Sunday, July 15, 2007

India shining

The Economic Times is going 'rah-rah' over India's surge in the number of wealthy individuals. And why not? After all, India (36 billionaires) has already taken over Japan (24 billionaires) as home to the most number of billionaires in Asia. Pretty soon, we'll take over the title of 'home to the maximum number of luxury consumers' as well!

According to the 2007 World Wealth Report by Capgemini and Merrill Lynch, the world has 9.5 million high net worth individuals. Significantly, India has a good share of these rich and famous. The report says that the number of HNWIs in India has increased by 20.5% from 83,000 in 2005 to 100,000 in 2006 — a good piece of statistics to inspire many Indians.

In fact, the performance of the BRIC nations (Brazil, Russia, India and China) has been commendable so far as global wealth creation is concerned. According to the Wealth Report, two of these four countries made their way into the list of the 10 fastest-growing HNWI populations in 2006. China’s HNWI population grew by 7.8% in 2006 against India’s 20.5%.

Take that!

No comments: