India’s ‘wealthy elite’ are expected to increase by 87% over the next five years: Report

• The number of ‘wealthy elite’ in India expected to rise nearly 87% in the next five years, according to a report titled ‘IIFL Wealth Index 2018’.
• The survey was put through after integrating the interviews of about 500 ‘high networth individuals’ in India — which includes individuals with a personal wealth of ₹65 million and above.
• India’s wealthy have succeeded on their own, and this rich category of people in India is extensively involved in overseas investments for business, property and even for education abroad, said the report. 
• The report demonstrates that the country has 284,100 wealthy individuals accounting to ₹95 trillion of capital. In fact, the figure is likely to grow to ₹188 trillion by 2021.

The number of India’s ‘wealthy elite’ is expected to rise by nearly 87% in the next five years with their combined wealth nearly doubling, according to a report titled ‘IIFL Wealth Index 2018’. 

IIFL Wealth Management in collaboration with Wealth-X has revealed interesting numbers on wealthy people around the world. The report analysed India’s wealth index across three different verticals — ‘Quantum Leap, The Investor Mindset, and Shake up those Assets.’ 

The survey compiled the interviews of about 500 ‘high net-worth individuals’ in India — which includes individuals with a personal wealth of ₹65 million and above. 

Talking of the country’s global presence, India ranks fourth across the world for the number of new wealthy individuals added in the next 5 years after US, Japan and China, said the report. 

Interestingly, India’s wealthy have succeeded on their own, and have plans to invest overseas into business, property and for personal higher education. 

However, one in five HNIs has not chalked out a plan for the future. 

The report demonstrates that the country has 284,100 wealthy individuals accounting to ₹95 trillion of capital. In fact, the figure is likely to grow to ₹188 trillion by 2021. 

Keeping in view the statistics recorded, the report says that the Indian wealth factor has just started to create an impact.