By 2027, India’s total wealth is projected to grow by 200% to $24.7 trillion

• India’s private wealth grew by 25% in FY17.
• India is home to 131 billionaires and more than 20,700 millionaires.
  
• India’s private wealth predicted to grow by of 200%.

Won’t it be hard to believe if we tell you that Indians are getting richer and richer? It is true.

India was the best performer in the global wealth market in 2017. A report by the New World Health, Indian private wealth grew by 25% from $6,584 billion in 2016 to $8,230 billion in 2017.

Total wealth of a country refers to the private wealth -- assets, cash, equities -- less any liabilities, held by citizens.

As of 18 May 2018, India is home to 131 billionaires, third in the world after USA and China, and to 20,700 millionaires, making the country rank seventh in the world millionaire count. Over the past decade, the Indian wealth has increased by more than $5,000 billion.

Indians are making money and assets like never before.

If the 2018 Global Wealth Migration Review by the AfrAsia Bank is to be believed, total wealth of India will triple by 2027. India’s total wealth is projected to grow by 200% from $ 8.23 trillion in FY17 to $24.7 trillion in 2027 if the current trend continues, said the review.

The estimated growth rate in India is far superior to any other country in the world.

A report in Quartz India said that the global wealth is expected to rise by 50% over the next decade, amounting to $321 trillion by 2027.

The steady rise in entrepreneurship, the presence of a very large English-speaking population, and the substantial growth in the traditional industries like IT, real estate, healthcare will be the driving factors to India's massive growth in terms of wealth, pushing the country into the league of the world’s fastest-growing wealth markets.

According to AfrAsia, six out of 10 global wealth growth driving cities are in India. The cities are Pune, Hyderabad, Bangalore, Mumbai, Delhi and Kolkata.

The predictions are in agreement with the countries performance in the last decade, as the Indian wealth grew by 25% in FY17.