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India ranks 5th in ultra-rich population, 75% of Indians have wealth below $10000

According to the latest Credit Suisse report on global wealth, although India ranks 5th globally in terms of the ultra-rich population, 75% of Indians have personal wealth less than $10,000 or about Rs 730,000. Only a small fraction of the population ie 1.8% of adults enjoy a net worth of $100,000. The report estimates that millionaires in India could number 1.2 million in 2024, increasing by 56% over the next 5 years.