The total wealth of Indian ultra high net worth (UHNW)
households is forecast to increase by 422% to reach INR235trn
($5.26trn) in 2015-16 from estimated INR45trn in 2010-11.

CRISIL Research’s Top of the Pyramid study said that there are
no validated estimates of the number of UHNW households in
India.

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However the Kotak Wealth sponsored study estimated there were
about 62,000 UHNW households in 2010-11 with a minimum net worth of
INR250m. It forecast this figure could rise to 219,000 by
2015-16.

CRISIL’s report highlighted entrepreneurs as a dominant source
of domestic wealth and a key private wealth segment. While, growing
services industries, like technology and financial services also
catapulted many recently middle-income group individuals into the
UHNW bracket.

 

India’s three distinct UHNW brackets

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Based on the results of the survey, the researchers classified
India’s UHNW individuals into three groups: inheritors, self-made
and professionals.

It found that while 20% of UHNWIs will invest a fifth of their
income to grow personal wealth when making investments, they take
advice from family, close friends, trusted advisers and
professionals such as chartered accountants and lawyers.

The data also revealed that wealthy professionals put the
largest chunk of investments in financial assets such as equity
(39.7%), debt (25.8%) and alternative assets (8.1%).

Meanwhile, Kotak’s executive director and head of wealth
management C. Jayaram said Kotak plans to increase its wealth
management business by 25% during the 2012 financial year.