What is "bollygarch"

A Bollygarch (a portmanteau of Bollywood and oligarch) is a multimillionaire Indian businessman or women who, like their Russian counterparts, wields significant influence over the social and political agenda through big business and some philanthropic work. The name is believed to have been coined by the Ministry of Overseas Indian Affairs based in Chanakyapuri.

The influence of Bollygarchs is becoming increasingly multinational and many of them are choosing to relocate to London, England. Although India itself is moving fast there is still little access to sophisticated capital markets, therefore the entrepreneurs in question are migrating to London where their spending power is credited with propping up the UK housing market in recent years, among other things.