Gujarat is one of the top business destinations in India. This state has given birth to many big industrialists of the country. But this prosperity is not limited to cities only. Rather, you will be surprised to know that Asia’s richest village is also present in Gujarat. Madhapar of Kutch is called ‘the richest village in the whole of Asia’. The residents of the village located on the outskirts of Bhuj have a total fixed deposit of Rs 7,000 crore, which shows how rich they are.
There are 17 banks in the village, many others are trying to open branches
According to NDTV, Madhapur is mostly inhabited by the Patel community. Its population is currently estimated to be around 32,000. There are 17 banks in the village, including major public and private banks like HDFC Bank, SBI, PNB, Axis Bank, ICICI Bank and Union Bank etc. – which is unusual for a single village. Despite this, more banks are trying to open their branches here.
What is the reason behind this wealth?
The reason behind this wealth is the NRI (Non-Resident Indian) families here, who deposit crores of rupees in local banks and post offices every year. There are about 20,000 houses in the village, but about 1,200 families live abroad, mostly in African countries.
Construction business gains momentum in Central Africa
The construction business in Central Africa is dominated by Gujaratis, who are part of a large expatriate population in the region. Many also live in the UK, Australia, the US and New Zealand. According to Parulben Kara, former district panchayat president, though many villagers live and work abroad, they remain attached to their village and prefer to deposit their money in banks here rather than where they live.
The local branch manager of a nationalised bank in the village said that huge fixed deposits have made it wealthy. The village has all the basic amenities like water, sanitation and roads. The manager further said that it also has bungalows, both public and private schools, lakes and temples.
Source (PTI) (NDTV) (HINDUSTANTIMES)