India has grown ot become of the largest, more precisely, the fifth largest economy in the world in the recent past. A part of the surge is to do with relative decline in the prospect of other economies, like the United Kingdom, that have struggled in the recent past.
Top 5 Wealth Creators
Another part of the reason is India’s growth rate, which maintained an impressive pace. Today, India’s Gross Domestic Product or GDP, which is the most popular means of judging growth stands at USD 3.89 trillion, according to the IMF.
In this, the focus has been on wealth creators as well. According to a recent study from Motilal Oswal between 2019 and 2024, the top 100 wealth creators in the countries, most of them private and public corporations, generate a mammoth Rs 138 lakh crore. In addition, the total wealth destroyed stood at 4.3 lakh crore.
In this, when we look at the top 5 purported wealth generators, all five companies have cumulatively added 10 per cent of the overall wealth generated by the top 100 entities in India.
Reliance Tops The List
The top 5 entities in focus are Reliance Industries Limited, Tata Group’s Tata Consultancy Services, or TCS, Bharti Airtel, ICICI Bank, and SBI. In this, interestingly, 4 out of the 5 firms are headquartered out of Mumbai, with the exception of Airtel, that is based out of Delhi.
Mukesh Ambani-led Reliance, or RIL, is a conglomerate with interests in multiple-diversified sectors, from petroleum to OTT to clothing. The company generated a total wealth of Rs 11.1 lakh crore.
Reliance Topped the list |
Then, there is the IT arm of major conglomerate Tata Group, TCS. The Mumbai-based tech company generated wealth amounting to Rs 8.3 lakh crore.
TCS was followed by the second-largest telecom company in the country, Bharti Airtel. The Sunil Mittal-led company accrued wealth worth Rs 5.4 lakh crore. Mumbai-based private banking behemoth, ICICI bank comes in next. The bank generated an accumulative wealth of Rs 5.10 lakh crore.
Interestingly, at the same time, between 2019 and 2024, India’s GDP per capita grew from USD 2,050.16 in 2019 to USD 2,484.85 in 2024.
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India’s GDP Per Capita
A public-run or government-owned company also made it to the list. The largest lender in the country, the State Bank of India, made a total of Rs 4.17 lakh crore between 2019-24.
Interestingly, at the same time, between 2019 and 2024, India’s GDP per capita grew from USD 2,050.16 in 2019 to USD 2,484.85 in 2024.
Meanwhile, the United Kingdom, the country India displaced to become the fifth largest economy saw its GDP per capita to USD 42,662.54 in 2019 to USD 48,866.60 in 2024.
