October 30, 2007

The Richest man in the world

Who is the richest man in the world?

If you answered Bill Gates, then you might be wrong.

Yesterday, Sensex, India's stock market index, touched 20, 000 points for the first time and supposedly made Mukesh Ambani, a major share holder in Reliance Industries, Reliance Petroleum and Reliance Infrastructure the richest man in the world with a combined value of 63.2 billion dollars. How long can he stay there remains to be seen?

For the last one year the Indian stock market has seen an unprecedented growth. The sensex that barely touched 10,000 less than an year ago has doubled itself in record time. I don't know a lot about how the economy operates but the growth seems to have some negative impact too. For example, the software industry, which had been flourishing in the recent years, is facing difficulties as the Rupee gains strength against the Dollar.

But, now that the richest man in the world is from India, let us hope that someone will focus on tackling the problem of thousands of people in India suffering in abject poverty.

1 comment:

stev said...

interesting fact...

the markets have been largely positive in asia of late in a number of countries notably india + china. mmm...

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