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.

mumbvaiAccording 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
May 8,2020

New Delhi, May 8: After deadly styrene gas leak in Visakhapatnam, Union Chemicals and Fertilisers Minister D V Sadananda Gowda urged all public and private chemical makers to exercise caution and care while reopening their plants.

Union Environment Ministry and State Pollution Control Boards have also issued separate directives to all companies to take extreme precaution while restarting their units that remained suspended due to the lockdown imposed to contain the spread of COVID-19 in the country, he said.

There was a gas leak from LG Polymers plant at Visakhapatnam in the early hours on Thursday, causing 10 deaths and hundreds of people getting hospitalised.

"LG Polymers does not come under direct control of our ministry. However, we have asked all public and private chemicals manufacturers to exercise caution and care while reopening their plants," Gowda told PTI.

The minister said his officers are coordinating with the Andhra Pradesh government.

He further said LG Polymers, a multinational chemical company, had kept its unit ready for reopening after one and half month of lockdown. The unit started leaking at around 3.40 am on Thursday due to pressure.

"The toxic gas leak has affected both people and animals. Around 850 people have been hospitalised," Gowda said, adding that measures have been taken to control the situation at the plant site and final updates are awaited.

At present, Indian chemicals market size is about USD 163 billion, which is only three per cent of the global chemical industry of USD 5 trillion, as per the official data.

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News Network
February 18,2020

Bengaluru, Feb 18: Deputy chief minister Laxman Savadi was elected to the legislative council on Monday and although it was a done deal that he would win, a vote from across the aisle spiced up the election.

Counting was conducted soon after ballots were cast and Savadi polled 113 of the 120 votes cast, including the vote of disgruntled JD(S) legislator GT Devegowda. Seven votes were declared invalid. Members of the two opposition parties — Congress and JD(S) — abstained from voting.

The election was necessitated following the resignation of Rizwan Arshad of the Congress. Rizwan resigned after he was elected to the legislative assembly from the Shivajinagar constituency in the assembly bypolls held for 15 seats in December last year.

BR Anil Kumar, who was initially promised the support of both Congress and JD(S) was supposed to contest as an independent candidate. However, as both parties refused to support him at the last minute, he withdrew, paving the way for Savadi’s victory.

The BJP has 117 members in the 225-member assembly, but N Mahesh of the BSP and two independents, H Nagesh and Sharath Bachchegowda, besides GT Devegowda also voted, taking the total electorate to 120 (including the speaker). BJP’s SA Ramadas did not turn up because of health reasons.

“I would like to thank all those who were responsible for my victory. Special thanks to leaders of my party and chief minister BS Yediyurappa, who gave me the opportunity to be the BJP candidate,” said Savadi.

Winning this council election was crucial for Savadi to retain his ministry as he was not an elected member of either of the houses. Rules mandate that a non-member must get elected either to the assembly or council within six months after taking over as minister. February 20 was the deadline for Savadi, who had lost 2018 assembly polls from Athani, to get elected.

Officials in the assembly secretariat said seven votes were invalid because voters had wrongly marked their choices on ballot paper. According to norms, a voter has to mark numerical one, two and three against the names of the candidates in order of preference. Marking only numerical one is allowed. However, six ballots had a tick mark, while a voter had registered a cross mark. Since it was a secret ballot, it was not known who the MLAs were whose votes were invalid.

“The ballot papers bear serial numbers and they are randomly distributed. It is virtually impossible to say who a voter cast his or her vote for,” said assembly secretary MK Vishalakashi, the retuning officer for the bypoll.

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February 7,2020

Mysuru, Feb 7: Former chief minister and Janata Dal (Secular) leader HD Kumaraswamy on Thursday said that Chief Minister BS Yediyurappa-led government is not stable and it can fall at any moment.

"Karnataka Government is not a stable one. With the developments taking place, it can fall at any moment," Kumaraswamy told reporters when asked to comment on the Karnataka Cabinet expansion.

Earlier in the day, 10 MLAs including Ramesh Jarkiholi, Anand Singh, K Sudhakar and BA Basavaraja took oath as Cabinet Ministers at Raj Bhawan in Bengaluru.

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