A recent study on wealthy by Capgemini titled ‘World Wealth Report 2017’ has revealed that India is among the fastest growing HNIs countries in the world.
HNI population in India has increased to 2.19 lakh in 2016 from 2 lakh in 2015, a growth of 10% in just a year. In 2007, India had 1.52 lakh HNIs. This reflects a growth of 44% in 9 years.
Though India does not make it to the top 10 countries, it overtakes countries like South Korea, Russia, Saudi Arabia and Spain in terms of number of HNIs.
On investment pattern, the report found that Indian HNIs have increased their exposure to equities followed by real estate and alternative investments. Also, when asked how would they like to interact with their wealth manager, respondents preferred a fully automated process with minimal human interaction in India.
Source: Capgemini report
Estimating the future of the global HNI market, the report said, “The world is still on its way to reaching more than USD 100 trillion in HNI wealth by 2025, thanks to strong HNI wealth growth of 8.2% in 2016. In fact, global HNI wealth is now expected to expand by a CAGR of 5.9% by 2025 to reach USD 106 trillion.”
