Gautam Adani

Richest 1% own 40.5% of India's wealth, says new Oxfam report

In 2022, the number of billionaires in the country increased to 166 from 102 in 2020, the report said.

Meanwhile, it added that the poor in India "are unable to afford even basic necessities to survive".

BBC reports the charity called on India's finance minister to levy a wealth tax on the ultra-rich to tackle this "obscene" inequality.