Mumbai (Maharashtra): Mumbai, which is considered the financial capital of India, has once again been recognised as the 'city of billionaires'. Mumbai has surpassed China's capital Beijing as the number one billionaire city in Asia.
Reacting to this it, economists have said that this is a positive development and that this has been possible due to India's economic policies. In the number of billionaires in Asia, Mumbai has also surpassed Beijing.
Mumbai, which is Maharashtra's capital, has the highest number of billionaires in Asia, according to Hurun 2024 report. Mumbai has now reached the third position in the list of billionaires worldwide.
New York in United States of America (USA) tops the list with 119 billionaires. London in United Kingdom is second with 97 billionaires. Mumbai is at the third position with 92 billionaires. Beijing now has 91 billionaires. After seven years, Mumbai has topped Asia's list of billionaires.
According to the list released by Hurun 2024, Mumbai has added 26 new billionaires to the list in a year. The report revealed that the total wealth of all billionaires in Mumbai is 445 billion dollars, which has increased by 47 per cent compared to last year.
In comparison, the wealth of billionaires in Beijing is 265 billion dollars. Beijing's billionaire population has fallen by 28 per cent.
Economist Prakash Pathak said that the increase in the profit of builders is also a reason for this. "Although the increased number of billionaires in Mumbai seems appropriate, the additional burden on Mumbai cannot be tolerated anymore. Therefore, this increase may invite a natural calamity," Pathak said.
Economist Ravindra Vaidya said, "Mumbai's number in the list of billionaires is natural and welcome step. The economic policies adopted by the Centre and Maharashtra governments are showing results. This is possible due to the support and encouragement given to doing businesses and the confidence given to entrepreneurs in India to take risks and also due to 'Make in India' policy, flexibility in export policy and amendments to the Liquidation Act," added Vaidya.
According to Vaidya, industry-friendly government policies have been implemented by the Centre. "The government has been supporting the industry in economic liberalisation," quipped Vaidya.
The list of billionaires includes Mukesh Ambani, Gautam Adani, HCL'S Shiv Nadar, Cyrus Poonawalla of Serum Institute, Dilip Shanghvi, Kumar Mangalam Birla, Radhakishan Damani.
