India's top 1% grew its wealth by 62% since 2000: G20 report

India's richest 1% expanded its wealth by 62% between 2000 to 2023, according to a report commissioned by the South African Presidency of the G20.

The study, led by Nobel laureate Joseph Stiglitz, warns that global inequality has reached "emergency" levels, threatening democracy, economic stability, and climate progress.

The G20 Extraordinary Committee of Independent Experts on Global Inequality, which includes economists Jayati Ghosh, Winnie Byanyima, and Imraan Valodia, found that the top 1% globally captured 41% of all new wealth created between 2000 and 2024, while the bottom half of humanity received just 1%.

The report said the intercountry inequality, broadly measured, appears to have reduced because of the rise in per capita incomes in some very populous countries like China and