India will add 63% more millionaires in the next 5 years, possibly clocking the fastest such growth at least in India. This growth is not only expected to sustain but gain further momentum in the post-Covid19 pandemic scenario. India`s ultra-high-net-worth individuals (UHNWI) population, with assets worth over $30 million, is expected to grow 63% over the next five years. At present, India is home to 6,884 UHNWIs and 113 billionaires. The Indian billionaires` club is expected to increase significantly by 43% to 162 by 2025. According to international property consultancy Knight Frank`s global wealth report, the growth will outpace the global average of 24% and Asia average of 38% during the period. An individual requires assets worth $60,000 to join the wealthiest 1% club in India. The wealth growth forecast predicts India`s threshold of the 1% wealthiest club to double in the next five years. With the economic operability reaching high levels of its efficiency post the pandemic, India will make strides to make an entry into the five-trillion-dollar club in the next few years. India is expected to further economically strengthen and gain a formidable position as an Asian superpower paving an ecosystem for the rise of new sunrise sectors. The new economic opportunities will help bring lucrative wealth creation assets which may add new wealthy individuals to the country. Trends show a rise in the number of UHNWIs in India who intend to purchase a new home as one out of five Indian wealthy individuals plan to buy a new home in 2021 as against one out of 10 in 2020. Despite the uncertainty in the global market, ultra-wealthy Indians in 2020 increased their wealth by 59%. In 2021, 91% of Indian UHNWIs expect to see an increase in wealth with the start of a new economic cycle.
India will add 63% more millionaires in the next 5 years, possibly clocking the fastest such growth at least in India. This growth is not only expected to sustain but gain further momentum in the post-Covid19 pandemic scenario. India`s ultra-high-net-worth individuals (UHNWI) population, with assets worth over $30 million, is expected to grow 63% over the next five years. At present, India is home to 6,884 UHNWIs and 113 billionaires. The Indian billionaires` club is expected to increase significantly by 43% to 162 by 2025. According to international property consultancy Knight Frank`s global wealth report, the growth will outpace the global average of 24% and Asia average of 38% during the period. An individual requires assets worth $60,000 to join the wealthiest 1% club in India. The wealth growth forecast predicts India`s threshold of the 1% wealthiest club to double in the next five years. With the economic operability reaching high levels of its efficiency post the pandemic, India will make strides to make an entry into the five-trillion-dollar club in the next few years. India is expected to further economically strengthen and gain a formidable position as an Asian superpower paving an ecosystem for the rise of new sunrise sectors. The new economic opportunities will help bring lucrative wealth creation assets which may add new wealthy individuals to the country. Trends show a rise in the number of UHNWIs in India who intend to purchase a new home as one out of five Indian wealthy individuals plan to buy a new home in 2021 as against one out of 10 in 2020. Despite the uncertainty in the global market, ultra-wealthy Indians in 2020 increased their wealth by 59%. In 2021, 91% of Indian UHNWIs expect to see an increase in wealth with the start of a new economic cycle.
