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

[email protected] (Agencies)
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
January 16,2020

Bengaluru, Jan 16: Former chief minister Siddaramaiah and other leaders are likely to make the final decision on the name of the next Congress president of Karnataka soon, said party leader Dinesh Gundu Rao on Thursday.

"He (Siddaramaiah) has met all the leaders and I think soon they will make a decision. It has already been delayed, it should not have been delayed so much. I am sure high command will take a decision on this," Rao told reporters here.

Both Siddaramaiah and Gundu Rao had resigned from their posts, Leader of Congress Legislature Party and KPCC president, after the party's drubbing in the bye-elections held for 15 Assembly seats last year.

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News Network
March 1,2020

Mangaluru, Mar 1: Karnataka Minister for Major and Medium Industries Jagadish Shettar said that the flight service between Mangaluru and Hubballi will begin on March 29 under UDAN scheme.

Speaking to reporters on the sideline of the meeting of Industries Commerce of Magaluru, here on Saturday evening, he said while the city of Ports is the second busiest international airport after Bengaluru in Karnataka, other places, namely Hubballi, Belagavi, Kalaburagi and Bidar, have come on the air map with the UDAN scheme.

Stating that UDAN launched by Prime Minister Narendra Modi was what the Golden Quadrilateral highway project of former Prime Minister A B Vajpayee had envisaged, Mr. Shettar noted that more flights are operating to and from Mangaluru now. This has paved the way for Industrialisation of the important city on the Bombay-Karnataka region, he added.

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News Network
May 29,2020

Thiruvananthapuram, May 29: Chief Minister Pinarayi Vijayan said that fishing in Kerala coast and southeast Arabian Sea has been completely banned from Thursday midnight as the state is expected to receive rainfall early next month.

"India Meteorological Department (IMD) has informed that southwest monsoon will arrive in Kerala coast by the first week of June. The state will receive rainfall in the next five days. Fishing in Kerala coast and the southeast Arabian sea to be completely banned from midnight," Vijayan said.

On Thursday, the IMD announced that conditions are favourable in Kerala for the onset of the southwest monsoon on June 1.

"A low-pressure area is likely to form over the southeast and adjoining east-central Arabian Sea from May 31 to June 4, 2020. In view of this, conditions are very likely to become favourable from June 1, 2020 for the onset of southwest monsoon over Kerala," the IMD said in its bulletin.

It also stated that the southwest monsoon has further advanced into some parts of Maldives-Comorin area, some more parts of south Bay of Bengal, remaining parts of Andaman Sea and Andaman and the Nicobar Islands. 

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