The (Potential) Rise of India, powered by the super-rich

By December 26, 2018 No Comments
“India’s new billionaires have accumulated more money, more quickly, than plutocrats in almost any country in history.” – James Crabtree

Between 2004 and 2014, India enjoyed the fastest expansion in its history, averaging growth of more than 8% a year. The Bollygarchs, as the 119 billionaires are called, have a collective worth amounting to $440 billion.

Is India’s rise a threat or an opportunity? Will their staggering growth propel them to surpass the US and China economies to become the true Slumdog Billionaire?


James Crabtree is a former Mumbai bureau chief of the Financial Times. He is currently Associate Professor in Practice at the Lee Kuan Yew School of Public Policy. In 2018, he published his book, The Billionaire Raj: A Journey Through India’s New Gilded Age.

Kanti Bajpai is Director and Wilmar Professor of Asian Studies at the LKY School, and is currently working on a book on India-China relations. Prior to that, he was Professor in the Politics and International Relations of South Asia at the University of Oxford. Kanti writes a regular column for the Times of India.

Radhika Rao is Vice-President & Economist at DBS Bank

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