16:24 - 9.12.2024

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December 9, Fineko/abc.az. The total wealth of billionaires in India has tripled in the last 10 years, ABC.AZ informs, referring to Switzerland's largest financial holding company UBS Group. Thus, the total wealth of Indian billionaires has grown over 10 years and by April of this year reached $905.6 billion.

According to UBS Group, the number of such persons in the republic has more than doubled over the year and reached 300.

Currently, there are 108 officially registered family business enterprises in the country with capital of over $1 billion.

India is the third country in the world by this indicator.

Family-owned enterprises play an important role in India's economic growth. The growth in the number of Indian billionaires has been driven by factors such as urbanization, growth of industrial production capacity and India's transition to green energy. On the other hand, the industries that bring millions of dollars of wealth to Indians are energy, pharmaceuticals and the real estate market.