Survival of the Richest: The India Story

Oxfam India’s “Survival of the Richest: The India Supplement" reveals some stark findings proving that the gap between the rich and the poor is indeed widening. The report also highlights how progressive tax measures can help combat inequality in India.

“Survival of the Richest” is published on the opening day of the 2023 World Economic Forum in Davos, Switzerland. Elites are gathering in the Swiss ski resort as extreme wealth and extreme poverty have increased simultaneously for the first time around the world in 25 years.

Some of the key findings from the India supplement are:-

The top 1 percent in India now owns more than 40.5 percent of total wealth in 2021 while the bottom 50% of the population (700 million) has around 3 per cent of total wealth.

Since the pandemic begun to Nov 2022, billionaires in India have seen their wealth surge by 121%, or INR 3608 Crore per day in real terms (Around INR 2.5 crore every minute).

The rich have done well for themselves, while the number of hungry Indians has increased from 19 crores to 35 crores.

Read the English press release here.

Read the Hindi press release here.

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