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LATEST NEWS UPDATES | Over 75% of Indians have personal wealth below $10,000: Report

Over 75% of Indians have personal wealth below $10,000: Report

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published Published on Oct 22, 2019   modified Modified on Oct 22, 2019
-The Indian Express

The average wealth of Indians in mid-2019 has more than doubled from last year and is estimated at $14,569. In 2018, the average wealth of Indians was $7,020. If seen from the perspective of the decade, from 2000 to 2019, wealth per adult grew by an average of 11 per cent annually.

Although India ranks fifth globally in terms of the ultra-rich population — those with wealth in excess of $50 million — 78 per cent of the adult population have personal wealth less than $10,000 or about Rs 7,30,000, according to the latest Credit Suisse report on global wealth. The numbers look better as compared to last year, where about 91% were at the bottom of the pyramid with personal wealth of less than $10,000.

Interestingly, only a small fraction of the population — 1.8% of adults or 15.6 million people — enjoy a net worth of $1,00,000 and continue to own a lion’s share of India’s total wealth that increased four-fold between 2000 and 2019, reaching $12.6 trillion this year.

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The Indian Express, 21 October, 2019, https://indianexpress.com/article/india/india-personal-wealth-richest-millionaires-report-6080333/?fbclid=IwAR0iAoP0oOw1XE89iCE6AggsupTzRTB4AWymKq_H0bhkYMvsR_4bQF


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