India’s household wealth is booming, making it one of the world’s fastest-growing markets for financial assets. In 2024, these assets jumped 14.5 percent from the previous year, according to the latest Allianz Global Wealth Report 2025.
This marks the strongest growth in eight years, driven largely by India’s expanding middle class. Over the past two decades, real per capita financial assets in India have grown five times over, putting the country at the top of emerging economies for wealth building.
Securities led the charge last year, surging 28.7 percent, while insurance and pension assets climbed 19.7 percent. Bank deposits, which make up 54 percent of Indian household portfolios, rose a solid 8.7 percent. When you adjust for inflation, financial assets increased 9.4 percent, boosting purchasing power 40 percent higher than before the pandemic hit.
For context, Western Europe’s purchasing power sits 2.4 percent below 2019 levels. In India, net financial assets per person reached $2,818 in 2024, a 15.6 percent rise from 2023. Liabilities grew more modestly at 12.1 percent, keeping household debt steady at 41 percent of GDP.
The report also sheds light on wealth inequality, noting no real global progress over the last 20 years. The top 10 percent of people worldwide still hold about 60 percent of household wealth. In India, that figure stands at 65 percent in 2024, up from 58 percent in 2004.
Looking globally, U.S. households accounted for 47 percent of worldwide wealth growth over the past decade, followed by China at 20 percent and Western Europe at 12 percent. Securities wealth around the world grew nearly 12 percent in 2024—twice the rate of bank deposits or insurance and pension assets.
Allocation habits vary widely: North Americans put 59 percent of their portfolios into securities, compared to 35 percent in Western Europe and just 13 percent in India. As India’s economy keeps humming, these trends highlight its rising role in global wealth dynamics.
Stay informed on all the latest news, real-time breaking news updates, and follow all the important headlines in world News on Latest NewsX. Follow us on social media Facebook, Twitter(X), Gettr and subscribe our Youtube Channel.
