India’s wealthy may almost double their assets over the next five years, as the world’s third- fastest growing major economy boosts the country’s rich, Credit Suisse Group AG said in its global wealth report.
While India’s wealth may rise 83 percent to $6.4 trillion by 2015, only 0.4 percent of the nation’s adult population has more than $100,000, the report showed. If the country’s economy continues on its current trend, the rate of growth of this elite group is expected to rise, Credit Suisse said. The International Monetary Fund <http://www.imf.org/> raised its 2010 economic growth forecast for India<http://www.bloomberg.com/apps/quote?ticker=INGDPY:IND>, citing strengthening local consumer demand. The South Asian nation’s economy will expand 9.7 percent this year, the Washington-based lender said in its World Economic Outlook on Oct. 6, more than the 9.4 percent the IMF estimated in July. The fund maintained its 2011 prediction for India’s growth at 8.4 percent. The proportion of Indian adults having wealth below $1,000 is roughly double the global average, the report showed. Wealth is defined as the value of financial assets and non-financial assets, primarily real estate, minus household debt. China generates wealth at five times the pace of India, Credit Suisse<http://www.bloomberg.com/apps/quote?ticker=CSGN:VX> said. Total household wealth in China could more than double to $35 trillion by 2015, outstripping Japan to become the second highest in the world after the U.S., the report showed. Link :- https://www.credit-suisse.com/news/en/media_release.jsp?ns=41610 -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
