Wednesday, May 18, 2011

Extraordinarily, it grows rich display of wealth in India

NEW DELHI - At the height of India, which is not sufficiently rich. For the wealthy, is closer to flaunt their wealth, so typical of the new rich in Russia, China or the Middle East.

India and the heel to be timid about displaying their wealth in the decades after independence from Britain, where the economy is tightly controlled and to shine the dominant social thinking limited options.

But many Indians are affluent conspicuous consumption, turn your back, the mantra of the severity of Mahatma Gandhi advocated the independence hero, the father of the nation has avoided possessions.

"They threw the stage sparingly, if it was tasteless, the wealth Flash Gandhi considered," said Radha Chadha, co-author of "The cult of the luxury brand," the rich Asian countries studied.

The biggest sign of changing attitudes towards wealth and purchases can in the stampede in western India designer labels deletion Louis Vuitton, Prada, Chanel, Bulgari, and sports car manufacturer Ferrari and Maserati to see.

Attending a social event in Mumbai or New Delhi, the capital and is a courageous woman who arrives without a purse, "said Chadha, who is also a consultant for the brand.

In the past dazzling extravagance was the exclusive domain of the old feudal princes of India that splashed on cars such as Rolls-Royce, diamonds the size of duck eggs, palaces and armies of servants to dominate the UK.

Later, users had to the luxury look, go to all stores in five-star hotels. However, a construction boom in India center brings the kind of upscale retail air conditioning systems often found in other parts of Asia.

"People are less inhibited in their spending," said New Delhi furniture designer Raseel Gujral Ansal opening of an exhibition of his works last month that the elite of the city oohed on sofas, chairs, beds and tables.

Even Prime Minister Manmohan Singh called for the moderation of the excesses of wealth and "avoiding conspicuous consumption."

But the Indian billionaire Azim Premji, said that the phenomenon is common in countries such as China, Indonesia and Thailand, where people enjoy the new wealth. "The early years, people want to see are of course very rich," he said.

Do one of the largest outsourcing companies in India, Wipro, and is famous for his frugal lifestyle and philanthropy in a field of multimillionaires, whose extravagance often national headlines.

was the richest man in the country, Mukesh Ambani transferred last year in a billion-dollar skyscraper in Mumbai on 27 floors with three helicopter landing pads in a development that rises on the nearby slums.

He has already given $ 60,000,000 Airbus jet to his wife for her birthday.

"People always have money, but now they are not afraid to reward yourself," Ashish Chordia Shreyans CEO Group, an importer of Porsche sports cars and others said in India.

Sales of luxury cars like Mercedes and Ferrari accelerates to 80 percent last year despite the punitive tariffs of 100 percent and bumpy roads.

"Last year was phenomenal," says BMW India President Andreas Schaaf, relating to the sale.

Aston Martin last month in the list of luxury brands in India with plans to sell three models - the V8 Vantage, at $ 348,341, $ 483,146 in the price Fast and the One-77 on the modest sum of $ 4,500,000.

The luxury market in India as a whole is expected to 15 million in 2015 to $ 4,760,000,000 Triple today, according to global consulting firm AT Kearney, China is still, despite 9.6 billion U.S. dollars.

The number of Indians with assets over $ 1,000,000, excluding primary residences, is currently 127.000, the World Wealth Report 2010 by Merrill Lynch and Capgemini said.

A new survey of 160 financial advisors for a private bank of Citibank, are super-rich Indians most likely members of the world should invest in private planes and yachts in the coming years.

At the same time, observers say the new show highlights how the gap between India's rich and poor is widening.

"It makes me uncomfortable how much people spend on weddings," a company spokesman said in New Delhi, wedding planner, said that families regularly spend 10 million rupees (225,000 dollars) in a case in days several weddings in India.

India has the largest number of poor in the world. About 42 percent of the Indians, or 455 million people live on less than $ 1.25 per day, according to the World Bank.

Health Statistics in India, child mortality and malnutrition are worse than some sub-Saharan Africa.

Shekhar Gupta, editor in chief of The Indian Express, described the rich "divorced and isolated" from poverty.

"We send our children to private schools, private hospitals treated only our own security in gated communities to use, never more to public transportation," he said in a column.

vomit in the prestigious shopping mall Emporio in New Delhi, chauffeured Mercedes, BMW and the occasional Rolls-Royce or Bentley regular passenger elevator full of shops store where the bags retail for $ 2,000 or more.

"I do not take my mother in law here - you will be surprised by the prices," said Shaila, the wife of a businessman, like the fingers of soft cloth bag Bottega Veneta leather prices on 136 899 rupees ($ 3080) one of the Mall

"I never say what I have to pay for things. She thinks it's a lot more if a bag costs 500 rupees," said Shaila and asked that his name not be used.

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