‘India has 198,000 dollar millionaires’

FACTmillAccording to a report India is now home to the 11th largest population of dollar millionaires, with 198,000 such high networth individuals. Falling oil prices and ‘constructive election results’ are seen as the reasons the country posted such gains in terms of the number of high networth individuals (HNWI). With this India has recorded the largest gains for the region and globally.

The report released by Capgemini and RBC Wealth Management said in 2014 the number of HNWIs stood at 156,000.

The report ranks India 11th on the list that is topped by the US followed by Japan, Germany, and China. China and India are expected to show continued growth and could hold over 10 percent of all global HNWI wealth by 2017.