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The richest 1% in India owns 58% of the country’s wealth, according to the latest edition of not-for-profit Oxfam International’s global inequality report. While new data for China and India indicate that the poorest half of the world owns less than previously estimated, across the world, the scenario is equally grim. Seven out of 10 people live in a country that has seen inequality widen in the last 30 years, according to the report, titled An Economy For The 99 Percent—the latest in a series that began in 2014 and is launched just before the World Economic Forum meetings in Davos every year.