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
April 16,2020

Bengaluru, Apr 16: In order to bring uniform act for all universities in the state under the Karnataka University Act 2017, the state government formed a committee in this connection.

As per the instruction of deputy chief minister Dr C N Ashwath Narayan, higher education department has issued an order to form a committee under the chairmanship of R Vasudeva Athre.

The other members are former Bengaluru university Vice-Chancellor Prof B Thimmegoda, IIT Bengaluru director Prof Sadagopan, Srusti institute of arts and design technology Geetha Narayan Srusti, centre of educational and social studies president Dr M K Sridhat and state higher education parishad Executive Director Dr M S Kori, co-member of the committee.

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News Network
April 9,2020

Kasaragod, April 9: After Supreme Court intervened and settled the Border issue with Karnataka authorities who had consented to allow the critically-ill patients from in and around Kasaragod and nearby areas to cross over to nearby Mangalore for getting urgent and critical care treatment, the Karnataka authorities is alleged to continue to be hostile either by blocking way ahead or turning a deaf ear to the patients reaching there.

It was on Wednesday onwards that the check post at Thalapadi near here on the Kozhikode-Mangalore National Highway was opened for the critically-ill patients to cross over to Mangalore hospitals for medical treatment.

However, reports reaching here said two out of the three critically-ill patients, who made it to Mangalore were allegedly ill-treated or given no treatment forcing them to return back to Kerala.

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News Network
January 30,2020

Bengaluru, Jan 30: The BJP government of Karnataka has given green signal to the proposal of hiking milk prices by Rs 2 per litre.

The new prices will come into effect from February 1. Seeking revision of prices, the Karnataka Milk Federation (KMF) had submitted a proposal last week to the state government. Alongside the revision of milk prices, the state government has also hiked the prices of curd by Rs 2 per liter.

The sudden hike in the prices of milk, curd is likely to have a cascading effect on the milk related beverages such as coffee, tea, and milkshakes with hoteliers and eateries mulling to increase the prices of coffee and tea following the hike in prices.

Sources in the state government revealed to DH that out of Rs 2, farmers will be getting a lion’s share as their accounts will be credited with Rs 1. Another 40 paise will be given to the farmers towards the insurances of their livestock.

Another 40 paise will go to the milk salesmen in the form of commission. The remaining 20 paise will be distributed among the workforce at the milk cooperative unions as an additional incentive.

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