Demonetization and GST not impacted wealth creation, says Hurun Report

The list relates to Indians only, defined as born or brought up in India.

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NEW DELHI: Latest Hurun Report says that Demonetization, GST implementation and so on have not impacted wealth creation in organized sector.

“In fact, going by the trend in the list, these factors seem to have positively impacted the mega rich and their companies. Despite a solid performance of the corporates, a declining trend in GDP growth points to impact of such schemes on the unorganized sectors”, Anas Rahman Junaid, MD and Chief Researcher, Hurun Report India said.

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Divyank Turakia, founder of media.net, youngest billionaire, along with Anas Rahman Junaid of Hurun Report India unveiled the 6th edition of Hurun India Rich List 2017 at Art Lounge, The World Towers by Lodha Group, Mumbai today.

The list, which has become a benchmark become widely accepted to be the robust attempt at covering entrepreneurship in India.

Wealth calculations are a snapshot of net worth of living individuals as of 31st July, 2017 when the rate of exchange to the US dollar was Rs. 64.1

On average, the wealth of Hurun India Rich Listers have increased by 11% compared to that of last year. At least, 16 people saw their wealth double year on year. The number of dollar billionaires has increased to 136 from 126 last year. However, 100 individuals saw their wealth decline.

The market capitalization of all listed companies is now equivalent to 84% of India’s nominal GDP which is the highest in emerging markets.

The Hurun India Rich List is a snapshot of wealth as on 31 July 2017 and exchange rate used for US$ was Rs. 64.1.

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