India is not only the world’s largest democracy; its economy has been expanding faster than China’s. This has given rise to a new billionaire class in India. The country’s top 1% own nearly 60% of the wealth. Meanwhile, about 65 million of India’s 1.3 billion citizens live in slums. James Crabtree examines this disparity in his new book, The Billionaire Raj: A Journey Through India’s New Gilded Age. Crabtree , an associate professor of practice at the National University of Singapore and former Mumbai bureau chief for The Financial Times , joined the Knowledge at Wharton radio show on Sirius XM to discuss India’s shifting socioeconomics. (Listen to the podcast using the player above). An edited transcript of the conversation follows. Knowledge at Wharton: What is causing this widening inequality gap in India? James Crabtree: India’s economy has grown very quickly of late to become the world’s fastest-growing economy. This has moved a lot of people out of poverty, and all of that is a good thing.…