India Ranks 3rd in Global Billionaire Wealth as High-Net-Worth Population Expands: The Wealth Report 2025

India’s high-net-worth individual (HNWI) population has experienced steady growth, reflecting the country’s economic expansion and increasing investment opportunities. According to the latest edition of ‘The Wealth Report 2025’ by global property consultant Knight Frank, India’s HNWI population, defined as individuals with assets exceeding $10 million, increased by 6% in 2024. The number of such individuals reached 85,698 in 2024 and is projected to cross 93,753 by 2028.

Economic Growth and Wealth Expansion

The rising number of wealthy individuals in India is closely linked to economic expansion, emerging industries, and evolving investment trends. India’s GDP growth, driven by domestic consumption, industrial production, and services, has provided a strong foundation for wealth accumulation. The rapid expansion of technology, manufacturing, and financial services sectors has contributed to the growing affluence among investors and business owners.

India’s billionaire population has also seen an increase, with 191 billionaires recorded in 2024, up from 165 in 2023. The addition of 26 new billionaires in a single year is a significant development, highlighting entrepreneurial success and business expansion across various sectors. In comparison, only seven individuals joined the billionaire ranks in 2019.

India’s Position in Global Billionaire Wealth

India now ranks third globally in terms of billionaire wealth. The total wealth of Indian billionaires is estimated at $950 billion, placing the country behind the United States and China. The United States continues to lead with billionaire wealth of $5.7 trillion, followed by China with $1.34 trillion.

Knight Frank’s report attributes this growth to increasing investments in equities, real estate, and alternative assets. Wealthy individuals in India are diversifying their portfolios beyond traditional investments, seeking opportunities in global markets and high-yield financial instruments.

Investment Trends and Future Projections

According to Shishir Baijal, Chairman & Managing Director of Knight Frank India, the wealth surge in India is driven by a combination of entrepreneurial expansion, market integration, and sectoral growth. The increasing participation of Indian businesses in global markets and the rise of digital enterprises have created new avenues for wealth creation.

Investment preferences among high-net-worth individuals are evolving. Many are moving beyond domestic equities and real estate to invest in international financial markets, private equity, and new-age asset classes such as cryptocurrencies and structured investments. Real estate remains a preferred choice, with luxury housing and commercial properties witnessing strong demand.

India’s expanding economy is expected to play a larger role in global wealth distribution over the next decade. The country’s increasing integration into international markets, supported by policy reforms and business-friendly initiatives, is likely to sustain this growth trajectory.

The report suggests that India’s economic influence will continue to strengthen as high-net-worth individuals contribute to business expansion, job creation, and infrastructure development. The government’s focus on digital transformation, manufacturing growth, and financial inclusion will further support wealth generation in the coming years.