India has the Third largest number of billionaires Next to US and China

India is a land of many contradictions. On one hand you have an economy which is the second fastest growing in the world after China, strong Indian companies with a global footprint, surging stockmarkets and an interesting diversity in terms of culture and languages. On the other hand you have poor infrastructure, lack of significant development in the rural hinterland and a majority of population which depends upon agriculture as means of livelihood. Of the various phenomenon that have put India on the global map, one such factor is the number of billionaires in the country. As the above chart shows, in 2009, India had the third highest number of billionaires after the US and China. Interestingly, India also has the highest percentage of population living below the poverty line as compared to its BRIC peers further accentuating a myriad of stark contrasts in the country. - Excerpts from Equity master