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Gates and Buffet visit to India starts Tuesday

March 21, 2011

Just a quick post from Agence France Presse as Bill & Melinda Gates and Warren Buffet begin their India visit to discuss their Giving Pledge.

 

India’s booming economy — growing by nine percent annually — has 55 billionaires with an average net worth of $4.5 billion, according to Forbes, the third-largest pool of billionaires after the United States and China. Yet rich Indians are often criticised by local media for a reluctance to part with their cash.

In fact, India’s wealthiest social class has the lowest level of giving — just 1.6 percent of household income compared to 1.9 percent for the country’s middle classes, according to global consultancy Bain and Company.

Stay tuned…

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