Indias Ultra High Net Worth Individual (UHNWI) population is expected to reach 2.80 lakh by 2021 from the current 1.78 lakh, according to Credit Suisse Global Wealth Report 2016.
As on 2016, there are 32.9 million millionaires globally and this number is expected to grow to 45.1 million in 2021.
By 2021, the number of global UHNW population is expected to exceed 32 lakh, more than half of whom will reside in North America. Countries in the Asia-Pacific region, including China and India, currently host more than 32,000 UHNW individuals (against nearly 30,000 living in Europe). This difference in favour of Asia Pacific countries will increase further, and by 2021 the region is expected to add another 17,000 UHNW individuals to reach a total of nearly 49,000.
The report also states that while wealth has been rising in India, not everyone has shared this growth. There is still considerable poverty, reflected in the fact that 96% of the adult population has wealth below $ 10,000.
Methodology: The survey was carried across 42 countries. The research comprises of two components of wealth financial and non-financial separately, but by using the same inputs (GDP and inflation) from the IMFs latest World Economic Outlook database
