This group possesses $11.6 trillion in wealth. India’s total household wealth reaches $19.6 trillion. This population segment controls 59 percent of it.
The richest 1 percent in India invest 60 percent of their wealth. Real estate and gold are their main investments. A report from Bernstein defines this group. It includes Ultra High Net Worth Individuals (UHNI) and High Net Worth Individuals (HNI). They are just 1 percent of Indian families. Still, they control 60 percent of the nation’s wealth.
Serviceable & Non-Serviceable Assets
This wealthy group holds $11.6 trillion. India’s total household wealth is $19.6 trillion. This group controls $11.6 trillion, or 59 percent. Only $2.7 trillion is in usable financial assets. These include mutual funds, stocks, insurance, and bank deposits. The remaining $8.9 trillion is in non-usable assets. This includes gold, cash, promoter equity, and physical property.
Asset Management Potential
Asset management firms can grow their business significantly. India’s rich want to invest beyond gold and real estate. This wealthy group uses formal wealth management services less. Much of their financial wealth remains unmanaged. Bernstein noted that specialized managers handle only 11 percent of India’s liquid financial assets.
India has about 35,000 UHNIs. Their net worth exceeds $12 million. The average wealth for these households is $54 million. This includes $24 million in financial assets.