Rural India Adding Super Rich Faster Than Urban, Study Shows
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India will see a five-fold increase in its ‘super rich’ families by the turn of the decade and a large chunk of the growth will come from rural areas — home to the nation’s poorest, according to a study.
The number of super rich households, those earning more than 20 million rupees ($243,230) a year, almost doubled to 1.8 million in five years to 2021, showed a report released Wednesday by People’s Research on India’s Consumer Economy and India’s Citizen Environment, or PRICE. The growth of such households in villages was 14.2% compared to 10.6% in cities.