Total wealth in India fell by $594 billion in 2020: Credit Suisse

Our Bureau Mumbai | Updated on June 22, 2021

the number of millionaires in India fell from approximately 7,64,000 to 6,98,000

Total wealth in India fell by $594 billion, or 4.4 per cent, to $12,833 billion at end 2020.

However, wealth per adult was $14,252 in 2020, growing at an average annual rate of 8.8 per cent from 2000 to 2020, versus an average global annual growth rate of 4.8 per cent according to Credit Suisse Research Institute’s Global Wealth report 2021.

India accounts for 1 per cent of the world’s global millionaires. By end 2020, the number of millionaires in India fell from approximately 7,64,000 to 6,98,000, mainly due to currency depreciation. The number of millionaires in India is expected to grow by 81.8 per cent to reach 1.3 million in 2025.

It had approximately 4,320 ultra-high-net-worth adults with net worth exceeding USD 50 million.

Wealth outlook 2020-25

Global wealth is projected to rise by 39 per cent over the next five years, reaching USD 583 trillion by 2025. Low and middle-income countries are responsible for 42 per cent of the growth, although they account for just 33 per cent of current wealth. Wealth per adult is projected to increase by 31 per cent, passing the mark of USD 1,00,000. Unadjusted for inflation, the number of millionaires will also grow markedly over the next five years reaching 84 million, while the number of UHNWIs should reach 3,44,000.

Published on June 22, 2021

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