Individual wealth to treble by FY16 to Rs 249 trillion

Wealth of individual Indians are set to login to be added 23 percent annual growth rate over the next four years, and touch a staggering Rs 249 trillion, the report says Karvy Private Wealth.

Noting that the individual's well-being of the country have risen steadily since the last few years, the report says the growth rate to outshine the rest of the world and treble 2016.Rikkalikult Indians Rs 73 lakh crore has been growing (one trillion) last year, now estimated at Rs 86.5 trillion.

"Wealth of India, individuals have increased by over 18 percent compared to only 9.7 percent of global high-networth individuals lasts for one year," the report says, adding that the growth was led by the fixed deposits, insurance, equity and alternative assets.

"At a CAGR of 23 percent over the next four years, the combined wealth of individuals touch the Rs 249 trillion by FY2016 State," Karvy Group managing director and head of agency, asset management, asset management, abs Hrishikesh Parandekar said here today while releasing the second edition of its report on the wealth of India. According to the report of an individual's wealth touch Rs 1.0687E+14 FY12, FY13 by the RS 132 trillion, 163 trillion by the RS FY14, and FY15 by Rs 2.0129E+14 2.4862E+14 RS by FY16.

Karvy Private Wealth is the wealth management arm of financial services firm Karvy Group. This report is a combined wealth of all people in the country and not just Richie Rich and also does not include the government, and institutional shareholding and assets like gold and real estate.

"We are poised for a clear inflection point in terms of wealth accumulation. In other words, we have added so much richness in the last five years, we have made the first 50 years of independence," Karvy Private Wealth CEO Sunil Mishra said.

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