India’s Wealth Share of World 1.4%, Income Distribution Worst

Ravinder Singh

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India’s Wealth Share of World 1.4%, Income Distribution Worst
October19, 2014 (C) Ravinder Singh ravinderinvent@gmail.comET reporting on Global Wealth Databook 2014 is very misleading. Out of
34.837m millionaires in the world India accounts for only 0.182m or
roughly 0.5% and at $0.1m to $m range India has 2.565m adults out
372.727m or 0.7%, at $10,000 to $100,000 range India has 39.569m
adults out of 1009.891m or 3.9% and Indian adults account for 733.421m
out 3,281.927m or 22.34% more than population share.

Thus only one in 200 millionaires in the world is Indian. Even the
Projections of growth of millionaires in coming five years from 0.182m
to 0.294m out World Millionaires 34.837m to 53.162m is insignificant
from 0.522% to 0.553% this too may not materialize due to depreciation
of rupee.

In last 10 years India’s share of world’s wealth grew from 1.2% to
1.4% only mainly due to poor performance of Indian Industry and
consequent depreciation of rupee.

Even worse is India’s Income Distribution – Pakistan has slightly less
GDP and Practically No Mid-Tech Industry yet Pakistan has 9.3% adult
population in $10,000 plus wealth club whereas just 5.8% of Indians
are in $10,000 plus wealth club.

Brazil & China has 33.3% and 37.6% of adults have $10,000 plus wealth

Figures for USA and World are 71.4% and 29.4% adults with $10,000 plus wealth.
Table 3-1: Wealth pattern within countries, 2014
Distribution of adults (%) by wealth range (USD)
Countries    Mean Wealth $     Under $10,000    $10,000 to $100,000    $100,000 to
$1m    $1m Plus
India     4,645    94.5    5.1    0.3    0.0
Pakistan     4,417    90.7    9.2    0.1    0.0
Brazil     23,415    66.5    30.8    2.5    0.2
China    21,330    62.3    35.4    2.2    0.1
USA    347,845    28.6    31.9    33.5    5.9
World    56,016    69.8    21.5    7.9    0.7

India is Poor in Wealth Generation Worst in Wealth Distribution.

Ravinder Singh, National General Secretary


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