Indian Rich

Indian Rich- World Wealth Report 2010

1. India now has 126,700 HNWIs, an increase of more than 50% over the 2008 number. HNWIs, in this context, are defined as those having investable assets of $1 million or more, excluding primary residence, collectibles, consumables, and consumer durables.

2. Just over 120,000 in number, or 0.01% of the population, their combined worth is close to one-third of India's Gross National Income (GNI).

3. At the peak of the recession in 2008, India had 84,000 HNWIs with a combined net worth of $310 billion.

4. It would take an average urban Indian 2,238 years, based on the monthly per capita expenditure estimates in the 2007-8 National Sample Survey, to achieve a net worth equal to that of the average HNWI. And that's assuming that this average urban Indian just accumulates all his income without consuming anything.

5. A similar calculation shows that an average rural Indian would have to wait a fair bit longer — 3,814 years!

6. The HNWI population in India is also expected to be more than three times its 2008 size by the year 2018.

7. An estimated 13.6 million more people in India became poor or remained in poverty than would have been the case had the 2008 growth rates continued, according to the United Nations Department of Economic and Social Affairs (UNDESA).

8. The wealth is being spent on passion, art and luxury collection, which has increased from 27 per cent to 30 per cent.