2 lakh Indian families worth BSE m-cap of Rs 153 lakh crore: Study

MUMBAI: The selection of super-rich households in India has grown 12 according to cent to nearly 2 lakh in 2017, while their collective net worth grew five according to cent at Rs 153 lakh crore, just about identical to the market capitalisation of all of the corporations indexed on the BSE, a study of ultra high-net worth folks (ultra HNIs) within the country famous.

The selection of ultra HNIs is predicted to greater than double to over three lakh in 5 years while the overall wealth would additionally leap greater than twofold to Rs 352 lakh crore, the study by way of Kotak Wealth Management stated. It estimated the numbers after taking a minimal net worth of Rs 25 crore as the hurdle rate.

The study had global consultancy main EY was once a collaborator. It used data points like India’s GDP growth, financial savings rate, investments in asset categories like stocks, mutual price range, actual property, gold, bank deposit growth, etc, to estimate the numbers. Titled ‘Top of the Pyramid 2017’, it’s the 7th edition of this annual publication.Interestingly, the study famous that Indians were getting wealthier at a more youthful age. “About 60 according to cent of ultra HNIs surveyed for the report are beneath 40 years as against 47 according to cent interviewed within the previous edition,” the report famous. Emergence of a lot of this crowd of younger super-rich is due to circle of relatives inheritance, stated Jaideep Hansraj, CEO, Kotak Wealth Management & Priority Banking.

Speaking about the present market pattern, Hansraj expected traders would prefer to move their investments into debt-market merchandise, as equity markets were “crazy” since the previous fortnight. Talking about traders’ desire for bodily assets, Hansraj stated that he didn't expect traders to return to park their money in gold and actual property. However, traders’ desire for financial assets, which was once boosted by way of the demonetisation in November 2016, would continue, he added.

2 lakh Indian families worth BSE m-cap of Rs 153 lakh crore: Study 2 lakh Indian families worth BSE m-cap of Rs 153 lakh crore: Study Reviewed by kailash soni on February 14, 2018 Rating: 5
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