According to a report, the number of High Networth Individuals (HNIs) has gone up by 23 per cent in India. The report further said that the combined wealth of the HNIs has increased to $440 billion until 2007. The rapid expansion of economy, increased foreign investment, increase in the savings rates and gains on the country’s stock markets are the prime factors responsible for increase in the number of Indian HNIs. As of December 2007, HNIs in India have investible surplus of more than $1million.
The number of HNIs in the Asia Pacific region has increased to 2.8 million during this period. It is an increase of 8.7 per cent compared to the global growth rate of six per cent. Despite dislocations in developed markets, the number of HNIs in India grew at a faster rate than the global average. The domestic demand and Asia’s appetite for commodities would continue to drive wealth accumulation in India.
India’s rich are growing and that is good for India, APAC and world as a whole.
What do you think?
The number of HNIs in the Asia Pacific region has increased to 2.8 million during this period. It is an increase of 8.7 per cent compared to the global growth rate of six per cent. Despite dislocations in developed markets, the number of HNIs in India grew at a faster rate than the global average. The domestic demand and Asia’s appetite for commodities would continue to drive wealth accumulation in India.
India’s rich are growing and that is good for India, APAC and world as a whole.
What do you think?
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