The rise of startups and a thriving entrepreneurial culture in Tier-II and Tier-III cities is contributing to the increasing sales of high-end cars.
More Indians renounced their citizenship and took citizenship in other countries in 2022 than ever before, according to data. Answering multiple questions in Parliament - the last on March 31 this year - Minister of State for External Affairs V Muraleedharan told the Lok Sabha that more than 200,000 Indians gave up Indian citizenship in 2022. The question was asked by Congress Members of Parliament Kodikunnil Suresh and M K Raghavan, and All India Majlis-e-Ittehadul Muslimeen chief Asaduddin Owaisi.
The top four countries account for 60.3% of the total worldwide HNWI population.
A well-developed banking system and stock market was also a factor as it encourages the people to invest their money.
Overall financial wealth of high net worth individuals fell across all regions in 2011.
India is among the top five Asia Pacific countries in terms of total private wealth held, but at the bottom in terms of per capita income.
Emerging Asia - China, India, Indonesia and Thailand - is fast becoming the main engine of growth in the Asia-Pacific region.
India's population of high net worth individuals shrunk 31.6 per cent in 2008, reversing a seven-year rising trend, a DSP Merrill Lynch and Capgemini report said on Thursday.
Meanwhile, family businesses in India still see banks as their chief source of funding as nine out of 10 respondents were upbeat about bank financing.
With hopes of economic recovery gaining momentum, the wealth of high net-worth individuals across the world are likely to touch a whopping $48.5 trillion by the year 2013, a survey says.
Strong economic growth has made Asia home to some of the fastest-growing markets in terms of high net worth individuals, occupying five of the top 10 spots globally.
India has the potential to become the fourth largest economy by 2025 and the third largest by 2050, behind only US and China, says the 2006 World Wealth Report published by Merrill Lynch and Capgemini.
Switzerland remains the 'biggest private banking financial centres for cross border wealth management' with assets worth over CHF 2.11 trillion ($2.2 trillion), as per the study conducted by the Swiss Bankers Association and the Boston Consulting Group.
According to a report by New World Wealth, the bulk of London's second home buyers come from the rest of the UK and Europe and a substantial number also came from China, India, Russia and West Asia.
From auto to watches, the mood is sombre due to the alarming state of the Indian economy and value erosion in stock market capitalisation.
Pune saw the fastest growth in terms of number of super-rich people.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances