Mumbai: Hit by adverse currency movements, India's household wealth has fallen by USD 26 billion to USD 3 trillion in the current year, shows the latest report by global financial services major Credit Suisse.
According to the 'Global Wealth Report' compiled by Credit Suisse Research Institute, wealth in the country in dollar terms went down by 0.8 percent (USD 26 billion) to USD 3.099 trillion in 2016 compared to last year. The report noted that while wealth has been rising in India, not everyone has shared in this growth.
"There is still considerable wealth poverty, reflected in the fact that 96 percent of the adult population has wealth below USD 10,000," the report said.
"At the other extreme, a small fraction of the population (0.3 percent of adults) has a net worth over USD 1,00,000," it added, noting that due to India's large population, this translates into 2.4 million people.
As per the report, the country has 2,48,000 adults in the top 1 percent of global wealth holders, a 0.5 percent share.
"By our estimates, 2,260 adults have wealth over USD 50 million, and 1,040 have more than USD 100 million," it added.
sOURCE:-Firstpost
According to the 'Global Wealth Report' compiled by Credit Suisse Research Institute, wealth in the country in dollar terms went down by 0.8 percent (USD 26 billion) to USD 3.099 trillion in 2016 compared to last year. The report noted that while wealth has been rising in India, not everyone has shared in this growth.
"There is still considerable wealth poverty, reflected in the fact that 96 percent of the adult population has wealth below USD 10,000," the report said.
"At the other extreme, a small fraction of the population (0.3 percent of adults) has a net worth over USD 1,00,000," it added, noting that due to India's large population, this translates into 2.4 million people.
As per the report, the country has 2,48,000 adults in the top 1 percent of global wealth holders, a 0.5 percent share.
"By our estimates, 2,260 adults have wealth over USD 50 million, and 1,040 have more than USD 100 million," it added.
sOURCE:-Firstpost