Individual wealth to double in 4 years:Karvy report.

Total individual wealth in India is expected to nearly double to Rs 179 lakh crore by FY-16 from the current Rs 92.26 lakh crore. This wealth is expected to increase on account of existing wealth giving returns on investment and additional wealth invested from household savings, said the India Wealth Report by Karvy Private Wealth. Direct equity is expected to be the largest asset class followed by insurance and fixed deposits and bonds. In FY-12, Indian wealth in equities is 27.39 per cent, a decrease from 31.80 per cent in FY-11. Indian wealth in debt has increased to 72.35 per cent ( 67.86 per cent). However, alternate asset classes have shrunk by 17 per cent over the last year. Within this asset class, gold, real estate and private equity have grown significantly. India Wealth Report, however, expects alternate assets to grow more than 3 times by FY-17.

Households in the Ultra High Net Worth Individuals segments and mass affluent household segment account for 60 to 70 per cent of the entire wealth held by individuals.