A report tabled today says individual wealth in India grew by 14.02% to reach Rs. 392 lakh cr in
FY18. This was achieved by a huge 17.42% wealth growth in financial
assets and a sober 9.24% wealth growth in physical assets.
The report released by Karvy Private Wealth, called the India Wealth Report 2018, provides a holistic view of all the asset classes that have contributed to wealth creation in the last one year. Direct Equity emerged as the hero to capture the top spot where Indian individuals have their wealth overtaking Fixed Deposits. Other notable assets which saw good growth include mutual funds and alternative investments.