In a new study conducted by Credit Suisse, a leading financial services company in the USA, wealth in India per adult has grown annually at an average of 11% from 2000-2019 and the estimated wealth for an adult stands at $14,569 as of 2019, after a year of moderate growth.
And as per the study, India stands fifth in terms of the number of ultra-high-net-worth individuals making the total wealth of India a whopping $12.6 trillion, increasing four times more from 2000 till 2019.
The report of the study says that 4,460 adults in India have wealth over $50 million and 1,790 adults have wealth more than $100 million, where personal wealth among the people in India is made up of their household assets like property and other real assets.
And while India 1% of wealth holders constitutes for 1.6% of the wealth holders globally, a larger part of the section does not come under this section. The study suggests that 78% of the adult population in India make less than $10,000 and live in adverse situations and conditions of poverty.
So while there lays a stark difference and disparity in the wealth distribution in India, India wealth is simultaneously expected to grow at a faster rate to $4.4 million in the next 5 years.