India's household wealth soars 14.5% in 2024, fastest growth in eight years
- IBEF
- September 29, 2025
India emerged as one of the world’s fastest-growing wealth markets in 2024, with household financial assets rising 14.5% to deliver the strongest expansion in eight years, according to the Allianz Global Wealth Report 2025. Securities led this surge with 28.7% growth, followed by insurance and pensions at 19.7%, while bank deposits, still 54% of portfolios, advanced 8.7%. After inflation, financial assets climbed 9.4%, lifting purchasing power 40% above pre-pandemic levels. Net financial assets per capita touched Rs. 2,49,971 (US$ 2,818), up 15.6% YoY, underscoring the growing influence of India’s middle class. Over two decades, India’s real per-capita financial assets have increased fivefold, outpacing most emerging economies and even surpassing China’s twelvefold rise.
While the report notes that India’s wealth concentration has risen, the richest 10% now hold 65% of household wealth, the country’s extraordinary wealth creation provides context, with net financial assets per capita now 13 times higher than in 2004. Allianz expects continued strong growth as financial literacy improves, and investors shift from traditional savings to securities and pensions. Globally, household financial assets reached a record Rs. 2,80,23,48,900 crore (US$ 315.9 trillion) in 2024, rising 8.7%, with the United States (US) generating half of the increase. India’s sustained momentum highlights its pivotal role in reshaping global wealth dynamics.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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