Despite being the year of elections, nearly 28 per cent of India’s rich are hopeful of easy wealth creation this year, a survey said.
Despite being the year of elections, nearly 28 per cent of India’s rich are hopeful of easy wealth creation this year, a survey said. Globally, 12 per cent of the respondents, on average, are optimistic about the same in 2019, said Knight Frank survey. The economic and political factors would be favourable for creating wealth this year, news agency PTI reported citing the Attitudes Survey of ultra high net worth individuals (UHNWI) by Knight Frank. The number is up 3 per cent from 2018.
However, 36 per cent of the Indians are of the view that creating wealth would be challenging task this year as against 68 per cent of the global average. It shows India shares a highly positive outlook in this regard, according to the survey.
“Despite being election year, Indian UHNWIs are more optimistic of the country’s growth journey and expect wealth to increase in the year 2019. This is a solid testimony of strong economic fundamentals built in the country owing to the various economic reforms and structuring”, the survey added.
The survey said that India continues to be one of the major growth engines of the global economy. The improvement in the indices such as ease of doing business among others have ensured that the investors have a positive outlook on the Indian economy.
“This in juxtaposition to the uncertainty around US-China trade tensions, a China economic slowdown and Brexit have impacted overall global growth sentiment but has further strengthened Indian UHNWIs outlook for domestic markets,” news agency PTI reported citing Shishir Baijal, chairman and managing director, Knight Frank India as saying.