Allianz SE's global wealth report that analysed wealth and debt dynamics of private households in 50 countries, financial assets of India have risen to ¤989 billion in 2010, representing a high velocity 33.7% growth, not seen in any other countries.
Highlights of global wealth report..!
* India in 2010 displaced Romania from the numero uno spot (in terms of growth) which grew the fastest in the year before (31.5%).
* India's 2010 growth was faster than its own 23% run rate in 2009.
* The group of 50 countries studied by Allianz covers nearly 90% of global GDP and 68% of the world population. Financial assets fall in 3 major asset classes, Bank Deposits, Insurance policies/Pensions and Securities.
* India is followed closely by Argentina (32.1%) while others like Ukraine (29.7%), Russia (29%), Colombia and Indonesia (both 23.8%) and Romania (21.6%) also showed robust growth in 2010.
* Our neighbour country China, that ended 2010 with financial assets logged 18.6 per cent growth.
* Brazil, that is ranked 15th largest nation with financial assets, registered a growth of 14.4% as it ended 2010.
* The assets of USA grew 7.2% in 2010, US grew by 6.8% in 2009.
* Japan (which accounts for about 15% of world share) saw its own financial assets falling marginally by 0.2%. In 2009, Japan had managed to show 2.3% growth.
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