2 days ago
1% hold 40% wealth: Financial analyst says income gap in India now worse than under British rule
India's top 1% now control 40.1% of the country's total wealth — more than what colonial elites held during British rule — while the bottom 50% of the population hold just 6.4%, according to a recent analysis by research analyst Hardik Joshi. He based his findings on data from the World Inequality Database.
Comparing present-day inequality to colonial India
Joshi drew comparisons between present-day inequality and the British colonial period, arguing that economic disparity has widened to levels not seen even under foreign rule. 'This is not an accident. It's policy,' he wrote in a LinkedIn post. 'Half the country is fighting for crumbs while a tiny fraction lives in unimaginable luxury.'
Top 10% earn most of national income
The analysis highlights that the top 10% of Indians earn 57.7% of the national income, leaving the bottom half with a much smaller share. Joshi attributed this to several factors including favorable tax laws for the wealthy, weak labor protections, and growing corporate consolidation. 'Real estate and stock market gains mostly help those who already have capital,' he said.
Power and wealth remain concentrated
Joshi claimed that the existing system reinforces inequality rather than correcting it. 'Inequality doesn't hurt those with power — it helps them,' he wrote. 'They fund elections. They shape the media narrative. They lobby against redistribution.'
Although India's economy has been expanding, Joshi said the growth is not inclusive. He pointed out that the challenge is not the amount of wealth India generates but how it is distributed. 'We produce enough wealth. We just don't share it fairly.'
Live Events
Calls for urgent reforms
To address the issue, Joshi urged the government to consider wealth taxes, stronger labor protections, and greater investment in healthcare and education. 'Until there's real political will,' he warned, 'this will keep getting worse.'
Concluding his remarks, Joshi questioned the idea that inequality is a natural outcome. 'The system isn't broken — it's rigged,' he wrote. 'It's time we stopped pretending this is inevitable. It's time to ask whose interests the system really serves.'
