Reference Auto

Even as India slips in the Global Competitive index, its rich are surging ahead in world rankings, and in the latest prediction, Forbes magazine has said that business baron Mukesh Ambani (53) will become the richest man in the world by 2014.

In its special 2020 report called ‘What Happens Next - Our Look Ahead’, it said, Reliance Industries’ chairman Ambani, who currently has a net worth of $29 billion, will trump Mexican businessman Carlos Slim, currently the world's richest man, to top Forbes’ rich list by 2014.

According to Forbes, Ambani’s net worth will mount to $62 billion while Slim will be pounded by a Mexican political and economic crisis. Currently, Ambani ranks fourth in Forbes pecking order of billionaires.

Among the many Indians who find a place in Forbes top 100 are: Lakshmi Mittal, who is worth $28.7 billion and ranked 5th, Azim Premji worth $17 billion and ranked 28th, Anil Ambani worth $13.7 billion and ranked 36th. At number 40 is Shashi & Ravi Ruia at $13 billion, Savitri Jindal is number 44 and is worth $12.2 billion while K P Singh has $9 billion and is 74th. Also in the pack are Kumar Birla (at 86 and worth $7.9 billion) and Sunil Mittal (87th with $7.8 billion).

While India Inc’s progress has been exponential, India (or Bharat for that matter) has been lagging far behind mainly owing to lack of political will to see a resurgent India.

A resurgent India would mean people are self-reliant and this is what our political parties don’t seem to be keen on as it would mean loss of hordes of party workers and supporters (who would obviously show disinterest in party politics and instead pursue their own careers). If, on the other hand, India was allowed to function like India Inc, it could have been counted among the top few in the developed world.

Meanwhile, it is interesting to note that Forbes has listed certain predictions, which it said will occur over the next decade in the field of politics, energy, medicine, finance, society and technology. Forbes said its prediction is based on real data, projection and facts and it adds that it has injected a dose of science fiction into it.

One of the interesting predictions made by the magazine is that Ponzi scheme fraudster Bernard Madoff will commit suicide in his prison cell in 2011 and prison officials will not rule out foul play.

Among other interesting predictions are:

In two years, Facebook will debut on NASDAQ, with its IPO valued at $40 billion. Its founder will become one of the first 20-year-olds who will be worth $10 billion-plus.

By 2020, Wal-mart will employ five million worldwide and its sales will surpass one trillion dollar.

In 2017, Harvard endowment will double to $50 billion. It will offer free tuition to lure top students from China.

The US job scene wil finally improve in 2018 as unemployment will drop below 7 per cent and worst of quadruple-dip recession be over.

Although the Forbes report says Mukesh Ambani will become the world’s richest by 2014, India (Bharat) is likely to witness a tardy progress unless the government scales up corporate social responsibility manifold and facilitates plugging the gap between India Inc and India.