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BCG Reports India to be 11th Richest Country in 2022 with Double Digit CAGR
Boston Consulting Group (BCG) predicts India to be 11th richest Country in 2022
According to the Boston Consulting Group (BCG), by 2022, India will be the 11th richest country in the world. In the coming times, the wealth of Indians is going to grow rapidly.
This report has been released by the Boston Consulting Group (BCG). In terms of private property, by 2022 India will be the 11th richest country in the world. In this way, India's ranking will increase by four places from the year 2017.
During this, there is an estimated 13% increase in the private property of the country. Three years later, it will increase from the current $ 3 trillion to $ 5 trillion dollars.
According to the BCG report, by the year 2022, India's rank will improve by four notches. This will leave behind Switzerland, Hong Kong, Netherlands and Taiwan.
According to the report, India's Compound Annual Growth Rate (CAGR) has been 12% since 2012. After China, India is the only country in which CAGR is in double-digit (double digits) according to personal wealth.
Asia is the fifth largest market in India, rich, high net worth and ultra high net-worth category. The number of people rich here is 3 lakh 22 thousand. This category includes people with assets up to $ 1 million.
The number of rich net worth individuals in the country is 87 thousand. Their property is between $ 100 million and $ 200 million. There are 4 thousand people with ultra-high net worth case gages. Their wealth is more than $ 2 million.
At present, the US is at the top with personal wealth (Personal Wealth) of $ 80 trillion dollars. By 2022, it is expected to reach $ 100 trillion dollars. China's private property is $ 21 trillion. It is expected to double to $ 43 trillion in three years.