As India races to open up, booming indices and asset prices have catalysed optimism about the promise of the potential. That though is not the complete picture, writes @ShankkarAiyar. #BQOpinion bit.ly/3BWoQqA
@ShankkarAiyar The decoupling of cost and valuation fuelled by public monies triggered a transfer of gains to private wealth, with billionaires globally adding over a trillion dollars to their wealth in just in the last 12 months.
@ShankkarAiyar Of the $130 billion added by 19 Indian billionaires, Mukesh Ambani and Gautam Adani added $65 billion, nearly the wealth of Jim Walton, the heir to Walmart, in just one year.