9 Mar, 2008, 1415 hrs IST,
NEW DELHI: The domestic economy is smaller than that of China and the US, but the wealth of billionaires from India is equivalent to a larger share of the nation's GDP, compared to Americans and Chinese in their respective countries.
The wealth amassed by Indian billionaires – estimated at $340.9 billion by the US business magazine Forbes – is nearly 31 per cent of the country's total GDP. This gives them nearly three times more weight in the economy than their American counterparts and over ten times of those in China.
The net worth of all the Chinese billionaires is just about 3 per cent of the country's GDP, while that for the US billionaires is nearly 11 per cent.
In its annual list of world's billionaires, Forbes said there are a total 42 billionaires in China and 469 in the US with a combined net worth of $95 billion and $1.6 trillion, respectively.
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