Mukesh Ambani increased his wealth by Rs 300 crore daily last year: Barclays Hurun report

Mumbai, Sep 26: At a time when policymakers are grappling on how to reduce inequalities, a wealth report on Tuesday said there has been a 34 per cent increase in the number of Indians having a networth of Rs 1,000 crore or more.

India's richest person Mukesh Ambani increased his wealth by Rs 300 crore per day over the past one year.

Led by Reliance Industries chairman Mukesh Ambani with a net worth of Rs 3.71 trillion, there were 831 Indians having a networth of Rs 1,000 crore or more in 2018, which is 214 individuals more than the 2017 list, according to a Barclays- Hurun India rich list.

A January 2018 report presented by Oxfam at the World Economic Forum had expressed concern on the rising inequalities, stating that 1 per cent of the country's population holds 73 per cent of the wealth.

The financial capital, which presents stark contrasts like housing the largest slums in the continent as also costliest mansions like Ambani's Antilla, has the highest number of contribution to the rich list, with 233 richie rich, followed by 163 in the national Capital and 70 in Bengaluru.

Anas Rahman Junaid, managing director and chief researcher at Hurun India says the country is the fastest growing when it comes to people entering the rich list.

From a demographic perspective, the average age in the list is 60, the 24-year-old Ritesh Agarwal of Oravel Stays which runs Oyo Rooms, being the youngest and 95-year-old Dharam Pal Gulati of the masala brand MDH being the eldest.

There was a massive, 157 per cent spike in the number of women in the list, which grew to 136.

Nine individuals in the list saw a doubling of wealth in 2018, with Krishna Kumar Bangur of Graphite India being the biggest gainer with a 430 per cent jump in his peronsal fortunes.

According to the report, India is going through one of the most interesting periods in wealth creation. Despite rupee depreciation and rising crude oil prices, wealth creation rate in India is at an all-time high.

PTI