The Forbes Magazine stated that Mukesh Ambani, Chairman of Reliance Industries has regained his position as the richest person of Asia, deposing Jack Ma, the Chinese business tycoon who was considered as the richest person in the region a year ago.
Statistics of The Forbes’ 35th Annual List of Billionaires
Amazon CEO, Jeff Bezos is at the top of Forbes’ 35th list. In the second position is Elon Musk, the SpaceX founder. On the global billionaire’s list, Mukesh Ambani is ranked in the 10th position. Forbes said, “Ambani has become the richest person in Asia, ranked Number 10 and worth an estimated USD 84.5 billion. He nudges out Jack Ma of China, Asia’s richest person a year ago, whose rank dropped to 26 despite a nearly USD 10 billion jump in his fortune to USD 48.4 billion”. Gautam Adani, Chairman of the Adani Group is ranked 24th on the list. Cyrus Poonawalla, Chairman of the Poonawalla group is in the seventh position on the list.
India’s Maximum People Below Poverty Line
India, till now, is the country with the largest number of people living below the poverty line. The situation becomes even more worse in the rural areas. The giant companies are troubled due to a fall in rural demand which has led to a slump in the sales and profits of the companies. Due to a lack of inclusive economic growth, the poverty line is increasing at a rapid rate. Unemployment is also a cause of increasing poverty.
TPT Policy Advocacy & Recommendations
- India needs to take huge strides to alleviate poverty. The Government must introduce some effective plans so that unemployment gets reduced and the economy also gets revived. The companies will also not be troubled further by the fall in rural demand.
- The businessman’s of India needs to make much more elaborate business plans to be more successful. And the goal must be to establish a strong market position.