3.4 lakh In­di­ans among top 1% global rich, says wealth re­port

Hindustan Times (Bathinda) - - NATION -

LONDON: In­dia has 340,000 peo­ple in the top 1% of global wealth hold­ers ac­count­ing for a 0.7% share, in­clud­ing 1,820 with wealth over $50 mil­lion and 760 hav­ing more than $100 mil­lion, ac­cord­ing to a new global wealth re­port re­leased Tues­day.

The Zurich-based fi­nan­cial ser­vices ma­jor Credit Suisse es­ti­mates there could be 370,000 mil­lion­aires in In­dia in 2022.

Since the fi­nan­cial cri­sis broke in 2008, the re­port says global wealth has grown by 27%. In the 12 months to mid-2017, it grew at a faster pace than in re­cent years, with mean wealth per adult reach­ing a record high.

“The United States con­tin­ued its un­bro­ken spell of gains since the fi­nan­cial cri­sis, bol­stered by strong mar­ket con­di­tions.

It added $8.5 tril­lion to the stock of global wealth, which is half of the wealth gen­er­ated glob­ally over the 12 months to mid2017.”

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