"Although the country's real GDP growth decelerated from 9.4 per cent in 2006, current growth levels are considered more stable and sustainable. Market capitalisation growth more than doubled from roughly 50%, accounting for greater HNWI gains," says the World Wealth Report.

India's recent growth has been driven by the technology, financial services, property, construction and infrastructure sectors. The Bombay Stock Exchange and the National Stock Exchange were ranked among the world's top 12 exchanges by the end of 2007, boosted by initial public offering markets and heightened international interest, the report said.