Wealth of Indian billionaires went up during lockdown while millions lost livelihoods, claims an Oxfam study. In fact, India’s 100 billionaires have seen their fortunes increase by Rs.13 lakh crore since March 2020, says the Oxfam report “The Inequality Virus” the latest report released on the opening day of the World Economic Forum’s ‘Davos Dialogues’.
The report notes that billionaires in sectors like coal, oil, telecom, medicines, pharmaceuticals, education and retails increased their wealth exponentially since March 2020.
The wealth of Indian billionaires increased by 35% during the lockdown and by 90% since 2009 to USD 422.9 billion ranking India, sixth in the world after US, China, Germany, Russia and France.
