Indian wealth management sector set for rapid growth

A new Celent Communications report, Overview of the Indian wealth management market, notes that the Indian wealth management industry currently shows a 30% growth rate, and the consultancy expects the sector to reach $1 trillion in assets under management by 2012 (see graph 1). Furthermore, Celent anticipates that wealth management operations will account for up to 37% of revenues for full-service financial institutions active in India by 2012.

Behind the Indian wealth management sector's pen