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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coastaldigest.com news network
June 6,2020

Mangaluru, June 6: As many as 24 coronavirus positive cases reported in Dakshina Kannada in 24 hours (from 5 p.m. June 5 to 5 p.m. June 6). 

With this the total number of covid-19 cases mounted to 167, among which 88 are currently active. 

Among the newly detected 24 cases 11 are Maharashtra returnees, 6 are Dubai returnees, 1 is Arabia returnee, 1 is Ukraine/Turkey returnee. And source of 5 new cases still remained untraced.
 

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News Network
February 28,2020

Kozhikode, Feb 28: Nearly 200 Umrah pilgrims from Kerala were deboarded from their flights to Saudi Arabia from Calicut international Airport here on Thursday after the gulf nation enforced a temporary ban on foreigners seeking to visit the holy cities of Makkah and Madina, following coronavirus scare.

Saudi Arabia halted travel to the holiest sites in Islam over fears about a viral epidemic just months ahead of the annual hajj pilgrimage, a move that came as the Mideast has over 240 confirmed cases of the new coronavirus.

According to Airports Authority of India officials, as many as 84 of passengers from the Saudi Airlines and 104 from the Spice Jet Airlines were denied permission to board the flights and travel to Saudi Arabia.

However, other passengers bound to Jeddah were permitted to fly, they said.

A private tour operator here said two batches of 40 pilgrims each were denied permission to travel to Makkah to perform Umrah on February 27.

Umrah is an Islamic pilgrimage that can be performed at any time of year.

"The pilgrims were denied entry by the two airlines, Spice Jet scheduled at 05.30 hrs and Saudi Airlines at 1130 hrs," Naiful Akbar, a travel agent said.

The Airport Authority of India sources said, "the passengers were asked to alight by the Spice Jet airline staff following an instruction received by them."

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News Network
July 26,2020

Bengaluru, Jul 26: Today, one of the Co-founders of Infosys, SD Shibulal announced that over the last three days (22nd - 24th July) his family members have sold a portion of (representing approximately 0.20 per cent of the paid-up equity share capital) their holding in Infosys Ltd on the stock exchanges.

Proceeds from the partial stake monetization will be utilized for a combination of philanthropic and investment activities.

The sale was executed by Citigroup Global Markets India Private Limited as the Sole Broker.

The Founders, have served Infosys in various capacities, since its inception in 1981 until October 2014. Over the three decades, the Founders have nurtured the company transforming it into one of the professionally run companies in India with a global presence.

This press release is for information purposes only and is not an offer to sell, or a solicitation of an offer to buy, any of the shares described herein. The shares have not been and will not be registered under the US Securities Act of 1933, as amended (the "US Securities Act"), or in any state or other jurisdiction of the United States.

Securities may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the US Securities Act. 

There has not been and there will not be any public offering of the shares in the United States.

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