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91% of India's adult population has wealth below Rs 730,000: Credit Suisse

Wealth inequality in India stark compared to US, China

Wealth, Wealthy, rich
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ILLustration: Ajay Mohanty

Samie Modak Mumbai
The latest global wealth study by Credit Suisse highlights the lopsided growth in India, the world’s fastest-growing major economy. While the country ranks sixth globally in terms of the ultra-rich population — those with wealth in excess of $50 million — it is also one of the highest contributors to the world’s adult population with base-tier wealth (less than $10,000, or about Rs 730,000).

More than 90 per cent of India’s population belongs to the base tier when it comes to the distribution of wealth. In comparison, a third of China and only 28.4 per cent of the US’ adult

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First Published: Oct 18 2018 | 11:45 PM IST

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