Gujarat is one of India's premier business hubs, known for producing some of the country’s top industrialists. However, the state’s prosperity isn’t confined to its cities.
Madhapar, a village in Kachchh, is recognized as the ‘richest village in all of Asia,’ where economic success rivals that of urban areas.
Located on the outskirts of Bhuj, the residents of Madhapar collectively hold fixed deposits worth ₹7,000 crore, showcasing their remarkable wealth.
The village is predominantly inhabited by the Patel community and has seen its population grow to around 32,000, up from 17,000 in 2011.
Madhapar is home to 17 banks, including major public and private institutions such as HDFC Bank, SBI, PNB, Axis Bank, ICICI Bank, and Union Bank. This concentration of banks is highly unusual for a single village, yet more banks are still eager to establish branches here.
The key to Madhapar's prosperity lies in its NRI (Non-Resident Indian) families, who deposit crores of rupees annually in local banks and post offices.
The village boasts nearly 20,000 houses, with around 1,200 families living abroad, primarily in African countries.
Gujaratis, who dominate the construction business in Central Africa, are a significant part of the expatriate population in the region. Many also reside in the UK, Australia, the United States, and New Zealand.
Despite living and working abroad, many villagers maintain strong ties to Madhapar and prefer to deposit their money in local banks rather than in the countries where they reside, according to Parulben Kara, former president of the District Panchayat.
A local branch manager of a nationalized bank in the village noted that these substantial deposits have fueled the village’s prosperity. Madhapar enjoys all basic amenities such as water, sanitation, and well-maintained roads.
The village features bungalows, both public and private schools, lakes, and temples, contributing to its overall development.
Courtesy: NDTV
