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Gujarat home to Asia's richest village, villagers hold rs 7,000 crore in fixed deposits
Story by India Today Information Desk
Gujarat home to Asia's richest village, villagers hold rs 7,000 crore in fixed deposits
Bhuj's Madhapur, a small village in Gujarat, has an unbelievable title -- it is Asia's wealthiest village. With a population of just 32,000, it has fixed deposits of over rs 7,000 crore, a record the Indian government has acknowledged.
The success of Madhapur is rooted in its NRI base, which comprises 65% of the population. These non-resident Indians, who are primarily based in Africa, the US, UK, Canada, Australia, and New Zealand, keep pumping huge sums of money into their origins.
The money made in Madhapur is not idle in bank accounts. It has turned the village into a model of development. The money has facilitated the building of well-laid roads, lakes, schools, colleges, health centres, and temples.
The investments made by the NRIs have made Madhapur a money hub, which has caught the eye of public and private sector banks. Currently, 17 major banks -- SBI, HDFC, ICICI, PNB, and others -- have their branches here, with a couple more in the process of opening branches.
WHAT DO VILLAGERS THINK?
The villagers, although they are scattered all over the world. They donate money for infrastructure development so that Madhapur develops along with its people.Surprisingly, the major share of riches comes from NRIs in Africa working in the construction sector. Their remittances, flowing back with unstinting allegiance, continue pouring funds into the economy of the village.
"Madhapur is where it is today because we never forget where we started," the villagers boast. "Our men may make their living abroad, but their hearts remain here. They send back money, not just for themselves and their families but to pay for schools, hospitals, and roads for everyone."
For Madhapur, money is not in the bank accounts -- it's in making a better life. "Look around," says one of the villagers, gesturing out with his arm towards the well-surfaced roads and large houses. "This isn't a village. This is our dream, and it was built by those who left but never left."
With deep bonds and a deep sense of belonging, Madhapur is not just a placeĂąit's a promise kept generation after generation.
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