India’s wealth panorama is evolving at breakneck velocity, with billionaires rising sooner than millionaires and the nation’s youth reshaping how wealth is managed, moved, and multiplied. On the heart of this shift is a daring declare: India is not only a nation of rising fortunes — it’s a breeding floor for billionaires, not staff.
Akshat Shrivastava, monetary skilled and founding father of Knowledge Hatch, believes India’s true wealth story lies in its entrepreneurial firepower. “India has roughly 250 billionaires, simply half that of China (which has roughly 520 billionaires),” Shrivastava wrote on X (previously Twitter). “However, the info may be very attention-grabbing for millionaires (in USD): The US has 22 million millionaires (25X that of India), China has 6 million millionaires (7X that of India), India has 850K millionaires.”
He emphasised the tempo of billionaire creation outstrips that of millionaires: “One might change into a millionaire from a job. However, it’s unlikely that one would change into a billionaire from a job. India is a land of enterprise alternatives, not essentially job alternatives.”
Backing that sentiment, the World Wealth Report 2025 from Capgemini Analysis Institute revealed that India’s high-net-worth particular person (HNWI) inhabitants grew 5.6% in 2024, with their collective wealth rising 8.8% — outpacing each China and international friends.
India ended 2024 with 378,810 millionaires holding $1.5 trillion in investable belongings. Although far behind Japan’s 3.99 million millionaires ($9.9 trillion) and China’s 1.5 million ($7.9 trillion), India posted one of many highest regional development charges in wealth and HNWI inhabitants.
A generational shift is underway. Fifty % of Indian HNWIs are anticipated to inherit wealth by 2030, climbing to 93 % by 2040. This transition is altering wealth administration preferences. The “millionaire subsequent door” class — these with $1 million to $5 million — now consists of 333,340 Indians, holding a mixed $628.93 billion.
In the meantime, India had 4,290 ultra-HNWIs (over $30 million in belongings), in comparison with 22,780 in China and 13,620 in Japan.
Digital transformation is a prime precedence. Amongst India’s next-gen HNWIs, 85 % plan to vary their wealth administration suppliers inside one to 2 years — above the worldwide common of 81 %. The important thing causes: lack of digital service channels (51 %) and poor digital transaction instruments (41 %). But, relationship managers (RMs) stay vital: 67 % of younger Indian HNWIs would observe their RM to a brand new agency.
Digital calls for range by age. Seventy-six % of Indian millennial HNWIs and 52 % of Gen Z anticipate top-tier digital capabilities. Tailor-made companies are additionally key — 70 % of millennials search personalised choices, adopted by Gen Z (60 %) and Gen X (49 %).
Offshore investments are surging. By 2030, 98 % of India’s next-gen HNWIs plan to develop offshore belongings by over 10 %, pushed by higher funding choices (55 %), superior companies (65 %), stronger market entry (54 %), and favorable tax or political environments (49 %).
Tax planning can be prompting relocation. Fifty-nine % of Gen Z Indian HNWIs have modified their tax residency for inheritance planning — effectively above the worldwide common of 39 %.
As of January 2025, international HNWI portfolios held 25-28 % in money, 19 % in mounted revenue, 16-19 % in actual property, and 20-25 % in equities. Different investments accounted for 14-17 %, with millennials exhibiting the strongest urge for food.
