India’s Nouveau Riche

The rest of the world may be absorbed by a global financial crisis, but you wouldn’t know it in New Delhi’s Luxury Stores. Brands such as Hermès, Cartier, Christian Dior, Louis Vuitton, Armani, Dolce & Gabbana and Versace, have unloaded their merchandise there to chase India’s growing class of super-rich. The number of Indians with more than $1 million in assets has grown since last year by 22%, to 167,000, more than any other country in Asia, according to the 2008 CapGemini Merrill Lynch Asia Pacific Wealth Report, Time Magazine reports. Get the full story at

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