statewide protest condemning the government’s alleged move to notify land of farmers as Waqf property.

The BJP staged a protest before the offices of Deputy Commissioners at district headquarters.

The BJP leaders are vehemently demanding that the state government cancel a 1974 Gazette notification in this regard.

The agitators are also demanding scrapping of the Waqf Board and the resignation of Chief Minister Siddaramaiah and Minister for Waqf and Housing Zameer Ahmad Khan.

The BJP MLAs, MLCs, MPs gathered in the premises of Freedom Park and staged a protest under the leadership of Leader of Opposition R. Ashoka and slammed the state government.

MLA T.S. Srivatsa led the protest in Mysuru and hundreds of party workers and farmers staged the protest under the leadership of former MP Pratap Simha in Kodagu.

Former MP Sumalatha Ambareesh led the agitation in Mandya.

This was the first time that Sumalatha took part in the party’s programme after the Lok Sabha elections.

State President B.Y. Vijayendra claimed, “The Congress government in Karnataka is issuing notices to farmers claiming the ownership of their lands to the Waqf Board and pushing them on the streets overnight.”

In the first week of December, three teams formed by the BJP will travel across the state and record the grievances of farmers.

“The state government is attempting to snatch away the lands belonging to temples as well,” Vijayendra alleged and added that the teams would comprise all senior leaders of the BJP.

Meanwhile, the police have taken Sri Ram Sena chief Pramod Muthalik into custody while staging a protest march to the office of Zameer Ahmad Khan in Bengaluru.

Muthalik along with Hindutva activists was planning to lay siege to Zameer’s office over the Waqf row.

The police stopped Muthalik and requested him to submit the memorandum by reaching the minister’s office in a vehicle. However, Muthalik refused to go with the police and continued his footmarch. The police took him into custody following arguments.

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