Amid grim economic scenario post demo; India is now home to 2.45 lakh millionaires
Amid news reports of jobs losses and sufferings in businesses post demonetization, India is still home to 2.45 lakh millionaires and country’s total household wealth stood at $5 trillion.
This according to a Credit Suisse report which also estimated that number of ultra rich in the country is expected to reach 3.72 lakh.
According to Credit Suisse Global Wealth Report, wealth in India has grown 9.9 per cent per annum since year 2000 and this is faster than the global average of 6 per cent even when taking into account population growth of 2.2 per cent annually.
India’s wealth growth of $451 billion represents the 8th largest wealth gain globally by country.>