Indians are expanding their methods of investment to create wealth rather than using unconventional ways. As per the ninth edition of Karvy Private Wealth's 'India Wealth Report,' total individual wealth among Indians, that is, financial and physical assets, have grown 14.02 percent in the financial year 2018 when compared to 11 percent in the previous year. Particularly, financial assets increased to 60.2 percent in FY 2018 when compared to 58.48 percent in FY 2017.
The report further said that among the financial assets a bulk of them account for equity investments whereas growth in real assets has been slow. It expects the portion of financial assets to increase to 67.98 percent of the total wealth by financial year 2023. The data showed that the portion of direct equity at 20.72 percent exceeded that of fixed deposits and bonds which were at 17.81 percent.
The report's 2013 edition showed had estimated an overall growth in wealth by 103 percent for FY18 with financial assets accounting of 55 percent of it. The 2018 report, however, showed a 94 percent growth in overall wealth with financial assets accounting for 60 percent of the allocation. Equity was the biggest contributor among financial assets.