ABSTRACT
India’s wealth vis-à-vis the world has grown simultaneously (Merrill Lynch and Capgemini 2005). No matter whether India lags far behind in terms of per capita income, the number of her high-net-worth individuals (HNWI, each holding at least US$1million in financial assets) exceeds that of such global business hubs as Singapore and Hong Kong, the oil-rich United Arab Emirates, middleincome South Africa, and is narrowing the gap with the “Miracle on the Han River”, i.e. the high-tech economy of South Korea. The HNWI population growth in India was even higher than that of the early developed countries (EDCs) such as Spain, the UK, or even the US.2
