Indian individuals are expanding their wealth and becoming savvier when it comes to investing it. According to the ninth edition of Karvy Private Wealth’s India Wealth Report, total individual wealth, financial and physical assets, grew 14.02% in FY18 as compared to 11% in the previous year. Moreover, the proportion of financial assets increased to 60.2% in FY18 as compared to 58.48% in FY17.
“Financial assets have grown at a faster pace than last year. A bulk of this comes from equity. Relative to equity, growth in real assets has been slow. We expect this pattern to remain inclined to equities, which will take the proportion of financial assets to 67.98% of total individual wealth by FY23,” said Abhijit Bhave, CEO, Karvy Private Wealth.
