The number of Ultra High Networth Households (UHNH) in India increased 7% to around 146,600 in FY16, according to the latest report Top of the Pyramid by Kotak Wealth Management. These households represent an accumulated net worth of Rs 135 lakh crore, a growth of 5% over last year and 18% compounded growth over the last five years. Interestingly, the average age of Ultra High Networth Individuals is reducing with nearly half being below 40 years of age. By FY 2021, the number of UHNHs is estimated to increase to 294,000 with a combine net worth of Rs 319 lakh crore.
Read more: Economic Times