Covid-19: Global pvt wealth takes a hit; India sees 20% dip in Jan-March

India sees 20 per cent drop in total wealth in January-March 2020 period; fares worse than global drop of 15 per cent

Private wealth growth rates have turned out to be negative for all major economies in the January-March quarter of 2020. Emerging economies, including India, faced the brunt of the meltdown, with total wealth growth rate ranging between (-) 14 per cent to (-) 26 per cent in the first quarter of 2020, estimates a research report by New World Wealth.
 

In India, the drop was fueled by local currency depreciation from around Rs 71 per US dollar to Rs 75 a US dollar during the quarter, the report said. The loss in local stock market - the BSE index down