Gold, Real Estate Make up More than 90% of What Indians Invest in, Wealth Report Says
Image for representative purposes. (Photo: Reuters)
New Delhi: Over 90% of the money tied up in physical assets in India is in Gold and real estate according to the India Wealth Report.
The report, released by the Karvy group, says that Indians held Gold worth Rs. 65.9 lakh crore while investment in real estate holdings constituted a cumulative Rs 55.47 lakh crore.
The investment in these two assets constitute almost 92% of the investments in physical assets (gold, real estate, silver, diamonds etc).
The report confirms what many have known: The lure of the yellow metal remains strong for Indians, which is one of the top importers of Gold.
When it comes to financial assets Fixed deposits and bonds takes top spot at Rs 36.8 lakh crore, or 21.4% of all financial assets (stocks, bonds, cash, insurance, provident fund, pensions etc). Interestingly, Cash constitutes only 9.7% of investments.
Over the next five years, Financial assets are expected to grow from their current 56.5% in the total investment pie to 61% while physical assets will shrink from 43.5% to 38.8%.