Bombay Shaving Company CEO Highlights Economic Inequality in India with 2,000 Families Controlling 18% of the Nation’s Wealth

Shantanu Deshpande, founder and CEO of Bombay Shaving Company, has brought attention to India’s significant wealth disparity, emphasizing that 2,000 families control 18% of the nation’s wealth while contributing a mere 1.8% in taxes. He described this disparity as “insane” in a recent LinkedIn post, where he reflected on the socioeconomic realities faced by most Indians.

Deshpande acknowledged that he and other successful entrepreneurs have long promoted the “work hard and climb up” narrative. However, he said he recently came to understand that many Indians are compelled to work not out of ambition but due to economic inequality. He noted that financial necessity drives people to work, often under difficult conditions, to support their families. If financial security were guaranteed, Deshpande suggested, a majority of workers would leave their jobs immediately.

The CEO observed that dissatisfaction with work is widespread across all sectors—from blue-collar labor and government employees to gig workers, factory staff, and even startups known for their employee-friendly cultures. He argued that this reality reflects a deep-seated systemic issue that has persisted for over 250 years, shaping how nations and economies have been built.

Deshpande highlighted the struggles of workers who often start with nothing and endure long hours or extended time away from their families to provide for spouses, children, elderly parents, and siblings. He noted that the promise of a paycheck sustains this grueling way of life, which society has come to accept as the norm.

Commenting on wealth concentration, Deshpande reiterated the disproportionate control of national wealth by a small number of families, expressing frustration at their minimal tax contributions. He also reflected on the role of entrepreneurs like himself in perpetuating the “work hard” ideology, acknowledging it as both self-serving and a product of limited alternatives. He added that while 75% of billionaires are self-made, the opportunities for such success remain limited, leaving most people burdened by invisible struggles.

Deshpande concluded by emphasizing the harsh realities faced by many, remarking that despite the weight of their challenges, most people persevere with resilience. Since sharing his insights on LinkedIn, his post has garnered significant attention, accumulating nearly 4,000 views.

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