India to be home to 4.37 lakh millionaires by 2018: Study

[Ryuzaki]

NEW DELHI: India will be home to 4.37 lakh millionaires by 2018 with the count doubling by 2023, as a rapid rise is expected in the ultra-rich population over the coming 10 years - making it 'India's Decade' in terms of wealth creation, a new study says.

Over the past year, the number of millionaires in dollar terms in the country rose from 196,000 to 250,000, registering an increase of 27 per cent.

"Looking forward, India will continue to generate new millionaires at a rapid pace; we forecast 437,000 millionaires by 2018, and potentially double that number by 2023," Wealth-X said in its report titled 'Decades of Wealth: The Next 10 Years In Wealth and Luxury'.

Read more at:
India to be home to 4.37 lakh millionaires by 2018: Study - The Economic Times

 

[Viny]

Ya if they are counting only the money in white :p
If they count the black money also then probably the figure would be at least 10-30times more minimum

 

[Georgeclark]

Ya if they are counting only the money in white :p
If they count the black money also then probably the figure would be at least 10-30times more minimum

You are right, many of the Middle Men and Shop Owners here are more Rich than people can think of

 

[Skull and Bones]

Yup, here's one.

 

[xyxmt]

Anyone who owns a house as small as 100 by 100 Sq feet lot in Karachi is a millionaire, that would count more than 4.37 Lakhs

 

[Ryuzaki]

Anyone who owns a house as small as 100 by 100 Sq feet lot in Karachi is a millionaire, that would count more than 4.37 Lakhs

$$ millionaire not rupee millionaire

 

[xyxmt]

$$ millionaire not rupee millionaire

Even $$ millionaire will be more than 4.37 laks in Pakistan
There is something wrong your millionaire count

 

[P.K.]

Anyone who owns a house as small as 100 by 100 Sq feet lot in Karachi is a millionaire, that would count more than 4.37 Lakhs

Btw I am just curious about what you mentioned about Karachi.
1. is 100 by 100 feet = 10,000 feet or 900 sq yards is considered a small house in a metro like Karachi ?
2.is 900 sq yard just cost a million in Karachi ?

 

[xyxmt]

Btw I am just curious about what you mentioned about Karachi.
1. is 100 by 100 feet = 10,000 feet or 900 sq yards is considered a small house in a metro like Karachi ?
2.is 900 sq yard just cost a million in Karachi ?

Sorry wrong analogy, I meant 100 Sq Feet

 

[illusion8]

Sorry wrong analogy, I meant 100 Sq Feet

That's as big as a medium sized bathroom..are you sure someone owning that kind of a house is considered a millionaire?.

 

[P.K.]

Sorry wrong analogy, I meant 100 Sq Feet

I guess you are wrong again
it must be 100 sq yard

 

[xyxmt]

That's as big as a medium sized bathroom..are you sure someone owning that kind of a house is considered a millionaire?.

never mind, It was an analogy used to show how little a million rupee is
but being Indian you took out pencil and paper and start calculating lol

 

[Matrixx]

Anyone who owns a house as small as 100 by 100 Sq feet lot in Karachi is a millionaire, that would count more than 4.37 Lakhs

100 sq ft lot cost $1 million dollar....you guys are so rich....even more rich than USA

 

[MilSpec]

is this million rupees or dollars?

 

[xyxmt]

Yeah sure and just like that. Earning a bathroom size is a millionaire in Pakistan.

17 posts?

 

[MilSpec]

100 sq ft lot cost $1 million dollar....you guys are so rich....even more rich than USA

10000 sq ft lot...