India’s Billionaire Population Seen Growing By 51% To 313 By 2031, Says Knight Frank Report – Outlook Money
The broader ultra-wealth segment is also expanding rapidly. The number of ultra high-net-worth individuals (UHNWIs) — those with assets exceeding $30 million — is expected to increase from 19,877 at present to 25,217 by 2031.
This rise in wealth is being driven by strong performance in sectors, such as technology, industrials, and capital markets, according to the report. India's growing start-up ecosystem, digital economy, and buoyant equity markets have all played a key role in creating new fortunes and expanding existing ones. The report said that wealth creation in India has been particularly robust over the past five years, with the billionaire population already increasing by around 58 per cent during this period.
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