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Gold is half of Indians' physical assets, ahead of real estate, study finds
Indians Still Fancy Gold, Study Says
By a Special Correspondent
The Hindu, Chennai, India
Wednesday, December 13, 2016
The total wealth held by individuals in India rose 8.5 percent to Rs.304 lakh crore in the financial year 2015-16 and is expected to further increase to Rs.558 lakh crore over the next five years, according to the India Wealth Report 2016 by Karvy Private Wealth.
According to the study, individual wealth in physical assets stood at Rs.132 lakh crore, having grown 10.32 percent in fiscal 2016 compared to a 2 percent decline in fiscal 2015. Gold accounted for a 49.83 percent share among physical assets, followed by real estate at 41.94 percent and diamonds at 6.07 percent.
Among financial assets, Indian individuals preferred the safe avenues of fixed deposits and bonds with a 21.40 percent share, followed by direct equity (17.23 percent), insurance (14.81 percent), savings deposits (12.55 percent), and cash (9.67 percent). ...
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