India's wealth triples in a decade to $3.5 trillion

[nForce]

India's wealth triples in a decade to $3.5 trillion​

MUMBAI: Total wealth in India has tripled over the past decade to $3.5 trillion and could further increase to $6.4 trillion by 2015, says a report on global wealth by investment bank Credit Suisse.

Relative to the rest of the world, the distribution of wealth in India is heavily biased towards the lower end of the wealth pyramid, with the proportion of adults having wealth below $1,000 roughly double the global average, says the report.

At the other end of the scale, a very small proportion of the adult population (0.4%) owns more than $100,000 on average.

“However, this group has been increasing fairly quickly in recent years and the rate of growth is expected to rise in future if India’s economy continues on its current trend,” it said.

India’s economy has grown at an average 8% over the past four years, and is estimated to grow 8.5% this fiscal according to RBI estimates. From a macro perspective, the CS report has found that the global wealth currently held by 4.4 billion adults has increased 72% since 2000 to reach $195 trillion.

The investment bank expects the global wealth to grow 61% to $315 trillion by 2015, driven by robust economic expansion in emerging markets. The middle segment of the wealth pyramid is composed of one billion individuals who are located in the fastest-growing economies of the world and who hold one-sixth or $32 trillion of global wealth.

In total, almost 60%, or 587 million, of individuals in the middle segment of the wealth pyramid are located in Asia-Pacific. China stands out as the third-largest wealth generator in the world, behind US and Japan, and is 35% ahead of the wealthiest European country, France .

Osama Abbasi, chief executive, Asia-Pacific, Credit Suisse , is of the view that Asia-Pacific countries, which now make up the bulk of the world’s middle class of emerging consumers, are driving the growth of the world’s wealth. “China is the third-largest wealth market in the world. Economic expansion in other key markets in Asia-Pacific means that today growth in average household wealth per adult is up to 10 times the global growth rate,” he said.

China stands out as the third-largest wealth generator in the world, with total household wealth of $16.5 trillion, behind only the US ($54.6 trillion) and Japan ($21 trillion). Furthermore, China’s wealth is almost five times that of India’s.

Wealth has also surged in other emerging markets in Asia-Pacific, especially India and Indonesia . While the total wealth of India has tripled in a decade to $3.5 trillion, Indonesia’s has grown five-fold to $1.8 trillion and is expected to grow as impressively taking it to over $3 trillion by 2015.

The report estimates that there are more billionaires in Asia-Pacific than in Europe. At the top of the wealth pyramid, there are over 1,000 billionaires globally, of which 245 are in Asia-Pacific, 230 are in Europe and 500 in North America. Moving down the wealth pyramid, there are 80,000 ultra high net worth individuals (average wealth per adult above $50 million). Of the 24 million other high net worth individuals (average wealth per adult of $1 million to $50 million), just over 800,000 are in China, around 170,000 are in India and over four million are in the rest of Asia-Pacific. Below this, more than 330 million individuals have average wealth per adult of $100,000 to $1 million.

Source

 

[Swift]

Now before anyone starts " what is the fun if 90% of Indians are living under poverty "

 

[devd]

Poverty is not a one day game. what the govt is doing is right to make sure second generation wont suffer from poverty. No solution for current generation. Thats how the business and govt works.

 

[kallu_be]

Western poverty levels are calculated on consumption levels which are flawed especially when comes to Indians who are more interested in saving rather than spending.

 

[nForce]

Western poverty levels are calculated on consumption levels which are flawed especially when comes to Indians who are more interested in saving rather than spending.

Please elaborate........

 

[kallu_be]

"More than 80% of Indians live on less than 2$ a day", which talks about consumption rather than creating wealth. My parents being old fashioned, vegetarians and teetotalers spends on average 2-3$ a day, which makes them near close to poverty line standards set by western economies. But in reality they are not anywhere close to poverty line.

 

[Brotherhood]

"More than 80% of Indians live on less than 2$ a day", which talks about consumption rather than creating wealth. My parents being old fashioned, vegetarians and teetotalers spends on average 2-3$ a day, which makes them near close to poverty line standards set by western economies. But in reality they are not anywhere close to poverty line.

Wake up Indians, before dreaming of triples India's wealth in a decade time, best to start dreaming of stop being at the "top the world's hunger chart once again"
India ranks below China, Pak in global hunger index - The Times of India

 

[Perceptron]

Wake up Indians, before dreaming of triples India's wealth in a decade time, best to start dreaming of stop being at the "top the world's hunger chart once again"
India ranks below China, Pak in global hunger index - The Times of India

Wake up Chinese before being content with your hunger index, and be more concerned when the next regiment of Tanks will be rolling over some poor protester of this abhorrent Commie-regime, and soon people will have another "Great Leap Forward" to kill 35 million more people and feed each other insects and leather belts.

 

[Brotherhood]

Wake up Chinese before being content with your hunger index, and be more concerned when the next regiment of Tanks will be rolling over some poor protester of this abhorrent Commie-regime, and soon people will have another "Great Leap Forward" to kill 35 million more people and feed each other insects and leather belts.

You can keep dreaming of triples India's wealth in a decade, but somehow reality not agreeing with you though.
Wake up, stop living in the past, nobody will give a damn , the reality of "now" is that Indians are starving whether you like it or not and we ain't period.
On a side note, can you shoot your trash with an empty stomach? Congrates again for your accomplishment="Top of the World's Hunger" chart again.

 

[corporate_slave]

You can keep dreaming of triples India's wealth in a decade, but somehow reality not agreeing with you though.
Wake up, stop living in the past, nobody will give a damn , the reality of "now" is that Indians are starving whether you like it or not and we ain't period.
On a side note, can you shoot your trash with an empty stomach? Congrates again for your accomplishment="Top of the World's Hunger" chart again.

India's wealth HAS tripled in a decade. If you had bothered to read the article properly, you'd have realized that it is not 'dreaming'. Please stop flaming threads needlessly, and don't compel others to respond in kind.

 

[Devianz]

Well... looks like Brotherhood is having a field day today. Enjoy the hunger thread

 

[Perceptron]

Wake up, stop living in the past, nobody will give a damn , the reality of "now" is that Indians are starving whether you like it or not and we ain't period.

In 10 years from now, India will be where China is, and the elite Chinese will still be cooking Chinese-chow in the US while the elite Indians will be amongst the Doctors and other high-income group professionals in the US. And FYI, i am pretty well-fed, and well-educated to know a hypocritical Commie from a well-cultured Chinese.

 

[Brotherhood]

Well... looks like Brotherhood is having a field day today. Enjoy the hunger thread

Na, just a poor victim of a new trolling virus named "Perceptron", hopefully this virus will die out soon.

 

[syntax_error]

what is the use of Wealth increasing all over the world. Resources are limited... hence more wealth will drive the cost of ersources higher thats it ... cause the value of money is going down.
And this goes for the entire world.Add on top of that population growth.

say a guy earning 15000/ pm INR hardly lives a better life earning 30000/ pm INR in 2020.

 

[Perceptron]

Na, just a poor victim of a new trolling virus named "Perceptron", hopefully this virus will die out soon.

The problem is there are certain troll-magnets in this forum, that needs to be shown their past and also their hypocrisy when they go around mocking objective facts, and gaining their own sadistic pleasure out of it.

So, if your pleasure is in delighting yourself about Poverty, my pleasure is in showing the Godless Commies their past and telling them that sometimes, even "Saints"(or in this case, the Commie-country called China (CCcC)) have to know their past and how the CCP prevents that from getting out.