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Friday, 19 October 2018

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Number of millionaires grew by 7,300 having assets worth $6 trillion

Number of millionaires grew by 7,300 having assets worth $6 trillion



From July 2017 to June 2018, the number of millionaires in the country increased by 7,300. They have increased to 3.43 lakh. These millionaires have assets worth Rs 444 lakh crores ($ 6 trillion). But, 91% of the country's young population has less than Rs 7.40 lakh ($ 10,000) worth of property. This figure was revealed in Switzerland's financial firm Credit Suisse's Global Wealth report.

Out of the 7,300 millionaires, 34,00 have assets worth more than Rs 370 crore ($ 5 million). The net worth of 1,500 people is more than Rs 740 crore ($ 10 million).According to the report, 91% of Indians' private property is of real estate. By 2023, the number of millionaires in the country will increase by 53% to 5.26 lakh. Their assets are expected to be 8.8 trillion dollars.

According to Credit Suisse, the number of billionaires in India is 18.6% higher than the major countries. The share of women in the country's property is 20-30%.

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