Total wealth in India increased fourfold between 2000 and 2019, reaching $12.6 trillion in 2019, making India the fifth globally in terms of the number of ultra-high net-worth individuals, as per a Credit Suisse study. According to the study, the wealth per adult in India grew by an average of 11% annually over the period 2000–2019 and the wealth per adult is estimated at $14,569 in mid-2019 after a year of moderate growth. Incidentally, while India has 8.27 lakh adults in the top 1% of global wealth holders – 1.6% share of the global pool — it is estimated that India has 4,460 adults with wealth of over $50 million and 1,790 that have more than $100 million. “While wealth has been rising in India, not everyone has shared in this growth. Meanwhile, as per the financial major, India is expected to grow its wealth very rapidly and add $4.4 trillion in just five years, reflecting an increase of 43%.

Source: The Hindu October 21, 2019 17:03 UTC