India’s household wealth declined by 0.8% ($26 billion) to $3.099 trillion in 2016 compared with last year, according to Global Wealth Report compiled by Credit Suisse Research Institute.
While wealth has been rising in India, not everyone has shared in this growth.
Over 96% of the adult population has wealth below $10,000. At the other extreme, a small fraction of the population (0.3% of adults) has a net worth over $1,00,000, the report stated.
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The country has 2,48,000 adults in the top 1% of global wealth holders, a 0.5% share. While 2,260 adults have wealth over $50 million, 1,040 have more than $100 million.
The wealth of an average Indian adult fell from $4,350 in mid-2015 to $3,840 in mid-2016.
The wealth of a Chinese adult is nearly six times more than an Indian adult.
While developing economies are likely to outpace the developed world in terms of wealth growth, they will still only account for just under a third of growth over the next five years, according to the report.
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