India’s high-net-worth individual (HNWI) population—those with assets exceeding $10 million—grew by 6% in 2024, reaching 85,698, according to Knight Frank’s Wealth Report 2025. This marks a significant jump from 80,686 in the previous year. The number is projected to rise further to 93,753 by 2028, reflecting India’s expanding wealth landscape.
Billionaire Count Sees Rapid Growth
India is now home to 191 billionaires, with 26 new additions in 2024 alone, compared to just 7 in 2019. The combined wealth of Indian billionaires is estimated at $950 billion, making India the third-richest nation after the United States ($5.7 trillion) and China ($1.34 trillion).
Drivers of India’s Wealth Boom
The surge in wealthy individuals is fueled by:
- Strong economic growth
- Expanding investment opportunities
- Emerging luxury markets
- Entrepreneurial dynamism and global integration
Shifting Investment Trends
India’s elite are diversifying their investments beyond traditional assets, focusing on real estate, global equities, and alternative investments.
India’s Role in Global Wealth Creation
Knight Frank’s Chairman, Shishir Baijal, believes India’s influence in global wealth creation will continue to strengthen in the coming decade, further solidifying its position as a key economic powerhouse.
