Indian households added to their wealth at a faster clip in 2024, with gross financial assets rising 14.5 per cent during the year — marginally higher than the 14.3 per cent growth seen in 2023 — driven largely by stronger investment in securities, a new report has said.

Securities led the charge with a 28.7 per cent increase, while insurance and pensions — holding a larger portfolio share of 32.5 per cent — grew by 19.7 per cent. Bank deposits, still the dominant asset class at 54 per cent, rose by 8.7 per cent, the Allianz group, one of the world’s largest insurance and asset managers, said in the report.

Adjusted for inflation , financial assets grew a robust 9.4 per cent, lifting purchasing power 40 per cent above pre-pandemic levels, an impressive contrast to Western Europe, where

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