Despite Covid, Indian adults see wealth rise 0.7% in H1-20: Credit Suisse

The total household wealth in India during this period, according to their estimates, rose 1.7 per cent to $246 billion

Wealth per adult in India rose 0.7 per cent to $17,420 at end of June 2020 despite the Covid-19 pandemic bringing life to a near standstill earlier this year and severely denting the economy, with gross domestic product (GDP) contracting 23.9 per cent in the first quarter.

Wealth per adult was $17,300 at the end of calendar year 2019, according to Global Wealth Report 2020 by Credit Suisse, released on Thursday. For 2020, Credit Suisse expects average wealth per adult to rise 5-6 per cent from the levels seen in 2019-end, with 2021 expected to see an even stronger growth