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http://www.yourmoneysite.com/news/2...lass-wealth-share-10-times-that-of-india.html
Mid-2012, India's total net wealth fell by 18%
According to the Credit Suisse's third annual global wealth report 2012, the number of millionaires in India is going to increase by a whopping 53% to touch 84,000 by 2017.
The report also says that India has around 2,37,000 members of the top one percent of global wealth-holders, which sums up to a 0.5% share. However, it adds that between mid-2011 and mid-2012, India's total net wealth fell by 18%. The study observes that rupee declined by more than 20% during the aforementioned period.
However, India's wealth per capita (measured in rupees) has increased slightly, says the study. Nevertheless, the report points out that just 0.3% of the country's population has a net worth of over $100,000. Given India's large population, this low figure translates into 2.3 million people.
Across the emerging markets, India has personal wealth that is more inclination towards property and other real assets, which sums upto 84% of estimated household assets.
India's personal debts stand at $162 per adult and the report says that it suffers from a significant under-reporting of household liabilities, which implies that the personal debt figured may have been underestimated.
While the study states that India will see 53% rise in millionaires seen by 2017, it adds that Brazil will see around 119% rise! On the flip side, high level of poverty exists with 95% of Indians having wealth below $10,000 versus 60% in China, says the study.
As a matter of concern for the India economy, the firm's report says that China's middle class wealth share is 10 times that of India. It explains that India's middle class global wealth share has been stagnant at 3%
As the dollar has been steadily appreciating against other global currencies has resulted in aggregate global household wealth falling by 5.2% in dollar terms to $223 trillion from mid-2011 to mid-2012, says the report.
Total wealth
India: $3.2 trillion
Brazil: $3.3 trillion
US: $62 trillion
China: $20.2 trillion
UK: $12 trillion
Japan: $28 trillion
Mid-2012, India's total net wealth fell by 18%
According to the Credit Suisse's third annual global wealth report 2012, the number of millionaires in India is going to increase by a whopping 53% to touch 84,000 by 2017.
The report also says that India has around 2,37,000 members of the top one percent of global wealth-holders, which sums up to a 0.5% share. However, it adds that between mid-2011 and mid-2012, India's total net wealth fell by 18%. The study observes that rupee declined by more than 20% during the aforementioned period.
However, India's wealth per capita (measured in rupees) has increased slightly, says the study. Nevertheless, the report points out that just 0.3% of the country's population has a net worth of over $100,000. Given India's large population, this low figure translates into 2.3 million people.
Across the emerging markets, India has personal wealth that is more inclination towards property and other real assets, which sums upto 84% of estimated household assets.
India's personal debts stand at $162 per adult and the report says that it suffers from a significant under-reporting of household liabilities, which implies that the personal debt figured may have been underestimated.
While the study states that India will see 53% rise in millionaires seen by 2017, it adds that Brazil will see around 119% rise! On the flip side, high level of poverty exists with 95% of Indians having wealth below $10,000 versus 60% in China, says the study.
As a matter of concern for the India economy, the firm's report says that China's middle class wealth share is 10 times that of India. It explains that India's middle class global wealth share has been stagnant at 3%
As the dollar has been steadily appreciating against other global currencies has resulted in aggregate global household wealth falling by 5.2% in dollar terms to $223 trillion from mid-2011 to mid-2012, says the report.
Total wealth
India: $3.2 trillion
Brazil: $3.3 trillion
US: $62 trillion
China: $20.2 trillion
UK: $12 trillion
Japan: $28 trillion