Over 300 million Indians live on less than $1 a day making India home to a third of the world's poorest people. Neo-liberal economic reforms launched in the early 90s helped India on the path to growth; however, the nation's economic success has not been without its challenges...
Ambitious neo-liberal economic reforms in 1991 launched a period of steady pace of growth in the Indian economy. Growing at an average annual rate of 6 percent between 1991 and 2004, the reforms have been largely successful in converting the Indian economy from a planned to a free-market model. With increasing amounts of foreign direct investment, the Indian economy rose by over 150% between 2006 and 2007. However, India's tremendous economic success is threatened by other concerning factors, such as high inflation rates, high interest rates, ongoing debt burden, declining inflows of FDI and double-dip potential in the global economy.
This report is a thorough analysis of India's Wealth Management and Private Banking sector, and the opportunities and challenges that it faces. 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 and wealth of India's HNWI.
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