Number of rich Indians up 12% but collective wealth is up only 5%: Report

Amid concerns on inequality that has been on a steady climb across the globe in general and particularly in India, a study has said the number of the rich has grown at a faster clip than their collective networth in the country in 2017.

The number of ultra-high networth households in the country, which represents those with a networth of over Rs 250 million or more, has grown 12 per cent to over 16 million in 2017, while their collective networth grew only 5 per cent at Rs 153 trillion, said the study.

Findings of the study, commissioned by Kotak