India has 4% of global middle-class, bottom 70% hold only 20% of private wealth: Report

A report prepared by Credit Suisse, a Switzerland-based global bank, has predicted that economic inequality among people and countries will rise in the future. The world has over 32 million millionaires who account for 0.7 percent of the adult population but control 41 percent of total assets. Over two-thirds of the adult population accounts for merely 3 percent of global wealth. 

The trend holds true in India as well. Out of 393 million high wealth individuals in the world, 2.8 million are in India (0.7 percent). 90 percent of the people of India have wealth less than the 10000-dollar mark.

In the wealth pyramid, said the old report, 70 percent of Indian families own just 20 percent of all private wealth. In China, 29 percent of wealth is held by the bottom 70 percent of the population. In the United States, this ratio is even more dismal -- the bottom 70 percent hold just 7 percent. In Germany, this figure is just 13 percent.

Per the report, globally, one billion individuals with net worth between 10,000-100,000 dollars comprise the world's middle-class. The total net worth of these people is 33 trillion dollars. 

India hosts just 4 percent of the global middle class. China, on the other hand, contributes nearly one-third of this number.  

The world has 98,663 ultra-high net worth individuals who have net worths of more than 50 million dollars. 

1151 individuals have a net worth of over 1 billion dollars. 

India has 1760 such individuals, China 5830, Brazil 1700 and Japan 2890.