Gujarat's Madhapar Home to 'Asia's Richest Village' with Rs 7,000 Crore in Savings

New Delhi: Madhapar, a village near Bhuj in Gujarat, stands out as a beacon of prosperity. Dubbed ‘Asia’s Richest Village,’ Madhapar is home to approximately 32,000 people, most of whom are Non-Resident Indians (NRIs). Together, these residents have amassed fixed deposits totaling a staggering ₹7,000 crore.

The financial success of Madhapar is evident in its impressive banking infrastructure, with 17 banks operating within the village, including major players like HDFC Bank, SBI, PNB, Axis Bank, ICICI Bank, and Union Bank. The influx of banks reflects the village’s economic strength, with more financial institutions keen to establish a presence in the area. Beyond its financial assets, Madhapar boasts modern amenities such as well-paved roads, reliable water supply, sanitation facilities, and well-maintained schools. The village is also dotted with bungalows, lakes, and temples, showcasing a level of development rarely seen in rural India.

The primary driver of Madhapar’s wealth is its NRI population, which makes up 65% of the village’s residents. Many of these NRIs have migrated to countries like the United States, Canada, Australia, New Zealand, and Central Africa, where they have found success in various industries, particularly construction. Despite their global presence, these NRIs maintain a strong connection to their roots, choosing to invest their earnings in local banks and post offices in Madhapar.

Former District Panchayat president Parulben Kara highlighted the deep ties that these NRIs have with their homeland, crediting their continuous investments for the village’s extraordinary financial health. Madhapar’s story challenges the conventional view of rural India, proving that villages can achieve remarkable levels of wealth and development.