India still has considerable wealth poverty, says Credit Suisse report

India’s wealth has been on a strong upward trajectory since the turn of the century, with the annual growth of wealth per adult averaging at 8 per cent over 2000–18, suggests the latest Credit Suisse Research Institute’s 2018 Global Wealth Report. It pegs India’s total wealth at $6 trillion with a mean wealth of $7,024 per adult in 2018-mid.

However, growth over the years, the report says, has not been evenly spread, as there is still considerable ‘wealth poverty’ reflected in the fact that 91 per cent of the adult population has wealth below $10,000.

“At the other extreme, a