LONDON: India has 340,000 people in the top 1% of global wealth holders accounting for a 0.7% share, including 1,820 with wealth over $50 million and 760 having more than $100 million, according to a new global wealth report released Tuesday.
The Zurich-based financial services major Credit Suisse estimates there could be 370,000 millionaires in India in 2022.
Since the financial crisis broke in 2008, the report says global wealth has grown by 27%. In the 12 months to mid-2017, it grew at a faster pace than in recent years, with mean wealth per adult reaching a record high.
“The United States continued its unbroken spell of gains since the financial crisis, bolstered by strong market conditions. It added $8.5 trillion to the stock of global wealth, which is half of the wealth generated globally over the 12 months to mid-2017.”
In percentage terms, India’s stock of household wealth during the period grew at 10.1%, although its addition to total global wealth was limited to $451 billion.
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New Delhi: External affairs minister Sushma Swaraj said in the Rajya Sabha that Prime Minister Narendra Modi discussed the “spirit” of H-1B visa with President Donald Trump during their recent meeting and made him agree on crucial contribution of the Indian skilled professionals to the US economy Continue reading
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WASHINGTON: Prime Minister Narendra Modi and US President Donald Trump pushed Pakistan to ensure its territory was not used for attacks against other nations, a blunt indictment of Islamabad that signalled a new impetus in the two countries’ resolve to fight terrorism.
In another important nod to India’s concerns over China’s One Belt One Road project, Washington agreed that any infrastructure for regional connectivity must ensure “respect for sovereignty and territorial integrity”.
WASHINGTON: The US designated Hizbul Mujahideen chief Syed Salahudddin a global terrorist just hours ahead of Prime Minister Narendra Modi’s meetings with the American president on Monday and there was “strong focus” on counter-terrorism in the Indian leader’s meetings with Trump administration officials.
India welcomed the designation, saying it “vindicated” its long-standing position that crossborder terrorism perpetrated from outfits based in Pakistan was behind disturbances in Kashmir . It also “underlines also quite strongly the fact that both India and United States face the same threat of terrorism”, ministry of external affairs spokesman Gopal Bagley told reporters.
He said there was a “strong focus” on counter-terrorism in the meeting Modi had with secretaries of state and defense Rex Tillerson and James Mattis ahead of the meeting with President Donald Trump.