Someone explain this to me - How are European countries double the wealth of India, while focusing on work life balance, taking 2-3 months summer vacations too

Dont reproduce like rabbits and you are golden.

Consultant

Just read, criteria is > $30M ( ~ 250 crores INR)

Product Manager

At least half are miserable. Welcome to the game.

Software Engineer

It’s interesting to learn about wealth centres of the world. Scale of US is gigantic even for China. However, it looks 13k may not be a real number for India or maybe they took the $ value in consi...

It’s interesting to learn about wealth centres of the world. Scale of US is gigantic even for China. However, it looks 13k may not be a real number for India or maybe they took the $ value in consideration.

Ultra Wealthy density

Ultra Wealthy density- Grapevine

Welcome to News Discussion's Private Community

Non taxpayers can also comment how to avoid paying taxes

Any Crorepati taxpayers in the house?

Business Analyst

Welcome to Personal Finance's Private Community

The last I saw, to be in top 1% individual in terms of wealth, you needed to have assets worth $77k. This is from news article of 2020. Sharing link here - 
https://timesofindia.indiatimes.com/business/india-business/this-is-what-it-takes-to-be-in-the-1-around-the-world/articleshow/74057315.cms

Now, based on new data, you need to have assets of around $175k. Approx 150% rise in 3 yrs! Link for the same -
https://www.moneycontrol.com/news/business/real-estate/indias-ultra-wealthy-population-to-surge-58-4-in-next-five-years-knight-frank-10605531.html


Is anyone here in top 1%?

What it takes to be in Top 1% of India

What percentage of Grapevine lies in the top 1%

India's wealth inequality is at a six-decade high with the top 1% owning 40.1% of wealth. Foreign investments led to a surge in billionaires post-1992. PM Modi's tenure saw a widening rich-poor gap amid rapid economic growth.

India's richest 1% has highest concentration of wealth in decades, study shows

Wealth inequality in India at it's highest. 1% of people control 40% of the wealth 🤔

Investment Associate

The present-day golden era of Indian billionaires has produced soaring income inequality in India—now among the highest in the world and starker than in the U.S., Brazil, and South Africa. 

The gap between India’s rich and poor is now so wide that by some measures, the distribution of income in India was more equitable under British colonial rule than it is now.

Since the pandemic begun to Nov 2022, billionaires in India have seen their wealth surge by 121%, or INR 3608 Crore per day in real terms (Around INR 2.5 crore every minute).

Billionaire Raj: India's richest 1% holds 40% of the country's wealth

Spread of Billionaires in India. It is truly cool how far ahead Mumbai is. And how near Ahmedabad is to Bangalore.

Software Developer

Welcome to Software Engineers's Private Community

Hi everyone,
Can anyone tell like what is the equivalent of US packages in india considering the impact of purchase power parity, tax, things required for living, etc factors.
Thanks.

For an example- 
In India, what can be the equivalent of 1 crore (120355 USD) US package?

US-India package equivalence

This should help everyone understand the true picture of income brackets Indians fall in, where do viners belong?

Earnings bracket wise

What are our options if congress for some reason comes to power ?.

I have heard stories how the land was taken away from people and given to someone because they politically close to them during Indira Gandhi time . Any ideas how we can protect myself from this crap of policy that congress is planning ?

What are the options ? Wealth distribution scheme

Principal Engineer

Like even frauds but rich that can buy 100000 worth phones easily. Can buy luxury car if they want etc.

Is there any data present in how much filthy rich people are there?

Software Analyst

What opinion will you defend like this?

Sales Leader

Investor

Recently I came across a report in ToI that said earning 80 K per month puts you at top 4% in India. Assuming that the stats is true, do you feel contended with what you earn?

Being in top 5% or 10%, I feel blessed.

Solution Architect

Fact !

Don't worry, none of us belong to the so called Wealthy class. It's about 0.001 percent. May be 50 individuals max in a poor country like India.  
  
"The biggest inequalities in life occur at birth. Some are born abysmally poor, some rich beyond imagination. This has nothing to do with their hard work & has no moral justification. This is the reason why an inheritance tax to curb inequality is a must in any civilized society."

Super super super rich

..unless either of the two mess up insanely bad

We'll probably get to the #3 spot if things go well. But it seems impossible that we'll ever go beyond that.

Internal reasons that are very hard to fix:-

(1) Our population TFR fell below standard replacement rate in 2023. This means we will not be able to follow the same economic growth trajectory required to reach developed status before population stagnation or declination. This is not a death knell but definitely very VERY bad news.

(2) Our blue-collar workforce skill levels are not only subpar but are slowly falling behind the world standards every year. Much of our youth aim to join government orgs like the Army or the Railways which train for the job later, not before. Despite a national shortage of skilled plumbers, electricians etc, our vocational training orgs have been unsuccessful in attracting people towards these careers as well as churning out skilled workers.

(3) Our bureaucratic environment is extremely slow with pathetic turnaround times on initiatives. This is not government specific and has always been the case so it seems like this will always be. This is not even a problem unique to India as many other countries have been facing this too but it is still a factor that negatively impacts our growth massively.

I wish it was just internal reasons but a large part of it also comes down to both China and US being aggressively great at ensuring their successes:-

(1) Chinese manufacturing seems nearly impossible to overcome - not just for India but also for the US. Yes, we might win over some industries and companies like the US, Vietnam, Thailand etc. have been doing but the amount of autocratic control in China allows them to crush competition easily. Case in point - the recent tussle between India and China on solar manufacturing which China won by autocratically lowering their prices.

(2) If de-dollarisation succeeds, it will benefit China the most because (contd. in comments)

Controversial: India will never overtake China or US

Let's do our part, instead FOMO, have an abundance mindset,keep building and shipping.

Ultra Wealthy density

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