HOW MANY PEOPLE IN INDIA ARE RICH IN 2016?

Every October, Credit Suisse publishes the global wealth report.
This year, they have published the REPORT in November.

For last few years, we are sharing some interesting data points from the above report.

For the purpose of the report, they have taken into account only adult population.

For dollar to rupee conversion, the rate assumed is 1 USD = Rs.68.

A country is considered rich, if the average wealth per person is over $100,000 (Rs.68 lakhs).

The richest country in the world is Switzerland with average wealth per person of $562,000 (Rs.3.82 crores).Switzerland is the only country in the world where the average wealth per person has crossed half a million dollars.

The top ten richest countries in the world are Belgium, Denmark, Norway, Singapore, Sweden, Switzerland, Australia, France, UK and USA.

The average net worth of an individual in the world is $52,800 (Rs.36 lakhs).

73.2% of the world population has wealth less than $10,000 (Rs.6.8 lakhs).

18.5% of the world population has wealth between $10,000 (Rs.6.8 lakhs) to $100,000 (Rs.68 lakhs).

7.5% of the world population has wealth between $100,000 (Rs.68 lakhs) to $1 million (Rs.6.8 crores).

0.7% of the world population has wealth more than$1 million (Rs.6.8 crores).

The top 1% of the population owns 50% of the total assets.

The top 10% of the population owns 89% of the total assets.

If you’ve wealth of $744,400 (Rs.5.06 crores), you’re among the wealthiest 1% of the world.

Wealth of $71,600 (Rs.48.7 lakhs) would put you among top 10% of the world population.

If you’ve wealth of $2220 (Rs.1.51 lakhs), you’re among the wealthiest 50% of the world.

We are a very poor country and we all know it.

96% of the population in India has wealth below $10,000 (Rs.6.8 lakhs).

3% of the country is classified as middle class having wealth above $13,700 (Rs.9.3 lakhs).

0.3% of our population is worth above $100,000 (Rs.68 lakhs).

There are 1.78 lakh people who are worth above $1 million (Rs.6.8 crores).

There are 2260 people who have above $50 million (Rs.340 crores).

There are 1040 people who have above $100 million (Rs.680 crores).

Total wealth of the country is $3 trillion predominantly in real estate and gold.

The average wealth per individual is $3835 (Rs.2.61 lakhs) and the median wealth is $608 (Rs.41,344).

Median wealth means that half of our population has less than Rs.41,000 as wealth.

We’ve a very long way to go even to become a middle income country.

Let us hope it happens in next 2 decades.

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