Financial wealth in India jumps 11% in pandemic year

Mumbai, June 15

Financial wealth in India grew 11% to $3.4 trillion in 2020 despite the coronavirus pandemic, a global consultancy estimated on Tuesday.

The 11% growth in financial wealth was at par with the compounded annual growth rate for the five years to 2020, the report by Boston Consulting Group (BCG) said.

Financial wealth is defined as the total wealth excluding real assets and liabilities held by adult individuals.

It can be noted that after a sharp correction in the early days of the pandemic, there has been a continuing rally in stocks since April last year, which has led to concerns being expressed across quarters.

The report noted that the next few years will also see a faster expansion in financial wealth, but the rate will slow down marginally to 10% per annum to take the number to $5.5 trillion by 2025. — PTI

Boston Consulting Group report

• The growth in financial wealth was at par with the compounded annual growth rate for five years to 2020, the report by Boston Consulting Group said
• Financial wealth is defined as the total wealth excluding real assets and liabilities held by adult individuals

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