Go Back   ManagementParadise.com | Management & Business Education Learning Platform Mirror View - Ebooks Links & Miscellenous Reading Material > Articles !!

India's rich club to grow 12.8 per cent by 2009

Discuss India's rich club to grow 12.8 per cent by 2009 within the Articles !! forums, part of the Mirror View - Ebooks Links & Miscellenous Reading Material category; New Delhi: Come 2009 and India will have a whopping 1.1 million individuals with a liquid wealth of US$ 100,000. ...

Reply

 

Thread Tools Display Modes
India's rich club to grow 12.8 per cent by 2009
Old
 (1 (permalink))
vengabeats
vengabeats has much to be proud ofvengabeats has much to be proud ofvengabeats has much to be proud ofvengabeats has much to be proud ofvengabeats has much to be proud ofvengabeats has much to be proud ofvengabeats has much to be proud ofvengabeats has much to be proud ofvengabeats has much to be proud ofvengabeats has much to be proud of
 
Financial Analyst at Transparent Value
Management Paradise Guru
 
Status: Offline
Posts: 2,529
Join Date: Jul 2005
India's rich club to grow 12.8 per cent by 2009 - September 22nd, 2006

New Delhi: Come 2009 and India will have a whopping 1.1 million individuals with a liquid wealth of US$ 100,000. This will be a substantial leap from the current estimated figure of 7,11,000 individuals with a liquid wealth of US$ 100,000 or more.


A study, released by financial services firm American Express, says the affluent section (individuals with assets of $100,000 or more) of India's population is expanding by the day. In 2005, there were 83,000 millionaires in the country. This figure is expected to grow annually at 12.8 per cent by 2009.


The estimated cumulative liquid wealth of the affluent section, which was $203 billion in 2005, is expected to increase to $322 billion by 2009, representing an annual growth rate of 12.2 per cent.


This is perhaps not surprising considering that the entire Asia Pacific region is seeing an increase in the number of wealthy individuals (with liquid assets of $50,000 and more).


The affluent individual population in the Asia Pacific region is expected to increase to 47.6 million in 2008 from 42 million in 2005.
Atul Mathur, senior vice-president, ASEAN and South Asia, American Express, believes India's robust economic growth, combined with social factors that include growing self-confidence and increasing consumerism, is causing a dramatic change in the lifestyle aspirations of the country's rich.


"Consumers are determined to live their dreams and the marketplace is responding to them. Every day in India, new global brands are opening their doors, and indigenous Indian marketers are innovating. Competition is fierce," he added.




Source : Rediff



Advertisements



It's better to let someone think you are an Idiot than to open your mouth and prove it.



To view links or images in signatures your post count must be 0 or greater. You currently have 0 posts.

Friends: (18)
Reply With Quote
Reply

Bookmarks

Tags
128, 2009, cent, club, grow, india, rich
Related to India's rich club to grow 12.8 per cent by 2009
 

Similar Threads

Thread Thread Starter Forum Replies Last Post
China's economy to grow 9.5 per cent in 2007 Aaron Dsouza Articles !! 2 October 15th, 2007 08:32 PM
Money Magazine's 25 ways to grow RICH (Do Read) ross18 Articles !! 2 August 3rd, 2007 03:40 AM
Raining millionaires! India's richie-rich club grows vengabeats Articles !! 0 October 9th, 2006 09:41 PM
India's April industrial output up 9.5 per cent Praveen Gurwani Articles !! 0 June 13th, 2006 11:17 PM
 


Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Trackbacks are On
Pingbacks are On
Refbacks are Off


ManagementParadise.com is not responsible for the views and opinion of the posters. The posters and only posters shall be liable for any copyright infringement.



Search Engine Optimization by vBSEO ©2011, Crawlability, Inc.