Not all is unwell with Indian economy! Despite the economic gloom, thanks to the falling rupee, India boasts of having the highest fraction of ultra high networth women (UHNW) in the world, a no mean feat!
As per the latest wealth report, at 16%, India has more than 1,250 UHNW individuals, with net assets worth $30 million or above and a combined fortune of a whopping $95 billion.
Even with a modest 1.6% population growth, India accumulated more UHNW individuals (120) than any other BRICS nation in the last 1 year.
Of all Indian cities, “Bangalore has the highest percentage increase in the number of UHNW population - increasing from 720 in 2012 to 750 in 2013 - a 4.2% increase in super rich people. It is followed by Chennai which has seen a 4.1% increase in this category - 385 UNHWs in 2013 compared to 370 the previous year. However, in absolute numbers, Mumbai and Delhi account for more than half of the super-rich Indians,” observes Kounteya Sinha, a TOI reporter.
(AW: Suchorita Dutta)
