Indian rupee

Number of ultra-high-net-worth individuals in India, having net worth of over USD 30 million, fell 7.5 per cent last year to 12,069 but will rise to 19,119 in the next five years, according to Knight Frank.
India's billionaire population rose to 161 in 2022 from 145 in the previous year and is estimated to rise to 195 individuals by 2027.
Real estate consultant Knight Frank's on Wednesday released 'The Wealth Report 2023'.
"India's ultra-high-net-worth individuals (UHNWI) with net worth over USD 30 million is estimated to rise by 58.4 per cent in the next five years from 12,069 in 2022 to 19,119 individuals in 2027," the consultant said.
The Indian high-net-worth individual (HNI) population, with asset value of USD 1 million and more, increased to 7,97,714 last year from 7,63,674 in 2021.
The number of HNIs will rise to 16,57,272 by 2027.
In 2022, the global population of UHNWIs declined by 3.8 per cent, after a record climb of 9.3 per cent in 2021, as the wealth and the investme

Photo: Bloomberg

Switzerland and Australia have the next highest entry points to the 1%, requiring net worth of $6.6 million and $5.5 million, respectively, according to data released Wednesday

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This was more than the global average where 4 in every 10 UHNWI saw wealth growth

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India, Credit Suisse said, saw a 12 per cent year-on-year (YoY) rise in total household wealth in 2021 to $14,225 billion

Illustration by Ajay Mohanty

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While India had 764,000 dollar-millionaires in 2019 by one account, just 316,000 filed tax returns declaring income of over $75,000. Large-scale I-T evasion may still be taking place, notes T N Ninan

rupee

The 11 per cent growth in financial wealth was at par with the compounded annual growth rate for the five years to 2020, the report by BCG said

These households have average saving of Rs 20-lakh per annum and allocate mostly towards physical assets such as primary residential property and automobiles

Mukesh Ambani

Forty Indians entered the billionaires' club in the pandemic-stricken 2020 to take the number of those in the coveted list to 177 people, a report said on Tuesday.

FILE PHOTO: A bird flies past a Reliance Industries logo installed on its mart in Ahmedabad. Photo: Reuters

Most of the gains came in the last five years, shows Motilal Oswal's annual wealth creation report

politicians, wealth, rich politicians

On an average, this would give the affluent class Rs 93,000 to live on per month during retirement, which is less than both their current income and wealth aspirations

Illustration: Binay Sinha

Geopolitical factors favour rise of the country as a rival centre of power co-existing, competing, and collaborating with other major powers

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Compared to a 1.4% rise in global wealth, India has seen a contraction of 0.8%; Indian household wealth is unevenly spread with an average $10,000 falling to the share of 96% of the country's adults

The report noted that while wealth has been rising in India, not everyone has shared in this growth

Key drivers of growth in high-net-worth individuals' assets through 2025 are expected to be India, China and the US

Valuations are expensive but will likely remain so, says the brokerage

Nomura

Senco Gold hit a new high of Rs 590.55, rallied 11% on the BSE in Wednesday's intra-day trade and now quotes at a hefty 86% premium over its issue price in little more than 2 months.

Jewellery, Art Work

Data Patterns (India) and Godfrey Phillips are the other two stocks which seem to be favourably placed on the charts, thus making a case for lower-risk at current levels.

Markets, bulls, bears, stocks, trading, technicals, market technical, technical analysis

Closing Bell on September 27, 2023: Among sectors, most of the key indices settled in the positive zone with the Nifty Pharma index gaining the most, up 1.2 per cent

BSE, NSE, Sensex, Nifty, stock markets

Stocks to watch on Wednesday, September 27, 2023: Shares of SignatureGlobal (India) and Sai Silk (Kalamandir) to debut on the bourses today.

Sensex, Nifty, BSE, NSE, stock market

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Bond yields slide as reports tout progress in global listing of Indian debt

Government bonds, bond yield

According to Ravi Nathani, an independent technical analyst, break of 19,336 on the Nifty could usher in a bearish trend.

NSE, national stock exchange, nifty50

The Congress will hold press conferences in 21 cities on Monday in which 21 women leaders will "expose the Modi government" on the issue of women's reservation, the party said.
While MP Rajani Patil will hold a press conference in Ahmedabad, Mahila Congress chief Netta D'Souza will hold a presser in Hyderabad.
Ranjeet Ranjan will hold a press conference in Bhubaneswar, Alka Lamba in Jaipur, Amee Yagnik in Mumbai, Ragini Nayak in Ranchi and Shama Mohamed in Srinagar, among others.
Congress' media and publicity department head Pawan Khera said press conferences will be held in 21 cities by 21 women leaders.
"Agenda - to expose the treachery by the Modi government in the name of women's reservation," he said in a post on X.

Congress, Congress manifesto

He made the remarks during a press conference at the United Nations headquarters in New York. Lavrov said that his upcoming visit to North Korea follows the agreement between Putin and Kim Jong Un

Russian Foreign Minister Sergei Lavrov speaks at a press conference, during the G20 summit, in New Delhi, Photo: Reuters

Notably, India recognised Armenia in 1991 and India's Ambassador in Moscow was concurrently accredited to Armenia, according to the Ministry of External Affairs

S Jaishankar, Ararat Mirzoyan

The Nijjar murder is fast unfolding into treacherous scenarios that could have tragic consequences for both nations. No one stands to gain from the ongoing face-off

India Canada

International credit agency Moody's Investors Service has made sweeping assertions against Aadhaar without citing any evidence, the Unique Identification Authority of India (UIDAI) said on Monday.
The UIDAI issued a strong rebuttal to Moody's Investors Service which claimed that the Aadhaar system often results in service denials and the reliability of biometric technologies, especially for manual labourers, in hot and humid climates is questionable.
"A certain investor service has, without citing any evidence or basis, made sweeping assertions against Aadhaar, the most trusted digital ID in the world. Over the last decade, over a billion Indians have expressed their trust in Aadhaar by using it to authenticate themselves over 100 billion times," the UIDAI said in a statement.
The unique id Aadhaar's custodian said that the report in question does not cite either primary or secondary data or research in support of the opinions presented in it.
"The investor service did not make any

Adhaar, UIDAI

Canada has updated travel advisory for its citizens in India asking them to "stay vigilant and exercise caution" in the context of recent developments as there are calls for protests and some "negative sentiment" towards Canada on social media.
Tensions flared between India and Canada following Canadian Prime Minister Justin Trudeau's explosive allegations of a "potential" involvement of Indian agents in the killing of Khalistani extremist Hardeep Singh Nijjar, 45, on his country's soil on June 18 in British Columbia. India had designated Nijjar as a terrorist in 2020.
India angrily rejected the allegations as "absurd" and "motivated" and expelled a senior Canadian diplomat in a tit-for-tat move to Ottawa's expulsion of an Indian official over the case.
"In the context of recent developments in Canada and in India, there are calls for protests and some negative sentiment towards Canada on social media. Please remain vigilant and exercise caution," the Canadian government said in an

India's rage is misplaced and hardly serves to endear the country to those appalled by the idea that it may have had a Canadian citizen killed

The National Stock Exchange (NSE) has already submitted a proposal to the market regulator Securities and Exchange Board of India (SEBI)

NSE, Stock market

India is considering importing cheetahs from northern Africa due to concerns that these big cats from Namibia and South Africa have developed a winter coat in the Indian summer, officials said on Wednesday.
According to the officials, one of the significant challenges faced during the first year of managing cheetahs in India was the unexpected development of winter coats by some cheetahs during the Indian summer and monsoon, in anticipation of the African winter (June to September).
Even African experts did not anticipate this, a senior forest official said.
The winter coat, combined with high humidity and temperatures, caused itching, leading the animals to scratch their necks on tree trunks or the ground. This scratching resulted in bruises and exposed skin, where flies laid their eggs, leading to maggot infestations and, ultimately, bacterial infections and septicemia, resulting in the deaths of three cheetahs, the official explained.
"Considering that cheetahs in northern and .

Cheetah, Kuno National Park, Madhya Pradesh

Google turned 25 on Wednesday and marked the silver jubilee occasion with a special doodle that depicted the journey of the company from its humble origin in a rented garage in the US to becoming a global search giant.
The 25th anniversary doodle also visually portrayed the evolution of the software bellwether's logo over these years.
The firm is recognised around the world for its vibrant logo that embrace colours and simplicity.
On Wednesday, visitors to Google's homepage were welcomed with a dynamically changing logo with one of these being 'G25GLE', the numerals 25 being interlooped in a way that it formed the two 'Os' in the company's name.
On a note shared on its website on Wednesday, the search giant said," Today's Doodle celebrates Google's 25th year. And while here at Google we're oriented towards the future, birthdays can also be a time to reflect. Let's take a walk down memory lane to learn how we were born 25 years ago...".
By fate or luck, doctoral students Sergey Bri

Google

Prime Minister Narendra Modi on Wednesday urged YouTube content creators to spread awareness on cleanliness, digital payment and the 'vocal for local' campaign through their work.
"Awaken the nation, initiate a movement," he said, noting that for 15 years he has been connecting to the country and the world through a YouTube channel.
Addressing the nearly 5,000 content and aspiring content creators, he said their product impacts people and they have an opportunity to make it even more effective.
"Together, we can easily teach and make crores of people understand important matters. Friends, although there are thousands of videos on my channel, the most satisfying for me has been when I talked to lakhs of students in our country through YouTube on subjects like exam stress, expectation management, productivity," he said.
Highlighting some topics, he said cleanliness (Swachh Bharat) became a big campaign in the last nine years with everyone contributing to it and children bringing an .

PM Modi addresses media on the first day of the special session of Parliament, in New Delhi, Monday, Sept. 18, 2023. (PTI Photo/Manvender Vashist Lav)

Reliance Brands Ltd in collaboration with Indian designer Rahul Mishra has launched a new global luxury label, AFEW Rahul Mishra.
The inaugural easy-to-wear collection was presented on Wednesday at the Palais de Tokyo in Paris among global retailers, fashion press and celebrities, Reliance Brands said in a statement.
Curated by renowned stylist Jenke Tailly, this collection features a lineup of women's clothing, complemented by a selection of jewellery, bags, and shoes.
In the coming months, AFEW Rahul Mishra will be available on AFEW.RahulMishra.in and at Rahul Mishra flagship stores, followed by exclusive AFEW Rahul Mishra stores in key fashion cities.
"The launch during Paris Fashion Week propels the brand onto a global stage, reaching the most discerning global audience looking for functional everyday pieces elevated by a couturier's touch," said Darshan Mehta, MD of Reliance Brand.
RBL is a subsidiary of Reliance Retail Ventures Ltd (RRVL), the holding company of Reliance ...

Reliance Retail

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