The cumulative wealth of Indian individuals is expected to more than double to ₹411.5 lakh crore by 2017-18 from ₹202 lakh crore at present, according to the India Wealth Report published by Karvy Private Wealth.
The beginning of liberalisation reforms in the 1990s saw the wealth held by Indians in financial assets such as fixed deposits and bonds, direct equity, insurance, savings deposits, provident fund and mutual funds grow manifold. Indians currently hold ₹1.1 lakh crore in financial assets which is expected to double to ₹2.3 lakh crore in 2018.
Indians’ physical assets, such as gold, real estate and investments in real estate abroad, which make up about 45 per cent of their total wealth, are expected to be worth ₹1.8 lakh crore in 2018. This does not include their primary residences.
— Compiled by Arvind Jayaraman