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( LATEST ONLINE NEWS OF INDIA )

Indians account for 1% of global wealth market PDF Print E-mail

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While the names of a number of Indians now figure in the list of the world's richest persons, India accounts for just about one per cent of the worldwide wealth market size of over 100 trillion dollars. According to the latest wealth report by global consultancy major, Boston Consulting Group, the global wealth market grew to 109.5 trillion dollars in 2007, up 4.9 per cent over the previous year. While noting that the wealth market is growing rapidly in India, the report said that the country accounts for only a small fraction of the global market, with a size of 1.4 trillion dollars.

While the names of a number of Indians now figure in the list of the world's richest persons, India accounts for just about one per cent of the worldwide wealth market size of over 100 trillion dollars. According to the latest wealth report by global consultancy major, Boston Consulting Group, the global wealth market grew to 109.5 trillion dollars in 2007, up 4.9 per cent over the previous year. While noting that the wealth market is growing rapidly in India, the report said that the country accounts for only a small fraction of the global market, with a size of 1.4 trillion dollars. BCG has calculated the wealth market size on the basis of Asset Under Management , which includes cash deposits, money market funds, listed securities, and onshore and offshore assets. It excludes wealth attributed to investors' own businesses, houses or luxury goods. Collectively, the 53 Indian billionaires command a net worth of over 340 billion dollars. Besides, there are three resident Indians among the 10 richest persons in the world, according to "Forbes" magazine.

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