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New World South African Wealth Report 2015: Indians steal the show

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By NewsGram Staff Writer

According to the New World South African Wealth Report for 2015, the South-African Indians lead the rise in the number of millionaires in the country with other communities.

The Indians were among the 9% of the total South Africans who were in the new list of millionaires.

The report also said that the coastal city of Durban where half of the population comprises of Indians had shown the fastest growth in the past year. The posh areas of La Lucia and Umhlanga of Durban has seen a huge influx of Indians in the recent years, and according to the report , these two areas had shown the maximum growth in the country.

Most of the millionaires had attained their status through the financial services, telecoms and healthcare sector.

The recent rise in Indians and other communities is due to Government’s Black Economic Empowerment Programs (BEE), which was implemented in 2003.

BEE gives advantages to previously disempowered communities, which includes Indians and other minority communities. Previously advantaged white South Africans saw a decrease of 13 per cent in millionaires, said an economic advisor.

The report also said that there would be a significant growth of the Indians and other minority communities in the next three years despite economic growth in South Africa being constrained by the current electricity crisis, increasing trade union involvement and a rising level of government regulation.

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Report Claims, As Many As 1 Billion Indians Live in Areas of Water Scarcity

The report also highlighted that India uses the largest amount of groundwater -- 24 per cent of the global total and the country is the third largest exporter of groundwater -- 12 per cent of the global total.

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Global groundwater depletion - where the amount of water taken from aquifers exceeds the amount that is restored naturally - increased by 22 per cent between 2000 and 2010, said the report, adding that India's rate of groundwater depletion increased by 23 per cent during the same period. Pixabay

As many as one billion people in India live in areas of physical water scarcity, of which 600 million are in areas of high to extreme water stress, according to a new report.

Globally, close to four billion people live in water-scarce areas, where, for at least part of the year, demand exceeds supply, said the report by non-profit organisation WaterAid.

This number is expected to go up to five billion by 2050, said the report titled “Beneath the Surface: The State of the World’s Water 2019”, released to mark World Water Day on March 22.

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Pure water droplet. Pixabay

Physical water scarcity is getting worse, exacerbated by growing demand on water resources and and by climate and population changes.

By 2040 it is predicted that 33 countries are likely to face extremely high water stress – including 15 in the Middle East, most of Northern Africa, Pakistan, Turkey, Afghanistan and Spain. Many – including India, China, Southern Africa, USA and Australia – will face high water stress.

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Globally, close to four billion people live in water-scarce areas, where, for at least part of the year, demand exceeds supply, said the report by non-profit organisation WaterAid. Pixabay

Global groundwater depletion – where the amount of water taken from aquifers exceeds the amount that is restored naturally – increased by 22 per cent between 2000 and 2010, said the report, adding that India’s rate of groundwater depletion increased by 23 per cent during the same period.

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The report also highlighted that India uses the largest amount of groundwater — 24 per cent of the global total and the country is the third largest exporter of groundwater — 12 per cent of the global total.

The WaterAid report warned that food and clothing imported by wealthy Western countries are making it harder for many poor and marginalised communities to get a daily clean water supply as high-income countries buy products with considerable “water footprints” – the amount of water used in production — from water-scarce countries. (IANS)