India’s Super Wealthy Nos. Expand By 8.8 pc
India is now home to 3,78,810 millionaires worth $1.5 trn
India’s Super Wealthy Nos. Expand By 8.8 pc
In contrast, the global high-net-worth individuals (HNWIs) population rose by 2.6 per cent in 2024, according to Capgemini Research Institute’s ‘World Wealth Report 2025’
New Delhi: India saw an 8.8 per cent rise in high-net-worth individual (HNWI) wealth in 2024, witnessing 3,78,810 millionaires with a total wealth of $1.5 trillion by the end of last year, according to a report released on Wednesday.
India also had 333,340 millionaires ‘next door’ at the end of 2024, with a wealth of $628.93 billion, according to the Capgemini Research Institute’s ‘World Wealth Report 2025’. Moreover, India had 4,290 ultra HNWIs at the end of 2024, with a combined wealth of $534.77 billion.
While 85 per cent of the Indian next-gen HNWIs plan to switch from parents’ WM (Wealth Management) firm within 1-2 years, as compared to 81 per cent of the surveyed global next-gen HNWIs, 51 per cent of them cite services unavailable on their preferred channels as a reason to switch WM firms.
About 41 per cent of the surveyed Indian next-gen HNWIs cite ineffective digital tools to conduct transactions as a reason to switch WM firms, said the Capgemini report.
By 2030, 98 per cent of next-gen HNWIs in India are planning to increase their offshore assets by more than 10 per cent. This greater focus on offshore investments comes from better investment options (55 per cent), better wealth management services (65 per cent), better market connectivity (54 per cent), better tax regulations and economic and political stability (49 per cent). The report revealed that the global high-net-worth individuals (HNWIs) population rose by 2.6 per cent in 2024. This increase was driven by the growth in the population of ultra-high-net-worth individuals (UHNWIs), which grew by 6.2 per cent, as strong stock markets and AI optimism boosted portfolio returns. The data indicates that alternative investments, such as private equity and cryptocurrencies, are now an established presence in HNWI holdings, representing 15 per cent of their portfolios.
