• Coming Soon..
  • Coming Soon..
  • Coming Soon..
  • Coming Soon..

India to be the 11th wealthiest(October 11, 2018)

2 months ago 0 comments

Personal wealth may rise to $5 tn by 2022

India’s personal financial wealth, currently estimated to be about $3 trillion, is expected to grow to $5 trillion by 2022 making India the 11th wealthiest nation, according to a report from the Boston Consultancy Group (BCG).

According to the report, India is currently the fifth largest Asian market in terms of number of affluent, high net worth and ultra high net worth individuals. The total number of such individuals was pegged at 4.13 lakh in 2017.

Ultra high net worth

While wealth in excess of $100 million was categorised as ultra high net worth, that in the range of $1 million and $100 million was put in the category of high net worth. Affluent referred to an individual with wealth between $2,50,000 and $1 million. Interestingly, almost 70% of India’s personal financial wealth was in liquid assets such as equities, currencies and bonds.

Meanwhile, global personal financial wealth rose 12% in 2017 to $201.9 trillion in dollar terms, which was roughly 2.5 times the word’s gross domestic product for the year at $81 trillion.

According to BCG, it was the highest annual growth rate in the past five years and was largely driven by bull market environment in all major economies and significant strengthening of most major currencies against the dollar. Incidentally, the bull market led to the wealth in equities and investment funds showing the strongest growth.

Investible assets

Further, in terms of asset classes, almost 60% or $121.6 trillion of the global wealth was in the form of investible assets such as equities, investment funds, currency, deposits and bonds with the remaining 40% or $80.3 trillion in low-liquidity assets such as life insurance, pension funds and equity in unlisted companies. “The overall growth of global personal wealth continued its momentum in 2017. “Residents of North America held over 40% of global personal wealth, followed by residents of western Europe with 22%. The strongest region of growth was Asia, which posted a 19% increase,” said the report

Source – The Hindu

Facts

We work hard day and night to help you succeed.

13,324,140

Total Visitors

100

Books Published

1,85,700

Total Selections

2,500,000

Total Tests Taken