Wealth Report

This was more than the global average where 4 in every 10 UHNWI saw wealth growth

India, Credit Suisse said, saw a 12 per cent year-on-year (YoY) rise in total household wealth in 2021 to $14,225 billion

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While India had 764,000 dollar-millionaires in 2019 by one account, just 316,000 filed tax returns declaring income of over $75,000. Large-scale I-T evasion may still be taking place, notes T N Ninan

The 11 per cent growth in financial wealth was at par with the compounded annual growth rate for the five years to 2020, the report by BCG said

These households have average saving of Rs 20-lakh per annum and allocate mostly towards physical assets such as primary residential property and automobiles

Forty Indians entered the billionaires' club in the pandemic-stricken 2020 to take the number of those in the coveted list to 177 people, a report said on Tuesday.

Most of the gains came in the last five years, shows Motilal Oswal's annual wealth creation report

On an average, this would give the affluent class Rs 93,000 to live on per month during retirement, which is less than both their current income and wealth aspirations

Geopolitical factors favour rise of the country as a rival centre of power co-existing, competing, and collaborating with other major powers

Compared to a 1.4% rise in global wealth, India has seen a contraction of 0.8%; Indian household wealth is unevenly spread with an average $10,000 falling to the share of 96% of the country's adults

The report noted that while wealth has been rising in India, not everyone has shared in this growth

Key drivers of growth in high-net-worth individuals' assets through 2025 are expected to be India, China and the US