India has more rich households than most European nations

[OhioChick]

8 Oct, 2011, 07.05AM IST, ET Bureau

LONDON | NEW DELHI: India, the world's second most-populous country, has more wealthy households than most European countries, including Germany and France.

The country, with 3 million affluent households, is fast emerging as a serious centre of affluence along with China, says the largest ever global affluence study by research firm TNS. "India and China have already surpassed major European markets like Germany and France.

It's interesting to see that the entrepreneurial spirit of people in these markets is already paying off in terms of personal wealth," TNS Director, Business and Finance, Reg Van Steen said.

TNS's Global Affluent Investor study-which interviewed 12,000 people across 24 markets including China, Brazil and India-defines affluent households as those with more than $100,000 (around Rs 50 lakh) surplus to invest. Also, the rich is getting richer.

More: http://economictimes.indiatimes.com/news/international-business/india-has-more-rich-households-than-most-european-nations/articleshow/10272334.cms

[dkf]

1. Sounds like they need to raise their top tax rate to 90%.

Nip their inequality in the bud. I'm sure it would do wonders for their economy.

[KamaAina]

2. Bogus reporting if ever I saw it

India has more households, about three or four times more, than all of Europe combined. So it shouldn't be a surprise to anyone that, as India joins the top tier of developing nations, it would have more wealthy households than any one European country -- though still an order of magnitude lower per capita.

[La Lioness Priyanka]

6. yeah. bogus reporting and disingenuous posting this article

as well.

there are over 1 billion people in india and about 731 million in europe.

[muriel_volestrangler]

8. Bogus reporting, when the opening sentence says "world's second most-populous country"?

And that was put in the excerpt as well, so your accusation of a DUer being 'disingenuous' seems wrong too. The article also goes on to point out the 'affulent'/'rich'/'wealthy' (assuming they mean the same group with all 3 names) are about 1% of India, compared with 27% in the USA. It seems to me you didn't bother reading before criticising.

[enki23]

3. ok, so India's population is about 30+% greater than all of europe

and it has a comparable number of wealthy households as some single european nations. i suppose maybe that's a good thing. they'll have less to worry about in a hypothetical guillotine shortage.

[JDPriestly]

4. Per capita income less than $1,500.

US per capita income less than $45,000.

http://en.wikipedia.org/wiki/List_of_countries_by_GDP_%28nominal%29_per_capita

[formercia]

5. Lots of cheap labor to exploit

Money doesn't grow on trees. That money is made off the backs of the working poor.


The boys are setting up shop in India for that very reason. Lots of cheap labor, cannon fodder and Nukes.

[La Lioness Priyanka]

7. true. nt