Individual wealth in India is set to almost
triple in the next five years to 249 lakh crore ($4.6trn), new
research on the Indian wealth market predicts.

Karvy Private Wealth’s annual India Wealth
Report, estimates that the total value of assets held by
individuals in India in 2011 is 86.5 lakh crore.

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Karvy’s research, which defines investment
assets exclude physical assets such as real estate, gold and
government or institutional holdings, said total assets is set to
grow to more than 106 lakh crore in the 2012 financial year.

This comes as Merrill Lynch’s 2011 World
Wealth Report estimated that India’s high net
worth population grew by 20.8% in 2010 to reach 153,000.

 

Changes in asset
allocation

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Karvy Private Wealth’s research suggests
changes are coming in Indian asset allocation.

Currently investments in debt instruments
forma major part of the total individual wealth in India, with
nearly 68% getting parked in this asset class.

Equity holdings constitute nearly 32% of the
total wealth, while alternative assets contribute just 0.34%
despite gaining in popularity among high net worth investors.

 

Future trends

The Indian Wealth Report predicts
that individual wealth in equities will grow to 37% in India in
FY16, while it expects alternative assets to grow 100% per
annum.

The report added that investment in debt
instruments will decline in the overall portion of wealth held by
individuals in India but is expected to rise 15% every year in
value terms.

India is currently the largest buyer and
holder of gold in the world and will continue to remain a market
leader, the report said.

 

India UHNW households to triple by 2016