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India is at the cusp of a massive expansion of wealth. This has opened up a compelling career option.
The world has also moved in leaps & bound over the last 5 years, mainly because of the advancement of the digital age. With the increasing ownership of smartphones, the reach of technology has been quick, flawless and bewildered many. With the spread of knowledge and education, the Indian economy has moved multidirectional. India's young population, wherein ~45% of the population is under the age of 25 years, is bubbling with enthusiasm and aspiration. Employment and entrepreneurship opportunities have also improved for the deserving.
Indian annual real GDP has been growing at ~6.5% (till the covid19 affected era). The strong growth has been primarily based on the following pillars:
- Rise of the services sector
- Technological advancement
- Efficiency of the manufacturing sector
- Infra spending
- Demographic dividend
- Inclusive growth & higher education
Source RBI
Amidst rapid economic growth, there has been a rise in per-capita income and per-capita wealth of the population. The rise in per-capita wealth has outpaced the steady increase in population. The average wealth per household has grown over the years. The reasons for growth in household wealth over the last 2 decades in India has been led by
- Rising Personal Income & Employment Opportunities
- Inheritance
- Household Gold
- Real Estate
- Investment
- Stock Options
