Luxury Lifestyle of India’s Super Rich
The benchmark set for being considered super rich in India is an average net worth over past ten years of 250 million rupees which is equivalent to $5.6 million. The super rich club is growing rapidly and they had 81,000 members in 2011-12. A study was conducted jointly by Kotak Wealth Management and ratings agency Crisil Ltd. According to their report the number of super rich in India will grow to 286,000 over a five year period. The report which is titled Top of the Pyramid describes in detail their buying behavior and preferences. The billionaires and the super rich in India have been unaffected by the slowdown of the Indian economy. They also want to reaffirm that they are unaffected. They are conscious about their lifestyle and would do anything to maintain it. For them the increase in expenses is justified as the list of must have items has grown longer. Things that were considered a luxury have become a necessity. Cars: Status Symbol The report that was released this week w...