Indians prefer to invest in property, says CLSA study.

According to a study by international brokerage firm, CLSA titled, ‘Mr & Mrs India’, investment in land and properties account for 51 per cent of the wealth of Indian household, with the balance 21 per cent held in cash and 9 per cent in fixed deposits. Only 3 per cent of total savings (which is 8 per cent of financial assets) lies in equities or mutual funds.

This is a striking find because, despite the fact that India imported 317 tons of gold in the second quarter of 2007 (equal to half the global mine output in the same quarter); jewellery does not figure anywhere as a significant holding.