More than 20% increment in High Networth Individuals in India

As per an Asia-Pacific Report released by Merril Lynch, despite the economic slowdown there has been steady increase in High Net Worth Individuals in Asia-Pacific markets.  In India the numbers have risen almost by 21%.

A High Net Worth has been defined as one whose investible assets (excluding primary residence, collectables, consumer durables, etc) of more than $ 1 Million. Most of these individuals have been investing in equities, luxury items, etc. with very little in philanthropy.

Perhaps this is the challenge for us in the Development sector to tap not only such HNIs but also several other high income individuals who may not have such large wealth, but could still contribute regularly to the philanthropic causes. As Bain report 2012, which conducted a survey of 400 HNIs, it indicated that most young (under 30) individuals would like to give back to the society and often are not aware of how to go about the same. Thus the ground is fertile to tap such young persons, challenge is with the Sector how it manages the same.

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