By MIR GAZANFAR ALI ZAKI, JEDDAH

India booming

India's Mukesh Ambani and Lakshmi Mittal figured among world's Top 10 billionaires as Mexican tycoon Carlo Slim Helu beat America's Bill Gates and Warren Buffett to become the wealthiest person on earth.

Besides Reliance Industries Chairman Ambani (ranked fourth) and steel czar Mittal (placed fifth), four other Indians are among top 50 in 2010 Forbes List of the World's Billionaires released on Wednesday. As many as 49 Indians have joined company with the planet's 1,011 richest people.

All this should make Indians happy and proud. India has the largest number of billionaires in Asia replacing Japan as the Asian country with the most billionaires. Eleven countries have at least double the number of billionaires they had a year ago, including China, India, Turkey and South Korea. The fact that Indians have made it shows that India is a growing power. This growth shows the positive aspect of liberalization and globalization.

According to Forbes Magazine, the combined wealth of Indian billionaires is equal to one-fourth of India's GNP. The day may not be far off when an Indian will become the richest person in the world. This year's list shows that, when conditions in the financial markets and the economy are right, India has the scale and resources to produce billionaires faster than most countries.

 

Comments

SARDAR ISHAQ HAFEEZ

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Indian will be proud and happy when all the citizen with have education, primary health care and employment. Indian will be proud when the police and judiciary will punished the guilty not the victims. Indian will be proud when their land will not snatch by declaring it SEZ. Indian will be proud if their poor people have their say, tribals are not exploited/abuse by the security forces and other official in the name of maoists. Indian will be proud when all our elected representative have clean image and no criminal records. Indian will be proud when they get quick justice in their disputes without waiting by generation for the result.

How the Indian proud for a few millionaires in the Forbes list when a majority of Indian didn't know that is Forbes. In short Indian is proud for development in major Cities not in country side, where the people still waiting for a pucca road, health center and education for their children. A best example is Bundelkhand in Madhya Pradesh. Intention in writing this is not to critize the letter writer but to put our views from the fact and from our heart.

ISRARUL HAQUE

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The combined wealth of India's billionaire is equal to one fourth of India's GNP clearly reflects the misdistribution wealth. The concentration of wealth is the root of many evils..If few have become billionaire millions are still living below $ a day. India is not a growing power it is still growing poverty.
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