Although the Indians have been enriched in recent years, the richest are tiny, according to a report on wealth. Despite this, India has a relatively high inequality compared to the rest of the world.
The Credit Suisse Global Wealth Report 2018 analyzes the wealth of 5 billion adults using financial reports and household surveys by country.
More people, less wealth
Only one in 10 Americans has a wealth of more than $ 10,000. Although the country has 3.4 million millionaires, their proportion is negligible compared to its counterparts in the rest of the world.
Personal wealth increases
Average personal wealth per capita has increased over the years, but the rate of growth has decreased.
While the share of non-financial assets has increased steadily in recent years, the percentage of household debt has increased. Financial wealth has declined slightly over the years.
The wealth-inequality equation
The median wealth of India per adult is $ 1,289. This is much less than the global median of $ 4,209. India also has a high Gini coefficient, which means that it is one of the poorest and most unequal countries.
The Gini coefficient is a measure of inequality. A Gini of 0 indicates a total equality in the population and 100 a total inequality.
The graph below shows the median per capita wealth of the selected countries in relation to the Gini coefficient.
How to read the table:
Top right: country with high median wealth, but wealth is very unevenly distributed
Bottom right: poor country, high inequality
Bottom left: poor country, low inequality
Top left: rich country with low inequality (or even a distribution of wealth)