India's Top 1% Grew Richer By 62% Since 2000: G20 Report

2025-11-04 07:02:47

(MENAFN- Kashmir Observer) New Delhi ~ India's richest 1 per cent expanded its wealth by 62 per cent between 2000 and 2023, according to a report commissioned by the South African Presidency of the G20.

The study, led by Nobel laureate Joseph Stiglitz, warns that global inequality has reached“emergency” levels, threatening democracy, economic stability, and climate progress.

The G20 Extraordinary Committee of Independent Experts on Global Inequality, which includes economists Jayati Ghosh, Winnie Byanyima, and Imraan Valodia, found that the top 1 per cent globally captured 41 per cent of all new wealth created between 2000 and 2024, while the bottom half of humanity received just 1 per cent.

The report said the intercountry inequality, broadly measured, appears to have reduced because of the rise in per capita incomes in some very populous countries like China and India, which brought down the share of high-income countries in global GDP somewhat.

The report said that between 2000 and 2023, the richest 1 per cent increased their share of the wealth in over half of all countries, which contain 74 per cent of the globe.

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