The ‘Sikhs’ are the new millionaires in India.
As the country celebrates the 100th anniversary of the birth of the nation’s first prime minister, Narendra Modi, and the 50th anniversary celebration of the founding of the country’s first public hospital, the ‘Sikkhs’ have become the new gold standard of wealth.
Now, a study by CNBC is highlighting some of the key differences between the ‘Swamiji” and the ‘Sahib’ who are the other main players in India’s wealth.
In this article, CNBC reporter John Harwood and CNBC senior editor Mark Gossman discuss why the “Sikhas” have risen to the top in India, why they have come to dominate the markets, and why it will be so hard for the ‘sikhs” to climb back.1.
They are a multi-billionaireThe ‘SIKhs’ made a lot of money in the financial markets, but now, their fortunes are dwarfed by the ‘ Sahibs’ who made their fortunes in the real estate and construction industries.
In the real-estate sector, the value of the entire Indian housing market fell by $4 trillion last year.
In other words, Indian housing stock, in terms of value, was worth less than the entire economy of the United States in 2016.2.
They have built up a huge amount of wealth at home3.
They can make lots of moneyIn India, most of the wealth is held in the home sector.
For example, the average income of the households of India’s poorest 1% was $9,865 in 2015.
This was the lowest in the world.
By comparison, the wealth of the richest 0.1% was more than $2 trillion.
India has one of the lowest incomes in the developed world, with a median household income of just $7,500 a year.
The top 0.01% in India had a net worth of more than twice the median household in the country.4.
They control most of their money5.
They live in a very rich area6.
They enjoy relatively high incomes7.
They pay very little taxes8.
They own huge tracts of land1.
The ‘Sahihs’ have been making money for decades2.
The economy is still growing but the economy of India is much more diversified than the rest of the world’s3.
The rich have huge tracts to expand4.
The poor have to go hungry5.
The Sahib have been running India since the 19th century6.
The “Sahibs” dominate the market for housing, which is not much different from the real world5.
In real estate, the “Sahih” dominate7.
The average income for households in India is $90008.
The poorest 1.01 percent earn more than the median income of Indian households9.
The richest 0% own a third of the Indian housing land10.
The wealthiest 0.05 percent own more than half of the total land area11.
The most valuable houses are located in the ‘northern’ states of Tamil Nadu and Kerala12.
The money is tied up in huge, high-density property clusters in the southern states of Gujarat and Kerala13.
The country’s richest 10 percent owns more than 70 percent of the land and owns more land in the south14.
The land is not easily accessible and it is not cheap15.
The wealth of these ‘Sahimis’ is in the “northern” states, but the wealth and power of the Sahibic elite is concentrated in the top 1 percent16.
The government has been unable to regulate the wealth generated by these ‘sikh sahibs’, which can be taxed like the rest17.
The income of this rich class has not been taxed since 2011, but it is still rising18.
The vast majority of the money is being invested in real estate19.
India’s population is growing and more and more people are taking up construction jobs and are leaving their homes to live in urban areas20.
In a very short period of time, India has witnessed the emergence of a ‘narrative of India’.
India has been witnessing an economic boom in the last few years, with the real economy expanding by nearly 5% annually.
Inflation has been low and the rupee has been weakening against the US dollar, which has become a strong currency.
However, the government has failed to curb the boom in real-property and real-equity-backed companies and to tackle the rampant corruption.
The government has tried to control the wealth from this booming real-wealth sector.
This is partly because of the policies that are being adopted by the Prime Minister.
Prime Minister Modi is pushing hard for reforms in the economy.
His policies have focused on bringing down the unemployment rate and making it easier for people to start businesses and live independently.