Forbes List Adds a Billionaire from India Each Month

The number of Indians on the Forbes billionaire list rose to 101 from 84 in 2016, and Fakhri Ahmadov, managing director at Ahmadoff & Company, a U.K. based wealth advisory firm, says,  “Eevery 33 days brought a new Indian billionaire to the list last year.”

Forbes says India had 36 billionaires in 2005;  55 billionaires in 2010; and by 2016 India added 46 billionaires or roughly eight new one-percents per year since 2011. Between 2005 and 2016, India’s economy rose 170% while the world economy gained around 30%.

The healthcare and pharmaceuticals sectors added 10 business founders to the FORBES billionaires list in the last seven years, more than any industry in India. Retail added another seven billionaires during that period, Ahmadov said in a report dated April 8.

Billionaire Status

The reasons for this phenomenon are:

  • Fast economic growth in consumer retail goods
  • Redistribution of wealth along billionaire family lines
  • Increased penetration of the banking system
  • Increase foreign direct investment both in the physical economy and corporate equity


May 2, 2017   No Comments

Amazon Launches Fire TV in India

Amazon launched its Fire TV stick in India  with Amazon’s Prime Video India director and country head Nitesh Kripalani and Amazon Fire TV vice president Marc Whitten at the launch. India is the fifth country where the device becomes available after the U.S., U.K., Germany and Japan.

Priced at $62, the Fire Stick stick comes pre-loaded with  Amazon Prime Video and rival platforms, such as Netflix, Fox India’s Star network-owned Hotstar, Viacom18’s Voot and Indian film major Eros International’s ErosNow, among others. Additionally, the device offers access to YouTube, various gaming apps and more, says The Hollywood Reporter.

Amazon Fire TV Stick with Voice Remote

Amazon Fire TV Stick with Voice Remote

Whitten said, “Fire TV Stick also offers data monitoring and other features to help customers in India get the most from their data plan and stream more content using less bandwidth.”



April 26, 2017   No Comments

India in Top 8 on Global FDI Confidence Index

With 31 percent of the surveyed respondents being more optimistic on the economic outlook over the next three years, India has jumped one spot to rank 8th in the 2017 AT Kearney Foreign Direct Investment (FDI) Confidence Index.

Vikas Kaushal, partner and head of India at U.K.-based AT Kearney said, “Investors see India as a vast and diverse up-and-coming market with plans to increase investments there over the near to medium term. Reform efforts by the current government have improved the country’s investment environment. India’s vast domestic market is an added attraction for foreign companies. Investors are looking at India’s phenomenal economic performance as a key selling point. It is forecast to be the fastest-growing major economy in the world in the coming years, which should provide a variety of investment opportunities to global firms.”

Magazine with Investment Report written on it

Business Standard reports that according to Kearney, 70 percent of the respondents plan to maintain or increase their FDI in India in the coming years. The government will eliminate the need for FDI approvals in sectors where licenses are also required, such as defense, telecommunications and broadcasting.

April 20, 2017   No Comments

Fundamentals Drive Global Institutional Investment to India

Toby Nangle, head of multi-asset allocation at U.K.-based Columbia Threadneedle Investments, a global asset management group, says that India is better shielded than other emerging markets from risks tied to policy shifts in the U.S. In an interview on Bloomberg Television, Nangle said, “It’s a bit of a sleeper trad; there’s a nice, clear structural story which isn’t contingent on the whims of Washington.”

India’s S&P BSE Sensex Index has jumped 11 percent this year; the government has been instituting economic reform; and sovereign bonds have been gaining on speculation that a stronger currency will lure more foreign inflows into its debt market, reports BloombergMarkets.

Columbia Threadneedle Investments Logo

“Where’s the lowest hanging fruit within emerging markets?” Nangle said. “It looks to be actually India.” He advocates seeking opportunities that might be too small for major global investors.


April 11, 2017   No Comments

Vodafone Confirms Merger Talks with India’s Idea Cellular

U.K.’s Vodafone confirmed it was in talks to merge its Indian subsidiary with its local rival in an all-share deal. A possible merger between the country’s No. 2 provider Vodafone India and its third largest, Idea Cellular Ltd., will create a subscriber base of 395 million subscribers propelling Vodafone to first place (by number of subscribers), a slot that Bharti Airtel currently occupies, and give it a revenue market share of around 40 percent in the country’s telecom sector.

Vodafone India

Reuters reports that Idea and Vodafone complement each other: Idea is stronger in rural areas while Vodafone’s Indian unit is more competitive in cities. The new entity will be able to cut costs mainly through reduced capital spending and network operating costs, and pose a direct threat to Bharti Airtel and Reliance Jio say analysts.

 “With each generation of mobile evolution, such as 3G, 4G and now 5G, the cost of upgrading goes up. In telecommunication, returns are all about scale – as the fixed costs of the network are about the same for everyone,” Chris Lane, analyst at Sanford C. Bernstein, said in a telephone interview, to Economic Times. “As you slip down the ranks, you become more and more sub-scale and profitability keeps diminishing,” he added. Competition will raise the stakes for India’s wireless providers, with analysts predicting a period of consolidation where smaller providers will be acquired or will exit the market.




January 31, 2017   No Comments