Behind the rise of India’s billionaires

by Dave

Based on its population, that India has the more billionaires than Japan should not a surprise. By furthering economic freedom, it needs to have the most billionaires per capita!
In the title bout of 21st century business – India versus China – China is way ahead on points. With vastly higher exports, energy production, foreign investment and infrastructure spending, it has a weight advantage India cannot hope to match. But India has one thing in its favour: the genius of its business leaders. Smart, ambitious, forward-looking, eager to learn, they are India’s potential knockout punch.

Forbes reported recently that, for the first time, India has more billionaires than Japan, the usual Asian leader in the magazine’s annual list. India has 53, up from 34 the year before. Four Indian billionaires are on the Top 10 list of the world’s richest people, more than any other country can claim.

That’s an extraordinary fact all on its own. India was an economic washout just a generation ago, its industries and businesses stifled by decades of government overregulation.

What’s most impressive about India’s new tycoons isn’t their sudden wealth, though. It’s the way they are taking their companies, and in the process their country, forward. The companies they are building are not just big, bold and brawny in the Chinese model, but smart, nimble and surprisingly modern.