Only India, China insulated from wealth erosion due to COVID-19: Credit Suisse Report

Share on WhatsApp New Delhi: India and China are the only two major countries that remain insulated from the erosion of wealth due to the COVID-19 pandemic. Wealth per adult in India stood at $17,300 at the end of 2019 after a year of moderate growth and was $17,420 at end-June 2020, showing some growth despite the pandemic. Wealth growth is expected to be strong through the remainder of 2020 and 2021, as per the Credit Suisse Global Wealth Report 2020. ࢀœWhile average wealth in India rose by only 0.7 per cent in the first half of 2020, we estimate…