Known as ‘Asia’s wealthiest village,’ Madhapar is situated in Gujarat, near Bhuj. There are 32,000 people living in the village, and among them are holders of fixed deposits valued at Rs 7,000 crore. The main cause of this affluence is the contributions made by NRI families, who work mostly in the construction industry overseas and often deposit substantial sums of money in local banks. The village’s thriving economy and solid infrastructure are results of the dedication of its expat population.
Gujarat is a highly sought-after business destination in India. It has given birth to some of the leading businessmen in the nation. However, the wealth isn’t limited to urban areas. Kachchh’s Madhapar is regarded as the “richest village in all of Asia,” with equally impressive levels of economic wealth.
The village’s inhabitants, who live on the outskirts of Bhuj, have fixed deposits of ₹ 7,000 crore, which provides an idea of their wealth.
Primarily, Madhapar is home to the Patel people. Its population has increased from 17,000 in 2011 to an estimated 32,000.
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Madhapar is Richest Village in India
The Patel community resides in Madhapur, which also has 17 banks, including well-known public and commercial institutions like Union Bank, HDFC Bank, SBI, PNB, Axis Bank, and ICICI Bank. A greater number of banks are interested in building branches here, which is rare for a single community.
Its NRI (non-resident Indian) family, who deposit crores annually in local banks and post offices, are the driving force behind the economy. Although there are almost 20,000 residences in the community, 1,200 families—mostly from Africa—live abroad.
A significant portion of the region’s expatriate population, Gujaratis, run the building industry in Central Africa. Numerous others reside in the United States, Canada, Australia, and New Zealand.
Why is Madhapar famous?
Parulben Kara, a former District Panchayat president, stated, “Even though many villagers live and work abroad, they remain attached to their village and prefer parking their money in the banks here rather than where they live.”
The significance of these deposits was discussed by the village’s local branch manager of a nationalised bank. “It is now affluent because to the massive reserves. It has all the necessities, including roads, water, and sanitary facilities. There are lakes, temples, public and private schools, and bungalows,” the manager remarked.
They still have close links to Madhapur even though majority of the locals have moved overseas. There are about 1,200 families residing abroad among the village’s over 20,000 dwellings. Significant economic growth and infrastructural development have been brought about by the ongoing infusion of capital from non-resident investors.
Business State of India
Gujarat is regarded as one of the best places in India to do business, having produced some of the nation’s most successful businessmen. But the wealth of the economy is not confined to the cities. Villages such as Madhapur demonstrate how the global linkages that connect rural places can contribute significantly to their riches.
Madhapur’s success and distinct financial situation demonstrate the impact and dedication of its expat population. Due to the substantial investments and deposits made in the village’s institutions, the community has established a solid financial position, which is a testament to the commitment of its citizens.
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