India’s HNWI inhabitants to rise to 93,753 by 2028, from 85,698 in 2024: Knight Frank

India’s high-net-worth people inhabitants (HNWI) estimated at 85,698 in 2024 is anticipated to rise to 93,753 by 2028, reflecting the nation’s increasing wealth panorama, predicts Knight Frank.

Knight Frank’s Wealth Report 2025 forecasts a rise of 9.4% in India’s HNWIs — these with property exceeding $ 10 million.

In keeping with the report, this rise highlights the nation’s robust long-term financial progress, rising funding alternatives, and evolving luxurious market, positioning India as a key participant in international wealth creation.

In 2024, the variety of Indian HNWIs elevated by 6% year-on-year (YoY) to 85,698 from 80,686 in 2023. India is dwelling to three.7% of the rich people globally and at the moment stands at 4th place after the US (905,413 HNWIs), China (471,634 HNWIs) and Japan (122,119 HNWIs).

Globally, the variety of HNWIs rose by 4.4% YoY in 2024 to 2,341,378 from 2,243,300 a 12 months earlier. Whereas North America led in HNWI numbers this 12 months, Asia noticed the second highest improve at 5%, adopted by Africa at 4.7%. Australasia at 3.9%, the Center East at 2.7%, Latin America at 1.5% and Europe at 1.4% YoY progress.

Knight Frank additionally discovered that the nation’s billionaire inhabitants has seen a YoY progress of 12% in 2024 over the earlier 12 months. The nation now has 191 billionaires of which 26 joined the ranks in simply the final 12 months. The mixed wealth of Indian billionaires is estimated at $950 billion, rating the nation third globally, behind the U.S. ($5.7 trillion) and Mainland China ($1.34 trillion).

Shishir Baijal, Chairman & Managing Director, Knight Frank India, mentioned: “India’s rising wealth underscores its financial resilience and long-term progress potential. The nation is witnessing an unprecedented rise in high-net-worth people, pushed by entrepreneurial dynamism, international integration, and rising industries.’‘