Global Themes

On Globalization & Venture Capital

The rise and rise of Asia

Many of you must have picked up these two (separate) news-stories from a few weeks ago…

1.  Mukesh Ambani, Chairman and largest shareholder of Reliance Industries (India) reportedly became the world’s richest person – partly owing to the rally in the Indian stock market.

2. PetroChina became the world’s first trillion-dollar firm when it floated on the Shanghai stock exchange a few weeks ago.

I wonder if this just the beginning of The Great Reverse?

November 12th, 2007 Posted by | China, Emerging Markets, India | one comment

1 Comment »

  1. From an IHT news-story:
    “Mumbai tycoon Ambani is a close second to steel magnate Mittal among Indian billionaires”

    Excerpts:
    “…The stock boom coupled with rising real estate prices helped India add 18 new billionaires in the past year, taking the total to 54 — the highest in Asia.

    Their collective net worth was estimated at US$351 billion, making them the wealthiest group in Asia, the Forbes statement said…

    The top four* in the Indian list were worth more than the 40 richest Chinese combined, Forbes said.

    “Had these four been worth as much in March, when we published our annual list of the world’s billionaires, they all would have ranked among the world’s 10 richest,” it said.”

    Amazing!

    Full Article @ http://www.iht.com/articles/ap/2007/11/15/business/AS-FIN-India-Forbes-Billionaires.php

    * The four Indians are the two Ambani brothers, KP Singh (DLF) and LN Mittal

    Comment by Shantanu | November 15, 2007

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