Since 2000, wealth in India has grown 9.9% per annum, faster than the global average of 6% even when taking into account population growth of 2.2% annually, according to Credit Suisse Global Wealth Report. Photo: ReutersNew Delhi: India’s total household wealth stood at $5 trillion while the country is home to 2,45,000 millionaires, says a Credit Suisse report. Moreover, India’s wealth growth of $451 billion represents the 8th largest wealth gain globally by country. According to the report, personal wealth in India is dominated by property and other real assets, which make up 86% of estimated household assets. According to the eighth edition of the Global Wealth Report, in the year to mid-2017, total global wealth rose at a rate of 6.4%, the fastest pace since 2012 and reached $280 trillion.

Source: Mint November 14, 2017 14:26 UTC