India's households miss global shift to financial assets: UBS report

Global personal wealth experienced its fastest growth in years in 2025, with an overall increase of 10.8% in U.S. dollar terms, according to the UBS Global Wealth Report 2026. This significant rise was propelled by robust financial markets and substantial gains in non-financial assets, indicating a worldwide trend toward increased prosperity.

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The world became significantly wealthier again in 2025, and at a rapid pace. Personal wealth rose by over 10%, lifted by strong markets and rising non-financial assets.

However, the report highlights India as a notable exception to this global shift. Indian households demonstrate a continued, strong reliance on property and other physical assets for wealth creation. Financial assets constitute a mere 25.8% of gross wealth in India, placing it among the lowest proportions in the 56 markets surveyed. This figure starkly contrasts with countries like Sweden, Israel, and Taiwan, where financial assets comprise over 80% of household wealth, and the United States, where it stands near 79%.

Despite this divergence in asset composition, Indian households exhibit a comparatively modest level of debt. Debt accounts for only 8.2% of gross wealth in India, a significantly lower figure than in many developed economies. For instance, debt exceeds 20% in Switzerland and the United Kingdom, and is around 11% in the U.S. and Germany.

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On the opposite end of the scale we find a value below 20% in Turkiye, below 26% in India, just above 31% in Spain and close to 44% in Germany.

The findings underscore a distinct wealth profile for Indian households, which remains anchored primarily in non-financial assets. This pattern differs markedly from that of numerous developed economies, where financial assets play a dominant role in household wealth accumulation.

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vast variations in the level of debt