(Image source from: Indians to get richer by 2018})

India is expected to get more millionaires by 2018. The ratio of millionaires in the country is expected to hike by 66 per cent by 2018, which means the country will have a whopping 302,000 millionaires in next five years. Currently, the country has 182,000 millionaires.

"As the world's largest democracy with a strong federal structure and vibrant markets, Indian wealth has seen rapid growth since 2000. Wealth per adult has risen by 135 percent from $2000 in 2000 to $4,700 in 2013 at an average annual rate of 8 percent," said Toral Munshi, head of India equity research at Credit Suisse.

According to a report released on global wealth on Wednesday, wealth per adult in Indiais expected to rise at a rate of 9.3 percent at $6,600 by 2018.

Noting that only 0.4 percent of India's population has a net worth of over $100,000 the report said that "however, due to the country's large population this translates into 2.8 million people".]

India has 254,000 members among the top 1 percent of global wealth holders which equates to a 0.5 percent share. the report said.

India has 1,760 ultra high net worth individuals with wealth over $50 million and 770 UHNWIs with more than $100 million, the report added.

While wealth has been rising in India, not every one has been part of this growth story and there is still a great deal of poverty.

AW: Suchorita Dutta Choudhury