India tops in growth of women ultra HNIs

With 1250 women ultra HNIs, India has witnessed a healthy growth of 16% - the highest growth among all countries during July 2012 to June 2013 - in terms of numberof women ultra HNIs, shows a latest survey called ‘World Ultra Wealth Report-2013’ published by Union Bank of Switzerland (UBS) and Wealth X.The report has attributed this growth to moderate inflation, S&P revision in credit rating of India from negative to stable, GDP growth and slew of reform measures for economic liberalization.

Ultra HNIscan be defined as an individual with a net worth of US $ 30 million after accounting for shares in public and private companies, residential and passion investment such as art, planes and real estate.

The report shows that women ultra HNIs in India have a whooping net worth of $95 billion. However, in terms of wealth growth of women ultra HNIs, India has recorded a moderate increase of 10%.

Meanwhile, the report suggests that India has witnessed a marginal increase of 1.6% in its ultra HNIs population as it grew to 7850 in July 2012-June 2013 compared to 7730 in the corresponding period last year. Similarly, the total wealth of ultra HNIs has grown by 1.1% to $935billion in 2013from $925billion in 2012.

Population and wealth of ultra HNIs according to their wealth band - India

Source – UBS and Wealth X

Some interesting highlights of the report:

·         Indian ultra HNIs donate 10.6% of their net worth

·         More than 50% of ultra HNIs population are based in Mumbai and Delhi

·         About 90% ultra HNIs population are based in top 10 cities

·         India has added 120 ultra HNIs in FY 2012-13, higher than any other BRICS nation.

·       India has 3600 ultra HNIs falling under the wealth band of $30 million to $49 million whereas it has only 103 ultra HNIs having wealth of more than $1 billion.

Ultra HNIs Populations in top-10 cities

Source – UBS and Wealth X