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High net worth individuals in India up 14.6%: Study

Our Bureau

Mumbai , June 10

THE number of high net worth individuals in India has been going up twice the global rate, according to a study by Merrill Lynch and Capgemini.

In India, the number of high net worth individuals (HNWIs) has gone up by 14.6 per cent in 2004 to 70,000 from 2003, according to the 2005 World Wealth Report published by Merrill Lynch and Capgemini.

Globally, the number of HNWIs grew by 7.3 per cent to 8.3 million, an increase of 6,00,000.

The report classifies HNWIs as individuals with a networth of at least $1 million, excluding their primary residence.

India was one of the high growth areas in 2004 and around 9,000 more people joined the elite list in 2004, said Mr Raj Sehgal, Merill Lynch Global Private Client's Country Head for India and Global NRI Manager.

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High net worth individuals in India up 14.6%: Study

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