New Delhi, Oct. 24 -- Wealth per adult in India rose 0.6% to USD 17,420, despite covid-19 bringing economic activities across the nation to a standstill with gross domestic product (GDP) contracting 23.9% in the first quarter of the current fiscal, shows the Global Wealth Report 2020 by Credit Suisse. As per the report, wealth per adult in India stood higher at USD 17,299 as on 31 December 2019, from USD 14,569 in June 2019.

The Credit Suisse Research Institute attributed the upgrade to a change in its entire data series based on estimates from Karvy Private Wealth, an arm of the Karvy Group.

"In the past, we estimated Indian wealth figures from a limited amount of survey data. This year we had balance sheet data for financial assets fo...