Merill Lynch says that there are over 126,000 Indians with investable assets of over 1 million dollars. Based on people I’ve met in the last 1.5 years, I believe that even with the most conservative estimate, they are off target by a factor of 5. There are hundreds of thousands of dollar-millionaires in India who would never catch the eye of a white-collar professional.
No survey can ever count all of them.
