India Wealth Landscape: Market Sizing and Opportunities to 2022

India Wealth Landscape: Market Sizing and Opportunities to 2022

Summary

Based on our proprietary datasets, this report analyzes India’s wealth and retail savings and investments markets, with a focus on the HNW segment. This includes overall affluent market size (both by the number of individuals and the value of their liquid assets) as well as a breakdown of liquid vs. illiquid HNW holdings. The report also provides an analysis of the factors driving liquid asset growth, including a breakdown and forecast of total retail savings and investments split by the deposits, mutual funds, equities, and bonds asset classes.

The affluent population (including high net worth [HNW] and mass affluent individuals) accounted for only 1% of Indian adults in 2018. Despite this low percentage, India has the third-largest affluent population in Asia, after Japan and China. The two population segments collectively held 87% of India’s total onshore liquid assets in 2018, with the mass affluent segment alone holding more than half. India’s economy is performing steadily, with reforms such as the goods and services tax taking effect and encouraging growth. While there are challenges - including the weak rupee and high oil prices - the positive momentum is expected to continue as the year progresses. Growth in retail holdings is forecast to be particularly pronounced in the mutual funds space as the government’s awareness-building campaigns continue to bear fruit.

Scope

- While affluent individuals accounted for only 1% of India’s total adult population in 2018, they collectively held 87% of the country’s retail wealth.
- India’s retail investors allocate the majority of their wealth to deposits, with the asset class accounting for 55.4% of total liquid retail savings and investments in 2018.
- 16.2% of Indian HNW investors’ wealth was held outside of the country, with tax efficiency being the main reason for offshore investment.

Reasons to buy

- Make strategic decisions using top-level historic and forecast data on the Indian wealth industry.
- Identify the most promising client segment by analyzing the penetration of affluent individuals.
- Receive detailed insights into retail liquid asset holdings in India, including deposits, mutual funds, equities, and bonds.
- Understand the changing market and competitive dynamics by learning about new competitors and recent deals in the wealth space.
- See an overview of key digital disruptors in the country’s wealth market.