The rupee has appreciated 12 % This gives them a 12 & fillip in wealth, but see, this is a double edged thing.
Once theyve invested in Multinationals around the world, if the rupee then DEPRECIATES 20 % , then they can sell their cheaper product at international prices and make much more money…I expect this list to get longer in the next five years. More billionaires are being manufactured in India (and china) each year.
India’s 40 richest .
The top 3 in this list alone are said to be richer than china’s 40 richest people combined, but then the usual caveats apply. India has a strong stock market, china doesn’t, China’s dollar reserves are about seven times India’s, China needs and is using more wealth in rmb denomenation, and India is going multinational…china mainly invests in the US, directly.
(wonder what the buckingham palace costs)
Is the video,
Is the natty writeup on Mukesh Ambani’s Billion Dollar home,