World Wealth Report 2024 | 10 Jun 2024
India's high net-worth individuals (HNWIs) increased by 12.2% in 2023 as compared to 2022, according to the Capgemini World Wealth Report. There are now 3.589 million HNWIs in the country.
- The financial wealth of India's HNWIs increased by 12.4% in 2023 to USD 1,445.7 billion, up from USD 1,286.7 billion in 2022.
- Globally, HNWI wealth and population rose by 4.7% and 5.1% in 2023.
- In 2023, India's:
- Unemployment rate dropped from 7% in 2022 to 3.1% in 2023, alongside a 7.3% economic growth.
- Market capitalisation surged by 29.0%, compared to a 6% increase in 2022.
- National savings as a percentage of GDP rose from 29.9% in 2022 to 33.4% in 2023.
- HNWI are individuals with investable assets of USD 1 million or more, excluding their primary residence, collectables, consumables, and consumer durables.