Number of Indian high-net-worth people (HNWIs), these having property greater than $10 million, rose 6% final 12 months to 85,698, in accordance with Knight Frank.
Global property advisor Knight Frank on Wednesday (March 5, 2025) launched its ‘The Wealth Report 2025’, which estimated the HNWI population in India at 85,698 in 2024, as towards 80,686 in the previous 12 months.
The number is predicted to rise to 93,753 by 2028, reflecting India’s increasing wealth panorama, the advisor stated.
The rising pattern of HNIW population highlights the nation’s sturdy long-term financial development, rising funding alternatives, and evolving luxurious market, positioning India as a key participant in world wealth creation.
India’s billionaire population
The billionaire population has additionally seen a powerful year-on-year development in 2024.
“India is now home to 191 billionaires, of which 26 joined the ranks in just the last year, which was pegged at just 7 in 2019,” the advisor stated.
Also learn | Billionaire wealth soars 3 times quicker by $2 trillion in 2024: Oxfam
The mixed wealth of Indian billionaires is estimated at $950 billion, rating the nation third globally, behind the U.S. ($5.7 trillion) and Mainland China ($1.34 trillion).
“India’s growing wealth underscores its economic resilience and long-term growth potential. The country is witnessing an unprecedented rise in high-net-worth individuals, driven by entrepreneurial dynamism, global integration, and emerging industries,” Shishir Baijal, Chairman & Managing Director, Knight Frank India, stated.
This enlargement is not only in scale but additionally in the evolving funding preferences of India’s elite, who’re diversifying throughout asset lessons, from actual property to world equities, he added.
“In the decade ahead, India’s influence in global wealth creation will only strengthen,” Mr. Baijal stated.
Published – March 05, 2025 03:21 pm IST
