Gujarat stands out as one of India’s premier business hubs, having nurtured some of the nation’s leading industrialists. Yet, its wealth isn’t confined to urban centers alone. In Kachchh, the village of Madhapar is the ‘richest village in all of Asia,’ showcasing significant economic prosperity in its own right.
Residents of Madhapar, a village on the outskirts of Bhuj, collectively hold fixed deposits totaling ₹7,000 crore, reflecting their substantial wealth. Predominantly inhabited by the Patel community, the village’s population has grown significantly, reaching approximately 32,000, compared to 17,000 in 2011.
Madhapar boasts 17 banks, including major public and private institutions like HDFC Bank, SBI, PNB, Axis Bank, ICICI Bank, and Union Bank—a notable concentration for a single village. Despite this impressive number, additional banks are keen to establish branches there. The village’s prosperity is largely attributed to its NRI (non-resident Indian) families, who deposit significant amounts annually into local banks and post offices. Out of approximately 20,000 homes in the village, around 1,200 families reside abroad, primarily in African countries.
“Though many villagers live and work abroad, they remain attached to their village and prefer parking their money in the banks here rather than where they live,” said Parulben Kara, former president of the District Panchayat.
The local branch manager of a nationalized bank in the village noted the impact of these deposits: “The huge deposits have made it prosperous. It has all basic facilities like water, sanitation, and road. There are bungalows, both public and private schools, lakes, and temples.”
Despite many residents living abroad, they maintain strong ties to Madhapar. The continuous inflow of funds from NRIs has resulted in substantial economic growth and infrastructural development. The construction businesses in Central Africa are heavily dominated by Gujaratis, with many also residing in the UK, Australia, America, and New Zealand.
The prosperity and unique financial status of Madhapar highlight the influence and commitment of its expatriate community. With extensive deposits and investments flowing into local banks, the village has secured a strong economic standing, reflecting the dedication of its residents.