India's richest 1% have grown their wealth by 62% since 2000: G20 study
- IBEF
- November 6, 2025
A G20-commissioned study by the World Inequality Database, led by Nobel Prize winning Economist, Mr. Joseph Stiglitz, highlights that India’s richest 1% increased their wealth by 62% between 2000 and 2023, reflecting the country’s robust economic expansion and growing capital formation over the past two decades. The report notes that while global inequality has widened within many nations, countries such as India and China have helped narrow the gap between developing and advanced economies by driving sustained income growth and lifting millions out of poverty. India’s continued progress in infrastructure, digital inclusion, and financial access has enabled broader participation in wealth creation, strengthening its position among major emerging economies.
At the same time, the study underscores the importance of ensuring balanced growth that benefits all citizens. It proposes the creation of an International Panel on Inequality (IPI) to provide reliable data and policy insights for global action. India’s commitment to inclusive development is evident through initiatives such as Digital Public Infrastructure, Direct Benefit Transfers, and targeted social schemes that have improved access to health, education, and livelihood opportunities. The findings reinforce the scale of India’s transformation and its growing influence in shaping equitable growth models for the Global South under the G20 framework.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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