High Net Worth Individual (HNWI) population in India grew by 19.3% at the end of 2005, compared to the previous year. The 83,000 HNWIs (as estimated at the end of 2005) in India, account for 3.8% of the total Asia-Pacific HNWI wealth. The growth rate of the HNWI population in India is the second highest among all the countries and markets globally, according to the first Asia-Pacific wealth report published by Merrill Lynch and Capgemini. Indian High Net Worth Individuals currently share the fourth highest average net worth in Asia, with South Korea, at USD 3.5 million per person.

 

People with net financial assets of at least a million USD, which excludes their primary residence and consumables, are considered to the High Net Worth Individuals. This exponential growth in the HNWI population in India is attributed to the strong performance of the domestic stock markets in the year 2005. Apart from this robust economic conditions and an impressive GDP growth rate supported by the strong performance of the Industrial and Service sectors, helped in the growth of the HNWI population in this country.

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