In 2021, the majority of Indian adults accounted for wealth of 10,000 U.S. dollars or lesser. On the other hand, about 0.1 percent were worth more than one million dollars that year.
India
The Republic of India is one of the world’s largest and most economically powerful states. India gained independence from Great Britain on August 15, 1947, after having been under their power for 200 years. With a population of about 1.4 billion people, it was the second most populous country in the world. Of that 1.4 billion, about 28.5 million lived in New Delhi, the capital. Additionally, the population density of India has been steadily increasing since 2007, meaning that the country was becoming more crowded. India is broken up into 28 states and eight union territories.
Indian Economy
India suffered from extreme income inequality. It was estimated that 77 percent of the total national wealth is held by the top ten percent of the population. The richest person in India was businessman and engineer Mukesh Ambani, with a net worth of about 6.5 trillion Indian rupees. Despite suffering from large income inequality, India had a comparatively low unemployment rate before the coronavirus (COVID-19) pandemic . The Indian economy was categorized as a developing market economy, and the main industries in India included textiles, chemicals, and food processing. The country's long-term economic growth was a result of its young population, low dependency ratio, and savings.
