India is home to the fourth largest number of ultra-high net worth households that have more than $100 million in private wealth, according to a report.
Continued economic expansion of China and India was driving growth in wealth in the Asia-Pacific region, said the ‘Global Wealth 2015: Winning the Growth Game’ report by Boston Consulting Group.
The US remained the country with the largest number of ultra-high-net-worth households at 5,201, followed by China, the UK, India and Germany in 2014, it said.
India’s ultra-high net worth households grew manifold from 2013 when the number stood at 284.
The private wealth in the Asia-Pacific region expanded by a steep 29 percent in 2014 to reach $47 trillion, enabling it to overtake Europe to become the world’s second-wealthiest region, the report said.