Over the past two decades, India’s real per capita financial assets have surged fivefold, marking one of the most impressive wealth growth trajectories among emerging markets, according to global insurer Allianz that released the 16th edition of its Global Wealth Report, analyzing household assets and liabilities across nearly 60 countries.
Mumbai: In 2024, gross financial assets of Indian households rose by 14.5%, slightly surpassing the previous year’s 14.3% growth. Securities led the charge with a 28.7% increase, while insurance and pensions – holding a larger portfolio share of 32.5% – grew by 19.7%. Bank deposits, still the dominant asset class at 54%, rose by 8.7%.
Over the past two decades, India’s real per capita financial assets have surged fivefold, marking one of the most impressive wealth growth trajectories among emerging markets, according to global insurer Allianz that released the 16th edition of its Global Wealth Report, analyzing household assets and liabilities across nearly 60 countries.
Bank deposits, comprising 54 per cent of household portfolios, surged 8.7 per cent.
Adjusted for inflation, Indian financial assets grew a robust 9.4%, lifting purchasing power 40% above pre-pandemic levels – an impressive contrast to Western Europe, where it remains 2.4% below 2019.
India’s expanding middle class continues to reshape global wealth dynamics, contributing significantly to the rise of emerging markets in the global middle wealth segment.
Meanwhile, liability growth moderated to 12.1%, in line with long-term averages, though the household debt ratio climbed to 41%, up 8 percentage points over the last decade. Net financial assets advanced by 15.6%, reaching USD 2818 per capita.