According to Hyderabad-based Karvy Private Wealth's report, Individual wealth of Indians has ballooned to Rs 86,50,000 crore in 2010 - 11 from Rs 73,00,000 crore in 2009-10, and this is expected to triple to Rs 2,49,00,000 crore by 2016.
Mr. Sunil Mishra, CEO, Karvy Private Wealth said, “ We have added as much wealth in the last 5 years as we have done in the first 50 years post-IndependenceA combination of continuous reforms and favourable demographics have, in the long run, placed India's GDP firmly on the high-growth path. Add to this the middle-class values of high savings, and we are clearly poised at an inflection point in terms of wealth accumulation,“ .
Highlights of Karvy Private Wealth Report..!
# With present annual household savings of about 34%, which is expected to grow at 8% on an average, India is well poised to lead wealth creation in the global arena.
# The wealth of India's HNIs (High Net-Worth Individuals) has grown 18% compared with a mere 9.7% for global HNIs in the last one year.
# Total estimated global wealth in financial and physical assets with HNIs in December 2010 was $ 42.7 trillion.
# Investments in FDs (Fixed deposits) and bonds, Equity markets and insurance were clear winners among various asset classes where individuals parked their funds for better returns.
# Total investment in FD and bonds by individuals account for 30.95% at Rs. 26,76,878 crore, followed by direct equity investment at Rs. 25,76,317 crore (29.78%), insurance at Rs. 15,25,735 crore (17.64%), savings bank deposits at Rs. 6,16,917 crore (7.13%), small savings at Rs. 5,23,908 crore (6.06%), PF (Provident Fund) at Rs. 4,11,901 crore (4.76%), mutual funds at Rs. 2,88,543 crore (3.34%) and alternative assets at Rs. 29,565 crore (0.34%).
# The wealth report has not included government and institutional holdings and physical assets such as gold and real estate.
# Alternative assets combined with retirement benefit investments such as PF and insurance are poised to grow signifi cantly in the coming years.
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| Mr. Sunil Mishra |
Mr. Sunil Mishra, CEO, Karvy Private Wealth said, “ We have added as much wealth in the last 5 years as we have done in the first 50 years post-IndependenceA combination of continuous reforms and favourable demographics have, in the long run, placed India's GDP firmly on the high-growth path. Add to this the middle-class values of high savings, and we are clearly poised at an inflection point in terms of wealth accumulation,“ .
Highlights of Karvy Private Wealth Report..!
# With present annual household savings of about 34%, which is expected to grow at 8% on an average, India is well poised to lead wealth creation in the global arena.
# The wealth of India's HNIs (High Net-Worth Individuals) has grown 18% compared with a mere 9.7% for global HNIs in the last one year.
# Total estimated global wealth in financial and physical assets with HNIs in December 2010 was $ 42.7 trillion.
# Investments in FDs (Fixed deposits) and bonds, Equity markets and insurance were clear winners among various asset classes where individuals parked their funds for better returns.
# Total investment in FD and bonds by individuals account for 30.95% at Rs. 26,76,878 crore, followed by direct equity investment at Rs. 25,76,317 crore (29.78%), insurance at Rs. 15,25,735 crore (17.64%), savings bank deposits at Rs. 6,16,917 crore (7.13%), small savings at Rs. 5,23,908 crore (6.06%), PF (Provident Fund) at Rs. 4,11,901 crore (4.76%), mutual funds at Rs. 2,88,543 crore (3.34%) and alternative assets at Rs. 29,565 crore (0.34%).
# The wealth report has not included government and institutional holdings and physical assets such as gold and real estate.
# Alternative assets combined with retirement benefit investments such as PF and insurance are poised to grow signifi cantly in the coming years.
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