Rich getting richer: 120k Indians hold a third of national income
NEW DELHI: Last year may have been a cruel year for much of the country with slow growth and double-digit food inflation, but India's high net worth individuals (HNWIs) prospered — just over 120,000 in number, or 0.01% of the population, their combined worth is close to one-third of India's Gross National Income (GNI). HNWIs, in this context, are defined as those having investable assets of $1 million or more, excluding primary residence, collectibles, consumables, and consumer durables. According to the 2009 Asia-Pacific Wealth Report, brought out by financial services firms Capgemini and Merrill Lynch Wealth Management, at the peak of the recession in 2008, India<http://timesofindia.indiatimes.com/topic/India>had 84,000 HNWIs with a combined net worth of $310 billion. To put that figure in perspective, it was just under a third of India's market capitalization, that is, the total value of all companies listed on the Bombay Stock Exchange<http://timesofindia.indiatimes.com/topic/Bombay-Stock-Exchange>— as of end-March 2008. The average worth of each HNWI was Rs 16.6 crore. http://articles.timesofindia.indiatimes.com/2010-06-25/india/28296379_1_merrill-lynch-wealth-management-hnwi-population-asia-pacific-wealth-report Thanks & Regards, * Sudhir Srinivasan *B.Arch, MSc.CPM, Dip.ID, Dip.CAD, Dip.PM *|**** Architect**** |***** -- You received this message because you are subscribed to the Google Groups "Green Youth Movement" group. To post to this group, send an 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/greenyouth?hl=en-GB.
