June 16, 2015

"India is home to the fourth largest number of ultra-high-net-worth households that have more than 100 million dollars in private wealth, according to a new report topped by the US."

The Kashmir Monitor The Boston Consulting Group's 'Global Wealth 2015: Winning the Growth Game' report said continued economic expansion of China and India was driving growth in wealth in the Asia- Pacific region.

'The US remains the country with the largest number of ultra-high-net-worth (UHNW) households at 5,201, followed by China (1,037), the UK (1,019), India (928) and Germany (679) in 2014, it said.

'India's UHNW households grew manifold from 2013 when the number stood at 284.

'The private wealth in the Asia-Pacific region expanded by a steep 29 percent in 2014 to reach USD 47 trillion, enabling it to overtake Europe (Eastern and Western Europe combined) to become the world's second-wealthiest region, the report said.

'With a projected USD 57 trillion in 2016, Asia-Pacific (excluding Japan) is expected to surpass North America (a projected USD 56 trillion) as the wealthiest region in the world and will be the largest pool for client acquisition.'

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