Synopsis
This report is the result of Company’s extensive research covering the UHNWI population and Wealth Management industry in India. It provides market size and forecasts of the UHNWI population. By leveraging the Company HNWI Database, it provides key demographic breakdowns such as city specific data.

Executive Summary
India has one of the highest UHNWI growth rates in the world. This report provides historical trends and projections of the volume and wealth of India’s UHNWIs by city and sector. The report also reviews these findings in an analysis of India’s Wealth Management and Private Banking sector, and the opportunities therein.

Scope
The report features:
• Independent market sizing of India’s UHNWI
• Most up to date and thorough analysis of the demographic breakdown of India’s UHNWI, including city and sector specific data
• Volume and wealth trends from 2007 to 2011 • Volume and wealth forecasts to 2015
• Details of the development, challenges and opportunities of the Wealth Management and Private Banking sector in India
• City specific ratings
• Current insights into the drivers of HNWI wealth
• Family office information

Reasons To Buy
• The Company HNWI Database is an unparalleled resource and the leading database of its kind. Compiled and curated by a team of expert research specialists, the HNWI Database comprises up to one hundred data-points on over 100,000 HNWI around the world. With the HNWI Database as the foundation for our research and analysis, we are able obtain an unsurpassed level of granularity, insight and authority on the HNWI universe in each of the countries and regions we cover.
• Comprehensive forecasts to 2015.
• Information on sources of wealth for UHNWIs in each major city, by industry and other measures.

Key Highlights
• In 2011, there are 1,577 UHNWIs in India who, together, hold a total of US$431 billion in wealth. UHNWI volumes increased by a significant 46% between 2007 and 2011, while wealth growth was more static due to a drop in billionaire wealth during the period.
• Going forward, the number of Indian UHNWIs will increase by 96% to reach 3,087 individuals by 2015 with UHNWI wealth rising to US$856 billion.
• The number of UHNWIs in Pune, grew by the largest margin (68%) over the review period from 2007 to 2011, aided by both its proximity to Mumbai and also by robust growth in the local automotive, manufacturing and technology sectors.
• Mumbai’s UHNWI numbers also increased substantially (59%) over the review period as the city benefited from its status as India’s financial center and leading import-export and commercial hub.

1 Introduction
1.1 What is this Report About?
2 Wealth Sector Fundamentals
2.1 Economic Background to the Wealth Sector
2.2 Political Background to the Wealth Sector
2.3 Benchmarking Indian Wealth in Context
3 Findings from the Company UHNWI Database
3.1 UHNWIs: market sizing
3.2 UHNWIs: market size by volume
3.3 UHNWIs: market size by value
3.4 UHNWIs: market size by per-capita net worth
3.5 UHNWIs: demographic breakdown
3.5.1 UHNWIs: demographic breakdown by age
3.5.2 UHNWIs: demographic breakdown by region
3.5.3 Sources of UHNWI wealth
3.5.4 Industry
3.5.5 Industry performance
3.5.6 Industry forecasts
3.5.7 City performance
3.5.8 UHNWIs’ source of wealth: inherited vs earned vs self-made
3.6 HNW Family Wealth
3.6.1 Source of HNW family wealth
3.6.2 HNW family regional distribution
3.6.3 Wealthy families and company links
3.6.4 Philanthropy and wealthy families
3.7 Expat Indian Wealth – The NRIs
4 Competitive Landscape of the Wealth Sector
4.1 Competitive Structure
4.2 Wealth Managers and Private Banks
4.2.1 Wealth managers
4.2.2 Private banks
4.2.3 Foreign banks and MNCs
4.2.4 Joint ventures
4.2.5 Domestic providers
4.3 Leading Companies in the Wealth Management Industry
4.4 Family Offices
4.4.1 Multi-family offices
4.4.2 Single-family offices
4.5 Trusts
4.6 Challenges and Opportunities for the Wealth Sector in India
4.6.1 Regulatory
4.6.2 Tax
4.6.3 Human resources
4.6.4 Move to self-management
4.6.5 Underdeveloped product offerings
4.6.6 Demands of intergenerational wealth transfer and younger clientele
4.6.7 Philanthropy
5 Appendix
5.1 Banking Regulations, Taxes and Laws
5.1.1 Regulations on equity capital
5.1.2 Limitation on amount of loans
5.1.3 High currency reserve ratio (CRR) and statutory liquidity ratio (SLR)
5.1.4 Limitation on borrowings from overseas headquarters
5.1.5 Interest rate trends for lending and borrowing
5.1.6 Taxes on investments
5.1.7 Investment limits
5.2 Key Economic Trends and Drivers
5.2.1 National wealth indicators
5.2.2 Financial market indicators
5.2.3 Banking indicators
5.2.4 Trade indicators
5.2.5 Other indicators
6 About Company


List of Tables
Table 1: HNWI Wealth Band and Group Definitions
Table 2: UHNWIs – Volume by Wealth Band, 2007–2015
Table 3: UHNWIs – Wealth by Wealth Band (US$ Billion), 2007–2015
Table 4: UHNWIs – Per-Capita Net Worth (US$ Million), 2007–2015
Table 5: UHNWIs – Cities by Sector, 2007–2011
Table 6: UHNWIs – Emerging Cities by Sector, 2007–2011
Table 7: UHNWIs – Company Rating of Private Banking Potential
Table 8: HNW Family Wealth – India’s Wealthiest Families, 2011
Table 9: Wealth Management Industry – Main Companies Operating in India
Table 10: Wealth Management Industry – Major SFOs and MFOs Operating in India
Table 11: INR to US$ Moving Annual Average Exchange Rate, 2006–2015
Table 12: Real GDP Growth Rate, 2006–2015
Table 13: GDP Per Capita, 2006–2015
Table 14: Gross Savings as a Percentage of Real GDP, 2006–2015
Table 15: Domestic Market Capitalization, 2006–2010
Table 16: Housing Price Index, 2006–2010
Table 17: Commodity Indices, 2006–2015
Table 18: Foreign Direct Investments, 2006–2015
Table 19: Investment Inflows by FIIs in Equity Products, 2006–09
Table 20: Inflation Rate, 2006–2015
Table 21: Repo Rate, 2006–2015
Table 22: Balance of Payments, 2006–2010
Table 23: Stock Market Performance, 2006–2010
Table 24: External and Fiscal Debt as a Percentage of GDP, 2006–2015
Table 25: HNWI Wealth vs GDP, 2006–2010
Table 26: Capital Formation as a Percentage of GDP, 2006–2015
Table 27: Disposable Income as a Percentage of GDP, 2006–2015

List of Figures
Figure 1: HNWI Wealth Band Definitions
Figure 2: UHNWIs – Analysis of Wealth Band Evolution, 2007–2015
Figure 3: UHNWIs – Volume by Wealth Band, 2007–2015
Figure 4: UHNWIs – Wealth by Wealth Band (US$ Billion), 2007–2015
Figure 5: UHNWIs – Per-Capita Net Worth (US$ Million), 2007–2015
Figure 6: UHNWIs – Age Distribution, 2011
Figure 7: UHNWIs – Regional Distribution by City, 2011
Figure 8: UHNWIs – Distribution by Primary Source of Wealth, 2011
Figure 9: UHNWIs – Sector Performance, 2007–2011
Figure 10: UHNWIs – Sector Forecasts, 2011–2015
Figure 11: UHNWIs – City Performance, 2011
Figure 12: UHNWIs – City Performance, 2011
Figure 13: UHNWIs – Distribution by Source of Wealth, 2011
Figure 14: HNW Family Wealth – Distribution by Source of Wealth, 2011
Figure 15: HNW Family Wealth – Regional Distribution, 2011
Figure 16: NRIs – UHNW NRIs: Regional Distribution, 2011
Figure 17: Wealth Management Industry – Structure
Figure 18: INR to US$ Moving Annual Average Exchange Rate, 2006–2015
Figure 19: Real GDP Growth (%), 2006–2015
Figure 20: GDP Per Capita, 2006–2015
Figure 21: Gross Savings as a Percentage of Real GDP, 2006–2015
Figure 22: Domestic Market Capitalization, 2006–2010
Figure 23: Housing Price Index, 2006–2010
Figure 24: Commodity Indices, 2006–2015
Figure 25: Foreign Direct Investments, 2006–2015
Figure 26: Investments of FIIs in Equity Products, 2006–09
Figure 27: Inflation Rate, 2006–2015
Figure 28: Repo Rate, 2006–2015
Figure 29: Balance of Payments, 2006–2010
Figure 30: Stock Market Performance, 2006–2010
Figure 31: External and Fiscal Debt as a Percentage of GDP, 2006–2015
Figure 32: HNWI Wealth vs GDP, 2006–2010
Figure 33: Capital Formation as a Percentage of GDP, 2006–2015
Figure 34: Disposable Income as a Percentage of GDP, 2006–2015

Companies Mentioned

Housing Development Finance Corporation (HDFC)
ICICI Bank
Axis Bank
Reliance Money
Yes Bank
IIFl Private Wealth Management
Kotak Mahindra Bank
Karvy Private Wealth
Anand Rathi Private Wealth Management
BMA Wealth Creators Private Limited
Hong Kong and Shanghai Banking Corporation Limited (HSBC)
DSP Merrill Lynch Limited (India)
Religare Macquarie Private Wealth
CITI Private Bank
DBS Bank (India)
Edelweiss Capital
Morgan Stanley India
Standard Chartered Bank
Credit Suisse (India)
Barclays Wealth (India)
Royal Bank of Scotland
BNP Paribus
SG Private Banking (India)
UBS AG (India)
Deutsche Bank (India)
ING Vysya Bank
SMC Wealth
Azim Premji Investments
Roa Family Office
Mittal Family Office
Godrejs Family Office
Ambani Family Office
Khimji Family Office
Catamaran Venture Capital (N Murthy)
Bharti Foundation
Bajaj Trust
Evergreen Family Office
Bodhitree Family Office
Altamount Capital
Metis Family Office