India's Billionaire Club Booms to 1,319 Members, Up 76% in 5 Years as Family Empires Thrive

The number of Indians with over Rs 1,000 crore wealth increased to 1,319 in 2023, up 76% in 5 years and 278 new entrants
Rupert Hoogewerf contrasts robust growth of family-owned Indian businesses across generations with lack of multigenerational enterprises in China
Hoogewerf senses optimism among Indian businessmen about future growth versus pessimism in China and Europe
China's rich list shows shift towards emerging sectors like new energy, semiconductors, AI, while traditional sectors decline
Hurun estimates it may be missing 30-50% of India's wealthy who run private businesses in less glamorous sectors and maintain low profile