The number of millionaires in the country is expected to jump over 66% at 3.02 lakh by 2018, even as 94% of India's population has wealth below $10,000, according to a global wealth report.
At present, the country has 1.82 lakh millionaires, Credit Suisse Research Institute said in its fourth Annual Global Wealth Report 2013 released here today.
"As the world's largest democracy with a strong federal structure and vibrant markets, Indian wealth has seen rapid growth since 2000. Wealth per adult has risen by 135% from $2000 in 2000 to $4,700 in 2013 at an average annual rate of 8%," Credit Suisse head of India equity research, Toral Munshi said.
At present, the country has 1.82 lakh millionaires, Credit Suisse Research Institute said in its fourth Annual Global Wealth Report 2013 released here today.
"As the world's largest democracy with a strong federal structure and vibrant markets, Indian wealth has seen rapid growth since 2000. Wealth per adult has risen by 135% from $2000 in 2000 to $4,700 in 2013 at an average annual rate of 8%," Credit Suisse head of India equity research, Toral Munshi said.
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