Mumbai: The last year was one of the worst year for most of the people across the globe. The whole world was engaged in a battle against the Covid-19 pandemic. For the super rich in India, the year 2020 was one of the worst year as the assets of these people declined sharply. This was revealed by a study published by Credit Suisse Research Institute.
As per the study, the overall wealth of the super rich in the country slipped down by 4.4% or 594 billion US dollars to 12.833 trillion US dollars. The decline of the Indian rupee and Covid-19 pandemic-induced restrictions are the main reason for this.
Also, the number of millionaires in India decreased to 6,98,000. In 2019, there were 7,64,000 millionaires in the country. At present, 1% of the super rich in the world are Indians. By 2025, the number of millionaires in India will surge by 81.8%, claims the study.