'Richest 1% hold 58% of India's wealth'

India's richest 1%, or 57 billionaires, headed by Mukesh Ambani, own $216 billion or 58% of the country's total wealth, a study by Oxfam has revealed.Globally , just eight billionaires have the same amount of wealth as the poorest 50% of the population. The report said there were 84 billionaires in India with a total wealth of $248 billion. According to it, the richest 10% globally have seen their incomes rise by 15% in 20 years, the poorest 10% have seen theirs drop 10%.

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