India's financial wealth | A close look at key growth figures and how the country stands among peers - Moneycontrol.com
India has been reeling under a second COVID-19 wave, which has adversaly affected the economy. Here are some key growth figures for India, as per a Boston Consulting Group report.
Despite the COVID-19 pandemic, financial wealth in India grew by 11 percent per annum to $3.4 trillion between 2015 and 2020, a new report ‘Global Wealth 2021: When Clients Take the Lead‘, by the Boston Consulting Group (BCG) showed. Here are some key growth figures for India as per the report. (Image: Shutterstock)
Over the next five years, India will likely “significantly expand wealth” to lead percentage growth of fortunes worth $100 million in 2025. (Image: Shutterstock)
Financial wealth in India is expected to grow by 10 percent per annum to $5.5 trillion by 2025. (Image: Moneycontrol)
India represents 6.5 percent of its region’s financial wealth in 2020. (Image: Reuters)
The country also represents 13.7 percent of the region’s real assets – a number which grew by 12.1 percent per annum to $12.4 trillion from 2015-2020. (Source: Shutterstock)
Life insurance and pensions will be the third-largest asset class in the future. (Image: Moneycontrol)
Currency and deposits are the largest asset class and make up 47 percent of total personal wealth in 2020. Bonds are expected to grow the fastest with 15.1 percent p.a. (Image: Moneycontrol)
India’s cross-border wealth is expected to grow 6.3 percent. (Image: Moneycontrol)
Globally, North America, Asia (excluding Japan) and Western Europe will be the leading generators of financial wealth, accounting for 87 percent of new financial wealth growth worldwide between now and 2025. (Image: Moneycontrol)
Asia, which has the largest concentration of wealth in real assets ($84 trillion, 64 percent of the regional total) will see financial asset growth exceed real asset growth (7.9 percent versus 6.7 percent) in coming years. Investment funds in Asia will become the fastest-growing financial asset class, with a projected compound annual growth rate (CAGR) of 11.6 percent through 2025. (Image: Moneycontrol)
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