Crawling economic growth has flattened the wealth of the billion-dollar club
A group of top industrialists, bankers and economists were recently summoned to New Delhi by Prime Minister Narendra Modi to brainstorm on boosting India’s economic momentum. Since sweeping to power 16 months ago on a wave of euphoria, Modi has lately faced a reality check. While the economy is expected to grow by 7 percent this year, the stock market is off 5 percent from a year ago and the rupee has fallen 9 percent. These declining barometers flattened the fortunes of India’s 100 richest, whose combined wealth is nearly unchanged at $345 billion from a year ago.
(This story appears in the 29 October, 2015 issue of Forbes India. To visit our Archives, click here.)