India's wealth soars but few benefit: Highlights

The past year has been good in terms of wealth creation, thanks to soaring asset prices across the world, according to Credit Suisse Global Wealth Report 2017. Global wealth rose 6.4 per cent, or $16.7 trillion, to $280 trillion for the 12-month period to mid-2017. India bettered the global growth rate with a 10 per cent, or $451 billion, increase in household wealth to $5 trillion. The reason for India’s performance was a 30 per cent jump in the stock market, 10 per cent increase in house prices and four per cent appreciation in the rupee against the dollar. Some