In less than a decade from now, Indian millionaires will hold more than double the wealth of their Chinese counterparts, reveals a study by banking agent Barclays.
Over the next decade, the number of dollar millionaires in
Moreover, by 2017 the four emerging markets–
In 2007, G7 countries —
But as a percentage of the population these households will comprise just 0.2%. In comparison, smaller countries like
In absolute terms, however,
The five-year bull run has contributed significantly to the rising fortunes, with many corporates and entrepreneurs tapping the markets to raise funds. Inherited wealth and rising corporate salaries are also key drivers.