Businessmen turn affluent, but forecasting affluence is becoming a business. Kotak Wealth-Crisil joined the big league of Capgemini-Merrill Lynch, Northbridge Asia, Credit Suisse and Barclays Wealth in their own way, launching their first volume of "wealthy Indians" that forecasts wealth in India. According to the report affluent individuals with assets of at least Rs 25 crore ( Approx U.S. Dollars 5 Million )will triple by 2016 to 2,19,000. Their assets may grow five-fold to Rs 235 lakh crore, it said.
Each institution sets its own definition of affluence, parameters and chooses its sample to conclude how the growth would pan out. But statisticians and economists that none of them are probably accurate, or closer to truth. "We live in a country which has a large shadow economy," says Maneesh Kumar, MD at Burgeon Advisors, New Delhi.
"Putting a finger on the exact net worth of an individual or family is a difficult task. This makes assessing the metrics of net worth a challenging task. Many of these assets such as real estate, art and commodities can be accumulated today in a large part with cash. While calculating net asset, one also has to see their liabilities, which most of the time is shadowed."



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