Nearly 3.4 lakh Indians are among the top 1% of the world’s richest, according to a Credit Suisse report published on Tuesday. The study also found that 92% of the adult population in India has assets worth less than $10,000 (around Rs 6 lakh) as of November 2017.
India is home to 2.45 lakh millionaires, and the total household wealth of the country stands at $5 trillion (around Rs 327 lakh crore). The number of ultra rich is likely to reach 3.72 lakh by 2022, and the total household income is expected to grow 7.5% annually to touch $7.1 trillion (around Rs 464 lakh crore).
According to the eighth edition of the Global Wealth Report, wealth in India has grown 9.9% annually since 2000, which is faster than the global average of 6%. The report said global wealth in 2017 rose at a rate of 6.4%, the fastest pace since 2012, and reached $280 trillion (approximately Rs 18,289 lakh crore).
This year, Switzerland turned out to be the richest nation with $537,600 wealth per adult. Australia came in second with $402,600, and the United States third with $388,000.