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The Bernstein report also suggests that India’s total household wealth is estimated at $19.6 trillion, out of which $11.6 trillion, or 59% is held by this wealthy segment of the population.
1% of Uber-Rich Indians hold 60% of wealth. (Fle Image)
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In a glaring example of the rich-poor divide getting widened, the top 1% of uber-rich people in India have about 60% of the total wealth of the country. The uber-rich, or the wealthiest people, include Ultra High Net Worth Individuals (UHNI), High Net Worth Individuals (HNI), and the Affluent class. According to a report prepared by the US-based wealth management firm Bernstein, the uber-rich segment holds $11.6 trillion in total wealth and 70% of India’s financial assets.
General Bernstein Report
The Bernstein report also suggests that India’s total household wealth is estimated at $19.6 trillion, out of which $11.6 trillion, or 59%, is held by this wealthy segment of the population. Out of this, only $2.7 trillion is invested in serviceable financial assets that can be actively managed or reallocated, such as mutual funds, equities, insurance, and bank or government deposits. The remaining $8.9 trillion is held in non-serviceable assets, including gold, cash holdings, promoter equity, and physical real estate, according to the report.
General 35,000 UHNIs hold $4.5 trillion
There are approximately 35,000 UHNI households whose net worth surpassed $12 million or Rs 100 crore. These households have an average asset value of $54 million, or Rs 472.5 crore, including $24 million (Rs 210 crore) in financial assets. According to the report, this affluent segment collectively held $4.5 trillion in financial assets, which amounts to 70% of the country’s total financial wealth.
(With inputs from IANS.)
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