Knight Frank Report 2025: India’s Wealthy Class Expands, Billionaire Growth Outpaces Previous Years
India’s Millionaire Population Grows by 6% in 2024, Billionaire Count Reaches 191: Knight Frank Report
New Delhi, March 5: India’s high-net-worth individual (HNWI) population—comprising those with assets exceeding USD 10 million—witnessed a 6% rise in 2024, reaching 85,698 from 80,686 in the previous year, according to global real estate consultancy Knight Frank. The figures were revealed in its latest edition of ‘The Wealth Report 2025’, which underscores India’s rapid wealth creation and economic momentum.
The report further projects that India’s HNWI population will continue its upward trajectory, expected to reach 93,753 by 2028. This growth trend highlights India’s robust long-term economic expansion, increasing investment opportunities, and a flourishing luxury market, positioning the country as a key global wealth hub.
India’s billionaire club has also witnessed significant year-on-year growth, with the country now home to 191 billionaires—an increase of 26 new entrants in just the past year. This rise is substantial compared to the seven new billionaires recorded in 2019, reflecting the country’s accelerating pace of wealth accumulation.
The combined net worth of Indian billionaires now stands at approximately USD 950 billion, placing India as the third-largest wealth hub globally, behind the United States (USD 5.7 trillion) and Mainland China (USD 1.34 trillion).
Commenting on the findings, Shishir Baijal, Chairman & Managing Director of Knight Frank India, emphasized India’s economic resilience and long-term wealth creation potential.
“India’s growing wealth is a testament to its entrepreneurial dynamism, increasing global integration, and the rise of emerging industries. The country is not only witnessing a surge in ultra-rich individuals but also a shift in their investment patterns, with a greater focus on diversifying assets across real estate, global equities, and alternative investments,” Baijal stated.
With India’s wealth landscape evolving rapidly, experts predict that the country’s influence in global wealth creation will continue to strengthen in the coming decade, further solidifying its position as a major player in the world economy.
