Financial wealth in India jumps 11% to $3.4 trillion in pandemic year

Published On: Tuesday, June 15, 2021 | By:

Financial wealth in India jumps 11%  to $3.4 trillion in pandemic year

Financial wealth is the total wealth excluding real assets and liabilities held by adult individuals. Financial wealth in India grew 11 percent to USD 3.4 trillion in 2020 despite the coronavirus pandemic, according to a global consultancy estimation published today(15th June 2021). The 11 percent growth in financial wealth was at par with the compounded annual growth rate for the five years to 2020, the report said. It can be noted that after a sharp correction in the early days of the pandemic, there has been a continuing rally in stocks since April last year, which has led to concerns being expressed across quarters. Concerns are also being expressed about a greater disparity in incomes and the pandemic widening the divide. The report noted that the next few years will also see a faster expansion in financial wealth, but the rate of expansion will slow down marginally to 10 percent per annum to take the number to USD 5.5 trillion by 2025.

" The report reveals growth in prosperity and wealth significantly through the crisis and is likely to expand in the next five years," an official statement from the consultancy firm said.

India is expected to lead the percentage growth of individuals with fortunes of over USD 100 million till 2025, it said, adding that the number will almost double to 1,400 in the next five years.

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