100,000 High Net Worth Individuals in India
According to the second Asia Pacific Wealth report published by Merrill Lynch and Cap Gemini, the number of High Net Worth Individuals (HNIs) in India increased by 20% in 2006 to touch 100,000. About 0.85% of them are Ultra HNIs (people with net worth in excess of US$30M). A majority of the HNIs are in the 41-55 year bracket.
So who is an HNI? The study defines an HNI as someone with net financial assets of at least US$1 Milion (excluding their primary residence).
To put things in context, Asia Pacific is home to just over 27% of the world’s HNI population and India is the second-fastest growing HNI population in Asia Pacific.
Another chak de moment for India….. is it not?