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7,300 New Indian Millionaires Added in Records in 2017-18
November 12, 2018
According to a Credit Suisse report, in 2017-18, around 7,300 individuals were added to the millionaires club that increased the total number of double-millionaires to 3,43,000. Out of these, around 1,500 have over $100 million worth of wealth. The figure is expected to hit 5,26,000 by 2023 although the depreciation of the rupee against the dollar is seen as a big obstacle.
The report said that the overall household wealth which includes financial wealth and non-financial wealth such as houses rose by just 2.6% this year. In China, it increased by 4.6%.
Photo credit: Dr PS Sahana * Kadamtala Howrah on Visualhunt.com / CC BY
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