Credit Suisse: The richest 1 percent of Indians have 41 percent of the nation’s wealth

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The Credit Suisse Global Wealth Report for 2022 says much of the growth of household wealth this century in the US and India has bypassed the lower and middle wealth tiers 

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Highlights India is among the few countries where the richest 1 percent own more than two-fifths of the nation’s wealth The top 10 percent in India own 72.5 percent of the country’s wealth The bottom half own 3 percent of the wealth 75 percent of people in India have wealth below USD 10,000; 0.1 percent have more than USD 1 million Wealth inequality has been rising High inequality limits the size of the market High inequality increases savings and fuels the stock market  Credit Suisse’s latest Global…

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