India has emerged as the country with the fourth-largest population of High Net Worth Individuals (HNWIs) globally, according to Knight Frank's Wealth Report 2025. With 85,698 individuals worth over $10 million, India surpasses nations like the UK and Germany, driven by a surge in entrepreneurship and growing interest in risk assets like equity.
According to the Wealth Report 2025 by Knight Frank, India is now home to 85,698 High Net Worth Individuals (HNWIs), defined as those with a net worth above $10 million. This places India as the country with the 4th-largest HNWI population globally, ahead of developed economies like the UK, France, Canada, and Germany.
India contributes 3.7% of the total HNWI count worldwide. This significant presence reflects the country's economic expansion and increased global participation. The report attributes a large part of this growth to the rise in India’s entrepreneurial ecosystem, which is enabling the accumulation of wealth across various sectors.
India’s HNWI population is now only surpassed by the United States, the Chinese mainland, and Japan. While it has surpassed traditionally advanced economies such as the UK, Germany and France, the shift highlights India's growing economic influence and wealth creation pace.
Knight Frank’s findings also show that India had 196 billionaires by December 2024. Out of these, 26 individuals achieved billionaire status during the year 2024 alone. The cumulative wealth of Indian billionaires is estimated at $0.95 trillion, indicating strong financial consolidation among the country’s ultra-wealthy.
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The report also noted a marked increase in India’s investment appetite, especially towards risk assets such as equity. The inclination towards capital market instruments shows a shift in wealth management strategies among affluent individuals in India, focusing more on returns and growth over time.
India has emerged as a significant hub for wealth generation, with a growing number of HNWIs and billionaires. Surpassing developed nations in HNWI population reflects not just economic growth but also increased investor confidence and entrepreneurial success. This trend positions India prominently on the global wealth map.
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Published on: Jun 9, 2025, 2:05 PM IST
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