India Holds 15th Position With 175,000 Millionaire Households In 2013: Report

India had 175,000 millionaire households in 2013, ranking 15th in the world, as per a report by The Boston Consulting Group. The report said the total number of millionaire households across the world increased to 16.3 million.

The Boston Consulting Group's 14th annual report 'Riding a Wave of Growth: Global Wealth 2014' said global private financial wealth grew by 14.6% in 2013 to reach $152 trillion. The rise was higher than that in 2012 when the global private wealth grew by 8.7%. India had ranked 16th in 2012.

India is projected to become the seventh wealthiest nation by 2018. The number of ultra-high-net-worth households (those with $100 million or more) in the country stood at 284 in 2013.

The US had the highest number of millionaire households at 7.1 million. It also had the highest number of new millionaires at 1.1 million.

The number of millionaire households in China increased from 1.5 million in 2012 to 2.4 million in 2013 while the number of millionaire households in Japan decreased from 1.5 million in 2012 to 1.2 million in 2013.

“As the debate over the global polarisation of wealth rages on, one thing is certain: more people are becoming wealthy” the report said.