Gandhinagar: The state of Gujarat is once again making headlines with news of the extraordinary wealth of Madhapar village. The state has long been a focal point for discussions regarding industrial growth. According to reports in the national media, Madhapar is the wealthiest village not only in Gujarat or India but also in Asia, with residents boasting investments worth Rs 7,000 crore.The Patel community makes up the majority of the population in the village, and non-resident investments are the key to its success. 1,200 of Madhapar’s approximately 20,000 families have relocated abroad. The village’s economy is reportedly significantly boosted by these expats’ annual deposits of crores in local banks and post offices, according to reports.There are a lot of Madhapar natives living in Africa, where Gujaratis dominate the manufacturing sector in Central Africa. The village also has residents from New Zealand, Australia, the United Kingdom, and the United States.Parulben Kara, a former president of the Gram Panchayat, made the observation that many villagers prefer to invest in their hometown rather than in their countries of residence despite living and working abroad.Numerous banks have opened branches in Madhapar as a result of the significant financial inflows into the community. The town is currently home to 17 banks, including significant public and confidential establishments, for example, HDFC Bank, SBI, PNB, Pivot Bank, ICICI Bank, and Association Bank. There are likewise reports that more banks are quick to lay out branches in the town.
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