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India’s personal wealth may grow at 13%: Report

India’s personal wealth may grow at 13%: Report

Finance
NEW DELHI: The country’s personal wealth is expected to grow at a CAGR of 13% to $ 5 trillion by 2022 from $ 3 trillion in 2017 to get the rank of 11th wealthiest nation globally by 2022, improving its rank by four places from 2017, said a report by Boston Consulting Group. India’s personal wealth was estimated to be $ 3 trillion in 2017. The US leads the chart in terms of total personal wealth with $ 80 trillion in 2017, which is projected to touch $ 100 trillion by 2022. China is ranked second, with a total personal wealth of $ 21 trillion, which is expected to more than double to $ 43 trillion by 2022. The report noted that India constitutes the second largest pool of wealth from emerging markets in the coming years, with $ 2.2 billion. It is the fifth largest Asian market in number of
Plans to privatise India’s flag-carrier have run into turbulence

Plans to privatise India’s flag-carrier have run into turbulence

Finance
AFTER a plane crash, air-safety investigators are dispatched to the wreckage site to find out what went wrong and ensure it never happens again. Their financial counterparts have a similar job to do with the Indian government’s proposed sale of Air India. Mooted for nearly a year, the first round of preliminary bids ended on May 31st having attracted not a single offer.Bureaucrats running the divestment process had expected many suitors. Domestic aviation is booming. Air India has a modern fleet, an enviable brand and valuable landing rights in many foreign airports. No fewer than 160 queries had come in from interested parties, said to include local and foreign airlines as well as Tata, a conglomerate. Might a bidding war ensue, some wondered?Not quite. Bidders were seemingly never ...