When everyone thinks that India is a poor country, its wealth of billionaires has the proportion of wealth of national wealth is second only to Russia.Why did India have emerged so many wealthy in just thirty years, Muksh Ambani, Gauntam Adi ... How did these rich realize wealth accumulation quickly?

In the book "New Gold Plating Age", James Clarbtery, an associate professor at the School of Public Policy of Singapore National University Lee Kuan Yew Public Policy and Executive Director of the Asia Branch of the Institute of International Strategy, discusses this problem in detail.

This study of the Indian economy was also recommended by the Nobel Prize winner of Economics Amatia Senzhong."This is a story about the issue of rich and poor in India. It is thoughtful and fascinating, and it is even more sad to reveal how inequality can effectively crush and defeat the great achievements of a country."Published by the new classic culture.

When Jante Xinha started working earlier when working at McKinsey, he began to pay attention to the billionaires of India. He joined the management consulting company in the 1990s and made a partner all the way to open the first office of Mumbai for the company.Win the first batch of Indian customers.He expressed accurate, dressed well, wearing a pair of frameless glasses, his hair was sparse but clean, and the client felt that he was trustworthy at first sight.

Xinha was born in India, but the English was the standard Meiyin, which was due to his academic career at Harvard Business School and his work experience on the East Coast of the United States.Around 2005, India's economy and stock market flourished, and he often went to India for business trips due to work reasons.At that time, the elites in the Indian business elites were dealt with.Their amazing new wealth and the way of earning wealth surprised.In 2017, Xinqa accepted my interview in the home of New Delhi and talked about the prosperity of India ten years ago. He told me: "The more I know, the more worried. The matter is clear, but there must be someone controlling the market."

In the early 1990s, there was no Indians on the Global Billionaire List of "Forbes".The four brothers born in India are on the list. They are the richest families in Britain now, with a total wealth of $ 15 billion, but most of their company registration is in Switzerland and London, so they are counted as the BritishEssenceImmediately afterwards, the Indians began to appear on the list sporadic. The earliest was Kumar Bira, the head of the famous Bira Group, and then Drubai Ambani, the hot -tempered steel king Rakhmimi· Mittal and Telecom tycoon Sonier Mittal, who is one of the few people who can compete with Gauntham Adidan, who started an entrepreneur from India.

The Indians on the list are more than a year, and there are dozens of more in the first few years of the new century.expansion.In 2010, Muksh Ambani and Lakhmi Mittal were squeezed into the top five of the global billionaire lists at the same time.Four years later, the number of billionaires in India exceeded one hundred. Among them, Ada's wealth growth was the fastest, and the increase in the last year was as much as 4 billion US dollars.

However, how richer is the billionaire in India compared with other countries?It seems that no one can give the answer.In 2008, in order to answer this question, Xinha found out the previous "Forbes", and entered the wealth of each rich man and the economic scale of its country in the Excel table.Fortunes account for the proportion of national wealth.As a result, he surprised him, and India's proportion was second only to Russia."Everyone thinks that India is a poor country, but its wealth is so concentrated, it is first, and it is too scary." He told me.

When Russia's economic scale reached 1.3 trillion US dollars, it was proud of having 87 billionaires.From the perspective of Xinqa's form, India does not hesitate to give up. When the economic scale approaches 1.3 trillion US dollars, there are 55 billion billionaires.As we all know, the rich and poor in the United States and Brazil, but India's situation is far more serious than them."We have implemented the socialist economic model for a long time," Xinha said. "After that, we only made wealth concentrated to an incredible point in just 15 or six years.So fast ""

In addition to digging the numbers, Xinha is also studying these new billionaires to earn wealth.As a senior leader of the Indian People's Party and the father of the former Minister of Finance, Ashwande Xinha, he was in contact with politics when he was young.During Harvard's study, his teacher managed Michael Michael Potter. During the period of the Indian license system, the papers mainly studied the Indian license system.Today, the continuous harvesting of high -profits in India reminds him of the United States in the early years, and he is gradually convinced that similar things are staged again.

In 2011, the Financial Times published an article about skirt capitalism written by him and others. That article made me start thinking about inequality and corruption.In fact, Xinha published an article in the Weekly "Prospect" in India in 2008, which clearly stated that India's new commercial elites and "robbers nobles in the United States" have many similarities."Many companies without innovation have made a lot of wealth, because they can get the government," he told me. "I am very angry. The economy is clearly controlled by a few people.

Political risk analyst Ian Breymi said that the iconic characteristics of emerging economies are "the impact of politics on market results is at least as important as the impact of economic fundamentals."Companies that develop Indians often face the difficulty and opaque problems of law enforcement. In order to develop, they gradually develop their habits of dependence and umbrellas.Before India's liberalization reform, such problems were particularly serious, which was mainly subject to the wrong regulations and license systems of India's "skirt socialism".The supporters of the free market hope that the new rules can break the past rules in one fell swoop, and the original system will gradually die.At the beginning, in the face of the increasingly fierce market competition, the old company did show signs of slightly signs, and a new generation of entrepreneurs who were better at seizing the opportunity of India's globalization era did take this opportunity to rise.

Science and technology outsourcing companies are typical. In order to reduce the operating costs of the information system, blue -chip companies such as the United States and Britain will remotely hire a cheap Indian experts to solve the problem.The rise of information technology companies Indiacus has become a legend of business: a team composed of middle -class engineers, holding hundreds of dollars of start -up funds, making a world -class big company in Bangallore.It becomes India's technology center.

It was established in the early 1980s, but it was actually after the reform of liberalization.Now when it comes to India, many people will think of pioneering startups and huge customer service call centers. This new image is inseparable from the credit of several large information technology companies such as Indian Fusheus.Nalana Murdi and Southdan Nilekani are the two most famous co -founders in India. They are highly respected in India because of the possibility of rising levels and business consciences. They are also the first.One generation of technology billionaire.At that time, Nilcani said casually: "Tom, the arena in the world today has been razed to the ground." Reporter Thomas Friedman was inspired by this sentence in 2005., This exciting master has composed a praise as a new era of global capitalism.The success of Indiacus also inspired a generation."When I was a child, if you want to be a successful businessman, you must first be born in a wealthy business family." Mira Sanaer, the head of the Royal Bank of Scotland, told me, but the Murdie of Indohasus used it.Personal deeds "shows that the middle class can not only make a difference in the business community, but also without inferior means. He is the light of hope of that generation."

The good times did not last long, and the economic situation did not appear badly, and the hope in everyone's hearts was dim.Nevertheless, foreign countries still praise India, and an editorial of "Foreign Affairs" in 2006 states that India tells a "story of capitalism to win."But the economic growth in India also provides ideal soil for corruption.Senior MP Rajv Chardrasecar was the boss of a technology company before politics, and was also a billionaire of Ka Lamborghini. He once told me: "Until 2000, the Indians still think that the country is one billion more 100 million more than 100 million more than 100 million more 100 million in the country.Wanfu Hao is a good thingJaipur Wealth Management. They believe that this is exactly that the era of India is coming.close."In the past ten years, most of the billionaires emerging in India have been made by political relations," said Chandrasecar, "In their industry, whether a company can make a lot of money depends entirely on government policy."

It didn't take long for Xinqai to send the result to the future governor of India's central bank, Lagramima Lazan, the two have been studying undergraduate in India's most famous engineering college in India. The relationship has always been good.At that time, La Zhan was also a professor of economics at the University of Chicago, but he had begun to be an unofficial consultant of Indian Prime Minister Manmoham Singh.La Zhan was shocked by Xinqa's research results. He mentioned this study in a speech in Mumbai in the second half of 2008, and threw a question of briefness: "Does India have the risk of slipping into the oligopoly politicsLucknow Wealth Management?"

La Jen quoted Xinha's data that India does have this risk, and more and more public resources falling into entrepreneurial pockets have allowed them to easily harvest huge wealth that should not be made."The wealth of billionaires depends on three things: land, natural resources, government contracts and licenses. Many people get rich and have close relationships with the government.La Zhan's concerns were basically confirmed.At that time, the Singh government was caught in a corruption scandal, and the media exposed its transfer of land, coal mines and other close -government companies, leading to tens of billions of dollars of state -owned assets.This kind of problem was deeply rooted in India. La Zhan later created a new statement of "resource rule" to distinguish the license system, referring to a Russian -style system.Natural resources, then distribute income internally.

After the scandal was exposed, Harvard's scholar Michael Walton decided to further dig the connection between the system and the billionaire.He was born in the UK and first received the training of politicians. He moved to New Delhi in 2007, and his wife also worked in the New Delhi branch of the World Bank.Earlier, both of them worked and lived in Mexico. This country is known for its wealthy chaebols and political leaders who like to appoint relatives. Many of them have taken the opportunity to take the opportunity to take the opportunity in the process of the privatization of state -owned industries such as telecommunications and banks.Walton was worried that India would fall into the same trap."I didn't expect the billionaires of India to have so much wealth, which also aroused my research interest," he told me. "My concern is whether India will become the second Mexico."

After Walton had seen Xinha's form and Lazan's speech, he also found the data of "Forbes" to conduct research.He found that in the mid -1990s, the assets of the billionaires in India were equivalent to only 1%of India's GDP, but in just 10 years, the data increased to 10%.He wanted to find out the reasons behind the significant growth, so he divided the billionaires of India into two groups. The first group of industries and governments basically did not interact.The government is closely linked. Walton calls the "high rent" industry. Whether they can make money or so -called "rent" mainly depends on whether they can get the government.

"Renting" is an economic phenomenon that economists are quite concerned. It refers to the company's production factors such as land, resources, and intellectual property rights to earn high profits that cannot be obtained in the free competition market.Some companies rely on lobbying and bribing the government for rent, and some rely on their alliances or a unique family.Sometimes the left -like thinker uses the term "eater" to describe the leasers who try to obtain valuable resources such as drilling oil or real estate development permits.Walton found obvious laws by digging data.In the first few years after the reform of India in 1991, the newly born billionaires are mostly in industries such as information technology services such as information technology services.However, the further development of economic take -off and globalization has led India's demand for goods and land sharply. The new generation of billionaires accompanied by it basically comes from the high rent industry, including minerals, real estate, cement, infrastructure and telecommunications.

Since then, the wealth of these billionaires has risen.According to Walton's data, during the stock bull market in 2008, the net wealth of billionaires expanded to 22%of the GDP, but this amazing number did not maintain it. In 2013 and 2014, the Indian economy encountered hardIn landing, many entrepreneurs in high rental industries have suffered heavy losses.However, the wealth of billionaires is still at a very high level.From 2010 to 2016, their wealth accounted for about one -tenth of the proportion of GDP, ranking among the best in major global economies."Although India is a poverty -stricken country, the proportion of billionaires occupying the GDP is not much different from Russia. This is definitely a heterogeneous," he told meMumbai Stock Exchange. "It is also because of this. Now there are so many people taking so many people to take it now.The billionaire in India is compared with the robber nobles in the 19th century in the United States. "

Although the practice of dividing the billionaires in India is rough, it is very inspiring.Richl Charma, a writer and investor in Morgan Stanley, also mentioned similar divisions.Those who rely on bribery and protecting umbrellas.In real life, the boundaries between the two are often blurred.Muksh Ambani, Vijin Malia, and Gauntam Adidan are all controversial figures, but no one will question their management talents and trading capabilities.In contrast, the clean information technology giants on the face are also embarrassed. It is difficult for them to answer how the software park is coming and management standards have declined than the company's establishment.In 2009, India encountered a rare company scandal. Satisan Computer Sciences moved to bankruptcy due to the huge financial fraud of one billion US dollars. Many people collapsed its collapse with US energy companies.

Having said that, it is not difficult to find Bollywood oligraphy.Most of them manipulate their family business in the high rent industry.Their businesses are disorderly expanded to various fields like a giant, and they are significantly different from those in the West who specialize in the direction and have a clear equity structure.Some Bollywood oligarchs are similar to Russia's oligarchs, that is, to quickly win state -owned assets with loans provided by state -owned banks.Most Bollywood oligarchs are only engaged in industries that are closely related to the government, so that they can make full use of their connections.The locals specifically given the other name for the "undertaking" for Bollywood oligarch, which means that the individual or family controls most of the company's shares and has absolute right to speak in operation.

In order to share this business for renting this business, many giants are committed to building complex networks to enhance their influence.Some become politicians like Vijin Malia.Some established a modern version of the "Xinshi Industrial Intelligence Agency", trying to make the development of the developed intelligence network established by Old Ambani for decades in New Delhi.Some adopt more obscure ways, such as opening hospitals, schools, hotels and newspapers."The reason is very simple," said Charma. "In India, most people know that it is wrong to collect cash bribes, but the gifts are different. Provide medical services for free family members, give children for free admission, and give niece at the hotel in the hotelHold a wedding banquet for free, or report a person's business story or political ambitions on a local newspaper -even if such valuable gifts, there are few Indians who feel wrong. "

The scenes described by Xinha and Walton are half -mixed. It presents new capitalism that India is formed since 1991. This trend was ten years in the early 21st century, that is, India has re -integrated globalization, and the economy has entered a prosperous period.It is especially obvious.But this is far from being dominated by the capitalist of the belt.A large part of the Indian economy belongs to the gray economyHyderabad Stocks. Most Indians are either farmers or small farmers. Other industries are led by companies with global competitiveness, such as e -commerce, information technology, media and financial services.Furthermore, there are many state -owned enterprises in India. These countries support the guys of these countries still occupy one -fifth of the national output.

Having said that, the high rent industry obviously occupies a large share of the Indian economy. In a research report, these industries have "a unique Indian business model. In this modelIt is the highest standard for measuring the core competitiveness of the enterprise, and the first element to determine the survival of the enterprise. "

Singha later won a seat on behalf of the Indian People's Party in the parliament and served as the Deputy Minister of Finance of the Narn Della Modi Government.At that time, he blamed many problems in India on the weakness of the left party and the weakness of the left party of the last governance.However, he also pointed out that a deeper problem is that three forces in the Indian economy are intertwinedJaipur Stock. One is national capitalism, referring to industries led by state -owned enterprises such as steel, minerals, etc.;The most closely linked, competitive, and rare industries; the third is the most headache for the cosmetic capitalism, referring to the Bollywood oligopoly industry, and most of them have inextricable connections with the government.Singa said that the three forces were fighting fiercely, and the results would determine the future direction of India.

◎ Introduction

1.4 billion people with a large population, 30 years of economic liberalization reform

An ambition related to the new order of the world, penetrate the real inside story of Indian politics and business symbiosis

Forty years ago, India began to reform economic liberalization in the wind and rain, and now it has become a new economy that is still strong under the major trend of the world.

Today, India has the world's largest and young population, developed technology, increasingly large middle -class consumer groups, and optimistic ambitions that expand day by day., The descendant of ordinary people cannot change poverty and hopeless life.The symbiosis of politics and commerce has contributed to India's economic miracles. It was once corrupted as the development of lubricants, but now it has eroded the rusty national machines and everyone's lives.

As a senior financial journalist and policy analyst, James Clarbutry has been serving as the president of the Financial Times in the Mencius Branch for 5 years.To the large -scale political rally of the dusty villages, the society is fully presented in all aspects of a split society where the transitional routine is transformed, and its future significance to the entire world.