News From Press India’s individual wealth may grow at a CAGR of 12.9% over next 5 years

India’s individual wealth may grow at a CAGR of 12.9% over next 5 years

Source: Mint Dec 23, 2016

In financial year (FY) 2015-16, total wealth held by individuals in India has grown by 8.5% to Rs304 trillion and is likely to grow to Rs558 trillion at a compounded annual growth rate (CAGR) of 12.90% over the next 5 years, according to the recently launched seventh edition of ‘India Wealth Report 2016’ by Karvy Private Wealth, the wealth management arm of financial services provider Karvy Group.

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