Chennai: Indians feel political and economic factors in the country will be favourable for wealth creation and protection this year, a report has said.
According to the ‘Attitudes’ survey conducted by property consultancy firm Knight Frank, Indian respondents amounting to 28 per cent were optimistic about wealth generation, more than twice of the global average that stands at 12 per cent.
The survey was conducted to echo the sentiments of ultra high-net-worth individuals (UHNWI) about creating and protecting their wealth.
Meanwhile, 36 per cent expect wealth creation might become difficult as opposed to 68 per cent of global respondents, due to domestic factors in their country of residence, indicating a largely positive outlook in the year for India.
In the context of global markets, around 56 per cent of all respondents from India said it would be more difficult to create and protect wealth due to global factors this year as opposed to 62 per cent of global respondents, said the report.
Taking stock of the developments from previous year, the survey noted that globally, 70 per cent of respondents said the political and economic environment within their country of residence made it difficult for them to create and protect their wealth in 2018 compared to 2017.
“Despite being election year, Indian UHNWIs are more optimistic of the country’s growth journey and expect the wealth to increase in the year. This is a solid testimony of strong economic fundamentals built in the country owing to the various economic reforms and structuring. India remains one of the key growth engines of the world economy which, coupled with improving indices like ease of doing business etc. have further ensured investors to have a positive outlook towards the country,” said chairman and MD, Knight Frank India, Shishir Baijal.