Global wealth surges in 2017 - Credit Suisse report

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"In contrast, residents of India remain heavily concentrated in the bottom half of the distribution, accounting for more than a quarter of the members", the report said.

At the other extreme, the poorest half of the world's population - 3.5 billion people - own just 2.7 per cent of global wealth, which grew faster in the previous year than at any time since 2010, reaching a total of $280 trillion. While wealth has been rising in India, not everyone has shared in this growth.

The rise in the stock market is the biggest reason for the gains, which in turn were driven by both stronger underlying economic conditions and the prospect of lower taxes and deregulation, Credit Suisse reported. "There is still considerable wealth poverty, reflected in the fact that 92 per cent of the adult population has wealth below $ 10,000", the report said. Stock market gains helped add $8.5 trillion to United States household wealth during that period, a 10.1% rise. However, due to India's large population, this translates into 4.2 million people.

You need to own $76,754 to be a member of the top 10 percent of global wealth holders and $770,368 to belong to the top one percent.

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And since year 2000, the number of millionaires globally has increased 170 percent, while the number of people with more than $30 million to their name has ballooned five-fold to around 45,000 worldwide, the study showed.

Among key findings about India, the report said fluctuations in asset prices and exchange rates accounted for much of the change in household wealth across regions and countries in the short run.

"The bottom half of adults collectively own less than 1% of total wealth, the richest decile (top 10% of adults) owns 88% of global assets, and the top percentile alone accounts for half of total household wealth", the Credit Suisse report said.

Wealth per adult is estimated at $5,980 in mid-2017, dominated by property and other real assets, which make up 86% of estimated household assets. Personal debts are estimated at just 9 per cent of gross assets, while overall household debt as a proportion of assets in India is lower than in most developed countries.

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