<p>India has witnessed a significant escalation in both income and wealth inequality since 1990. Previous empirical investigations have predominantly concentrated on the nexus between income inequality and economic growth. However, the impact of wealth inequality on economic growth has garnered minimal scholarly attention. To address this research gap, the present study evaluates the impact of both income and wealth inequality on India’s economic growth using annual data from 1990 to 2023. The study applies the Autoregressive Distributed Lag (ARDL) bounds testing approach to examine cointegration among the variables and to investigate how wealth and income inequality influenced economic growth. We incorporate three pivotal growth determinants, namely gross capital formation as a percentage of GDP, bank credit to the private sector as a percentage of GDP, and annual per capita electricity consumption, as control variables. Findings provide some important insights: First, the ARDL bounds test confirms the presence of a stable long-run equilibrium (cointegrating) relationship among the selected variables. Secondly, the ARDL estimates reveal that growing wealth inequality has a negative and significant impact on India’s economic growth both in the short and long run, whereas economic growth demonstrates a positive and significant association with income inequality . Thirdly, all the control variables, including gross fixed capital formation, bank credit to the domestic sector, and electricity consumption, have a positive and significant impact on economic growth both in the short and long run. These findings carry important policy implications: First, since wealth inequality negatively affects long-run economic growth, the government should adopt progressive wealth redistribution measures such as wealth taxes, inheritance taxes, and taxes on unproductive assets to reduce excessive concentration of wealth. Revenue generated from such taxes should be directed toward productive social and economic investments. Second, the positive contribution of bank credit to growth suggests the need to expand financial inclusion. Policymakers should ensure easier and affordable access to institutional credit for small businesses, rural entrepreneurs, farmers, and micro-enterprises. Strengthening digital banking infrastructure and priority-sector lending can stimulate productive economic activities. Third, since capital formation significantly stimulates growth, greater emphasis should be placed on encouraging both public and private investment, particularly in infrastructure sectors where India continues to face deficiencies. Fourth, electricity consumption has a positive impact on economic growth. India should continue expanding reliable and affordable electricity supply, particularly in rural and underdeveloped regions. Investment in renewable energy, smart grids, and power distribution efficiency can further support sustainable industrial and economic expansion. Overall, the study concludes that reducing excessive wealth concentration, while simultaneously fostering infrastructure investment, expanding private-sector credit, and strengthening energy availability, is crucial for achieving sustainable and inclusive economic growth in India. The robustness of these findings is supported by diagnostic tests, which indicate no evidence of multicollinearity, heteroscedasticity, or non-normality.</p>