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💰 G20 Study: India’s Richest 1% Gained 62% Wealth in 23 Years (2000–2023): G20 Report Highlights Deepening Inequality & Urgent Reform Needs | G20 Warns of Inequality Crisis as 2.3B Face Food Insecurity
1️⃣ India’s Wealth Divide Widens
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Top 1% Wealth Growth: Increased by 62% between 2000–2023.
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Comparison: China’s top 1% saw 54% wealth growth during the same period.
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Implication: Rising concentration of wealth within a small elite group.
| Country | Wealth Growth (Top 1%) | Period |
|---|---|---|
| India | +62% | 2000–2023 |
| China | +54% | 2000–2023 |
2️⃣ Global Inequality: A Crisis in Numbers
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Global Top 1% Share: Captured 41% of all new wealth (2000–2024).
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Bottom 50%: Received just 1% of new wealth.
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Coverage: Inequality rose in over half of all countries, covering 74% of global population.
| Segment | Share of New Wealth (2000–2024) |
|---|---|
| Top 1% | 41% |
| Bottom 50% | 1% |
3️⃣ Decline in Poverty Reduction
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Global Poverty Trend: Reduction has slowed or reversed since 2020.
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Food Insecurity: 2.3 billion people face moderate/severe hunger — up 335 million since 2019.
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Health Access Gap:
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50% of the world lacks essential health services.
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1.3 billion people face impoverishment due to out-of-pocket health expenses.
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4️⃣ Intercountry Inequality: A Mixed Picture
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Narrowing Gaps: Rise in per capita income in India and China reduced overall intercountry inequality.
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High-Income Countries: Their share in global GDP has declined.
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However: Intra-country inequality remains severe and worsening.
5️⃣ Political and Economic Risks
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Democracy at Risk:
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Countries with high inequality are 7× more likely to face democratic decline.
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Economic Instability:
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Unequal wealth distribution weakens domestic demand and social trust.
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Climate Challenge:
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Inequality hampers global climate progress due to unequal resource access.
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6️⃣ G20’s Call for Coordinated Action
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New Global Body Proposed:
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International Panel on Inequality (IPI) — inspired by IPCC model.
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Objective:
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Monitor global inequality and provide authoritative, accessible data for policymakers.
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Leadership:
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Initiative under South African G20 Presidency with Nobel Laureate Joseph Stiglitz, Jayati Ghosh, Winnie Byanyima, and Imraan Valodia.
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Quote: “Extreme inequality is a choice, not destiny. Political will can reverse it.” — G20 Expert Panel.
7️⃣ Key Takeaways for India
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Wealth Imbalance: The top 1% in India holds a rapidly expanding share, outpacing China.
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Growth vs. Equity: While GDP growth has been strong, income distribution remains uneven.
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Policy Need: Urgent focus on progressive taxation, social spending, and wealth transparency.
8️⃣ The Financial Bottom Line
| Indicator | Data | Period |
|---|---|---|
| India’s Top 1% Wealth Growth | +62% | 2000–2023 |
| China’s Top 1% Wealth Growth | +54% | 2000–2023 |
| Global New Wealth Captured by Top 1% | 41% | 2000–2024 |
| People Facing Food Insecurity | 2.3 billion (+335M) | 2019–2025 |
| Population Lacking Essential Health Coverage | 50% (1.3B affected) | 2025 |
Disclaimer
The data and analysis presented are based on the G20 report commissioned under the South African Presidency and led by Nobel laureate Joseph Stiglitz. The Profit India does not provide investment, legal, or financial advice. Readers are advised to verify information independently before making financial or policy decisions.
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