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India - The Future of HNWIs to 2015: Bourgeoning Wealth and Wealth Management Opportunities

Synopsis

This report is the result of Wealth Insight's extensive research covering the HNWI population and Wealth Management industry in India. It provides market size and forecasts of the HNWI population. By leveraging the Wealth Insight HNWI Database, it provides key demographic breakdowns such as city specific data.

Summary

India offers tremendous opportunities for the private banking industry as a result of not only the substantial growth in the number of HNWI over the past few years, but especially because of the strong forecasted growth in volumes and wealth to 2015. This report not only provides detailed forecasts on expected HNWI asset allocation of India's HNWI and UHNWI to 2015, but gives the reader the crucial insight necessary to effectively act on those projections. In addition to providing a comprehensive and robust background of the Indian economy, including, uniquely, detailed analysis of economic and political risks to HNWI wealth creation, the report provides robust projections of the volume, wealth and asset allocation of India's HNWI. The report also couches these findings in an analysis of India's Wealth Management and Private Banking sector, and the opportunities therein. But what really sets the report apart is its analysis and presentation of the demographic trends and findings of the proprietary Wealth Insight HNWI Database.

Scope

The report features:

  • Independent market sizing of India's HNWI
  • Most up to date and thorough analysis of the demographic breakdown of India's HNWI
  • Volume, wealth and allocation forecasts to 2015
  • Details of the development, challenges and opportunities of the Wealth Management and Private Banking sector in India
  • City specific ratings and breakdowns of wealth, wealth growth and industries that HNWI work in for each city
  • Current insights into the drivers of HNWI wealth
  • Family office information

Reasons To Buy

  • The Wealth Insight HNWI Database is an unparalleled resource and the leading database of its kind. Compiled and curated by a team of expert research specialists, the HNWI Database comprises up to one hundred data-points on over 100,000 HNWI around the world. With the HNWI Database as the foundation for our research and analysis, we are able obtain an unsurpassed level of granularity, insight and authority on the HNWI universe in each of the countries and regions we cover.
  • Comprehensive forecasts to 2015.
  • Information on sources of wealth for HNWIs in each major city, by industry and other measures.

Table of Contents

TABLE OF CONTENTS

1 Introduction

  • 1.1 What is this Report About?

2 Executive Summary

3 Wealth Sector Fundamentals

  • 3.1 Economic Background to the Wealth Sector
  • 3.2 Political Background to the Wealth Sector
  • 3.3 Benchmarking Indian Wealth in Context

4 Findings from the WealthInsight HNWI Database

  • 4.1 Trends in HNWI Wealth to 2015
    • 4.1.1 HNWI trend analysis
    • 4.1.2 HNWI volume trend analysis
    • 4.1.3 HNWI wealth trend analysis
    • 4.1.4 Per-capita HNWI net worth trend analysis
    • 4.1.5 Trends of the wealth bands
    • 4.1.6 Demographic breakdown of Indian wealth
    • 4.1.7 Demographic breakdown by age
    • 4.1.8 Demographic breakdown by gender
    • 4.1.9 Demographic breakdown by region
    • 4.1.10 Source of wealth
    • 4.1.11 Industry
    • 4.1.12 HNWIs' source of wealth: inherited vs earned vs self-made
  • 4.2 UHNWIs
    • 4.2.1 UHNWIs: market sizing
    • 4.2.2 UHNWIs: market size by volume
    • 4.2.3 UHNWIs: market size by value
    • 4.2.4 UHNWIs: market size by per-capita net worth
    • 4.2.5 UHNWIs: demographic breakdown
    • 4.2.6 UHNWIs: demographic breakdown by age
    • 4.2.7 UHNWIs: demographic breakdown by region
    • 4.2.8 Sources of UHNWI wealth
    • 4.2.9 Industry
    • 4.2.10 Industry performance
    • 4.2.11 Industry forecasts
    • 4.2.12 City performance
    • 4.2.13 UHNWIs' source of wealth: inherited vs earned vs self-made
  • 4.3 UHNWIs - The Billionaires
    • 4.3.1 Billionaires: market sizing
    • 4.3.2 Billionaires: market size by volume
    • 4.3.3 Billionaires: market size by wealth
    • 4.3.4 Billionaires: market size by per-capita wealth
    • 4.3.5 Billionaires: demographic breakdown by age
    • 4.3.6 Billionaires: demographic breakdown by region
    • 4.3.7 Source of billionaire wealth
    • 4.3.8 Industry
    • 4.3.9 Billionaires' source of wealth: inherited vs earned vs self-made
    • 4.3.10 List of Indian billionaires
  • 4.4 UHNWIs - The Centimillionaires
    • 4.4.1 Centimillionares: market sizing
    • 4.4.2 Centimillionares: market size by volume
    • 4.4.3 Centimillionares: market size by wealth
    • 4.4.4 Centimillionares: market size by per-capita wealth
    • 4.4.5 Centimillionaires: demographic breakdown
    • 4.4.6 Centimillionaires: demographic breakdown by age
    • 4.4.7 Centimillionaires: demographic breakdown by region
    • 4.4.8 Centimillionaires wealth: industry
    • 4.4.9 Centimillionares' source of wealth: inherited vs earned vs self-made
  • 4.5 UHNWIs - The Affluent Millionaires
    • 4.5.1 Affluent millionaires: market size by volume
    • 4.5.2 Affluent millionaires: market size by wealth
    • 4.5.3 Affluent millionaires: market size by per-capita wealth
    • 4.5.4 Affluent millionaires: demographic breakdown
    • 4.5.5 Affluent millionaires: demographic breakdown by age
    • 4.5.6 Affluent millionaires: demographic breakdown by region
    • 4.5.7 Source of affluent millionaire wealth
    • 4.5.8 Industry
    • 4.5.9 Affluent millionaires' source of wealth: inherited vs earned vs self-made
  • 4.6 Core HNWIs
    • 4.6.1 Core HNWIs: market sizing
    • 4.6.2 Core HNWIs: market size by volume
    • 4.6.3 Core HNWIs: market size by value
    • 4.6.4 Core HNWIs: market size by per-capita wealth
    • 4.6.5 Core HNWIs: demographic breakdown
    • 4.6.6 Core HNWIs: demographic breakdown by age
    • 4.6.7 Core HNWIs: demographic breakdown by region
    • 4.6.8 Source of core HNWI wealth
    • 4.6.9 Industry
    • 4.6.10 Core HNWIs' source of wealth: inherited vs earned vs self-made
  • 4.7 Core HNWIs - The Mid-Tier Millionaires
    • 4.7.1 Mid-tier millionaires: market size by volume
    • 4.7.2 Mid-tier millionaires: market size by value
    • 4.7.3 Mid-tier millionaires: market size by per-capita wealth
  • 4.8 Core HNWIs - Lower-Tier Millionaires
    • 4.8.1 Lower-tier millionaires: market size by volume
    • 4.8.2 Lower-tier millionaires: market size by value
    • 4.8.3 Lower-tier millionaires: market size by per-capita wealth
  • 4.9 HNW Family Wealth
    • 4.9.1 Source of HNW family wealth
    • 4.9.2 HNW family regional distribution
    • 4.9.3 Wealthy families and company links
    • 4.9.4 Philanthropy and wealthy families
  • 4.10 Expat Indian Wealth - The NRIs

5 Analysis of Indian HNWI Investments

  • 5.1 Analysis by Asset Classes
    • 5.1.1 Changing trends in liquid assets - Equity, fixed income and cash deposits
    • 5.1.2 Trends of investments in alternative investments

5.1.2.1 Trends in "art, wine and wheels"

    • 5.1.3 Trends of investments in real estate
    • 5.1.4 Trends of investments in cash and deposits
    • 5.1.5 Trends of investments in fixed income
    • 5.1.6 Trends of investments in equity
    • 5.1.7 Trends of business interests
  • 5.2 Analysis of Foreign Investments
    • 5.2.1 Trends of investments in rest of Asia-Pacific
    • 5.2.2 Trends of investments in North America and Europe
    • 5.2.3 Trends of investments in Africa, Middle East and Latin America

6 Competitive Landscape of the Wealth Sector

  • 6.1 Competitive Structure
  • 6.2 Wealth Managers and Private Banks
    • 6.2.1 Wealth managers
    • 6.2.2 Private banks
    • 6.2.3 Foreign banks and MNCs
    • 6.2.4 Joint ventures
    • 6.2.5 Domestic providers
  • 6.3 Leading Companies in the Wealth Management Industry
  • 6.4 Family Offices
    • 6.4.1 Multi-family offices
    • 6.4.2 Single-family offices
  • 6.5 Trusts
  • 6.6 Challenges and Opportunities for the Wealth Sector in India
    • 6.6.1 Regulatory
    • 6.6.2 Tax
    • 6.6.3 Human resources
    • 6.6.4 Move to self-management
    • 6.6.5 Underdeveloped product offerings
    • 6.6.6 Demands of intergenerational wealth transfer and younger clientele
    • 6.6.7 Philanthropy

7 Appendix

  • 7.1 Banking Regulations, Taxes and Laws
    • 7.1.1 Regulations on equity capital
    • 7.1.2 Limitation on amount of loans
    • 7.1.3 High currency reserve ratio (CRR) and statutory liquidity ratio (SLR)
    • 7.1.4 Limitation on borrowings from overseas headquarters
    • 7.1.5 Interest rate trends for lending and borrowing
    • 7.1.6 Taxes on investments
    • 7.1.7 Investment limits
  • 7.2 Key Economic Trends and Drivers
    • 7.2.1 National wealth indicators
    • 7.2.2 Financial market indicators
    • 7.2.3 Banking indicators
    • 7.2.4 Trade indicators
    • 7.2.5 Other indicators

8 About WealthInsight

List of Tables

LIST OF TABLES

  • Table 1: HNWI Wealth Band and Group Definitions
  • Table 2: HNWI Wealth Sector Market Attractiveness, 2007-2015
  • Table 3: HNWIs - Volume by Wealth Band, 2007-2015
  • Table 4: HNWIs - Wealth by Wealth Band (US$ Billion), 2007-2015
  • Table 5: HNWIs - Per-Capita Net Worth (US$ Million), 2007-2015
  • Table 6: HNWIs - Volume Distribution Wealth Pyramid, 2011
  • Table 7: HNWIs - Wealth Distribution Wealth Pyramid, 2011
  • Table 8: HNWIs- Distribution by High- vs Low-Human-Capital-Development Industry, 2011
  • Table 9: UHNWIs - Volume by Wealth Band, 2007-2015
  • Table 10: UHNWIs - Wealth by Wealth Band (US$ Billion), 2007-2015
  • Table 11: UHNWIs - Per-Capita Net Worth (US$ Million), 2007-2015
  • Table 12: UHNWIs - Cities by Sector, 2007-2011
  • Table 13: UHNWIs - Emerging Cities by Sector, 2007-2011
  • Table 14: UHNWIs - WealthInsight Rating of Private Banking Potential
  • Table 15: UHNWIs - Billionaires: Market Size, 2007-2015
  • Table 16: UHNWIs - Billionaires: Top 20
  • Table 17: UHNWIs - Centimillionaires: Market Size, 2007-2015
  • Table 18: UHNWIs - Affluent Millionaires: Market Size, 2007-2015
  • Table 19: Core HNWIs - Volume by Wealth Band, 2007-2015
  • Table 20: Core HNWIs - Wealth by Wealth Band (US$ Billion), 2007-2015
  • Table 21: Core HNWIs - Per-Capita Net Worth by Wealth Band, 2007-2015
  • Table 22: Core HNWIs - Mid-Tier Millionaires: Market Size, 2007-2015
  • Table 23: Core HNWIs - Lower-Tier Millionaires: Market Size, 2007-2015
  • Table 25: HNWIs - Liquid Asset Composition (%), 2007-2015
  • Table 26: HNWIs - Liquid Asset Composition (%), 2007-2015
  • Table 27: HNWIs - Trends of Investments in Alternative Assets (US$ Billion), 2007-2015
  • Table 30: HNWIs - Global Distribution of Foreign Investments, (%) 2007-2015
  • Table 31: HNWIs - Trends of Foreign Investments, 2007-2015
  • Table 32: Wealth Management Industry - Main Companies Operating in India
  • Table 33: Wealth Management Industry - Major SFOs and MFOs Operating in India
  • Table 34: INR to US$ Moving Annual Average Exchange Rate, 2006-2015
  • Table 35: Real GDP Growth Rate, 2006-2015
  • Table 36: GDP Per Capita, 2006-2015
  • Table 37: Gross Savings as a Percentage of Real GDP, 2006-2015
  • Table 42: Investments of FIIs in Equity Products, 2006-09
  • Table 43: Inflation Rate, 2006-2015

List of Figures

LIST OF FIGURES

  • Figure 1: HNWI Wealth Band Definitions
  • Figure 2: Map of India HNWI Wealth Band Definitions
  • Figure 3: HNWI Wealth Sector Market Attractiveness, 2007-2015
  • Figure 4: HNWIs - India vs RoW and Asia-Pacific
  • Figure 5: HNWIs - Volume and Growth Factor Correlation, 2007-2015
  • Figure 6: HNWIs - Volume by Wealth Band, 2007-2015
  • Figure 7: HNWIs - Wealth by Wealth Band (US$ Billion), 2007-2015
  • Figure 8: HNWIs - Per-Capita Net Worth (US$ Million), 2007-2015
  • Figure 9: HNWIs - Volume Distribution Wealth Pyramid, 2011
  • Figure 10: HNWIs - Wealth Distribution Wealth Pyramid, 2011
  • Figure 11: HNWIs - Age Distribution, 2011
  • Figure 12: HWNIs - Age Distribution by Gender, 2011
  • Figure 15: HNWIs - Human Capital Development Index by City, 2011
  • Figure 16: HNWIs - Comparison of Leading Sector Shares by Region
  • Figure 17: UHNWIs - Analysis of Wealth Band Evolution, 2007-2015
  • Figure 18: UHNWIs - Volume by Wealth Band, 2007-2015
  • Figure 19: UHNWIs - Wealth by Wealth Band (US$ Billion), 2007-2015
  • Figure 20: UHNWIs - Per-Capita Net Worth (US$ Million), 2007-2015
  • Figure 21: UHNWIs - Age Distribution, 2011
  • Figure 22: UHNWIs - Regional Distribution by City, 2011
  • Figure 23: UHNWIs - Distribution by Primary Source of Wealth, 2011
  • Figure 24: UHNWIs - Sector Performance, 2007-2011
  • Figure 25: UHNWIs - Sector Forecasts, 2011-2015
  • Figure 26: UHNWIs - City Performance, 2011
  • Figure 27: UHNWIs - City Performance, 2011
  • Figure 28: UHNWIs - Distribution by Source of Wealth, 2011
  • Figure 29: UHNWIs - Billionaires: Market Size, 2007-2015
  • Figure 31: UHNWIs - Billionaires: Regional Distribution by City, 2011
  • Figure 32: UHNWIs - Billionaires: Distribution by Primary Source of Wealth, 2011
  • Figure 33: UHNWIs - Billionaires: Distribution by Source of Wealth, 2011
  • Figure 34: UHNWIs - Centimillionaires: Market Size, 2007-2015
  • Figure 35: UHNWIs - Centimillionaires: Age Distribution, 2011
  • Figure 36: UHNWIs - Centimillionaires: Regional Distribution by City, 2011
  • Figure 37: UHNWIs - Centimillionaires: Distribution by Primary Source of Wealth, 2011
  • Figure 38: UHNWIs - Centimillionaires: Distribution by Source of Wealth, 2011
  • Figure 39: UHNWIs - Affluent Millionaires: Market Size, 2007-2015
  • Figure 40: UHNWIs - Affluent Millionaires: Age Distribution, 2011
  • Figure 41: UHNWIs - Affluent Millionaires: Regional Distribution by City, 2011
  • Figure 42: UHNWIs - Affluent Millionaires: Distribution By Primary Source of Wealth, 2011
  • Figure 43: UHNWIs - Affluent Millionaires: Distribution by Source of Wealth, 2011
  • Figure 44: Core HNWIs - Volume by Wealth Band, 2007-2015
  • Figure 45: Core HNWIs - Wealth by Wealth Band (US$ Billion), 2007-2015
  • Figure 46: Core HNWIs - Per-Capita Net Worth by Wealth Band, 2007-2015
  • Figure 47: Core HNWIs - Age Distribution, 2011
  • Figure 49: Core HNWIs - Distribution by Primary Source of Wealth, 2011
  • Figure 50: Core HNWIs - Mid-Tier Millionaires: Market Size, 2007-2015
  • Figure 51: Core HNWIs - Lower-Tier Millionaires: Market Size, 2007-2015
  • Figure 52: HNW Family Wealth - Distribution by Source of Wealth, 2011
  • Figure 53: HNW Family Wealth - Regional Distribution, 2011
  • Figure 54: NRIs - UHNW NRIs: Regional Distribution, 2011
  • Figure 55: HNWI - Asset Class Composition, 2007-2015
  • Figure 56: HNWIs - Liquid Asset Composition (US$ Billion), 2007-2015
  • Figure 57: HNWIs - Changing Trends in Total Liquid Assets (% of Total Assets), 2007-2015
  • Figure 58: HNWIs - Trends of Investments in Alternative Assets (US$ Billion), 2007-2015
  • Figure 59: HNWIs - Trends in "Art, Wine and Wheels", 2006-2010
  • Figure 60: HNWIs - 2015 Foreign Asset Allocation vs Growth
  • Figure 61: HNWIs - Global Distribution of Foreign Investments, 2007-2015
  • Figure 62: HNWIs - Trends of Foreign Investments, 2007-2015
  • Figure 63: Wealth Management Industry - Structure
  • Figure 64: INR to US$ Moving Annual Average Exchange Rate, 2006-2015
  • Figure 65: Real GDP Growth (%), 2006-2015
  • Figure 66: GDP Per Capita, 2006-2015
  • Figure 67: Gross Savings as a Percentage of Real GDP, 2006-2015
  • Figure 68: Domestic Market Capitalization, 2006-2010
  • Figure 69: Housing Price Index, 2006-2010
  • Figure 70: Commodity Indices, 2006-2015
  • Figure 71: Foreign Direct Investments, 2006-2015
  • Figure 72: Investments of FIIs in Equity Products, 2006-09
  • Figure 73: Inflation Rate, 2006-2015
  • Figure 74: Repo Rate, 2006-2015
  • Figure 75: Balance of Payments, 2006-2010
  • Figure 76: Stock Market Performance, 2006-2010
  • Figure 77: External and Fiscal Debt as % of GDP, 2006-15
  • Figure 78: HNWI Wealth vs GDP, 2006-2010
  • Figure 79: Capital Formation as a Percentage of GDP, 2006-2015
  • Figure 80: Disposable Income as a Percentage of GDP, 2006-2015
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