Ultra-rich people fall in India in 2022
Knight Frank predicts UHNWIs number will rise to 19,119 in next 5 yrs
Promising Future
-Number of HNIs will rise to 16,57,272 by 2027
- Billionaire population rose to 161 in 2022 from 145 in 2021
New Delhi: Number of ultra-high-net-worth individuals (UHNWI) in India, having net worth of over $30 million, fell 7.5 per cent last year to 12,069 but will rise to 19,119 in the next five years, according to Knight Frank.
India’s billionaire population rose to 161 in 2022 from 145 in the previous year and is estimated to rise to 195 individuals by 2027. Real estate consultant Knight Frank’s on Wednesday released ‘The Wealth Report 2023’.
“India's ultra-high-net-worth individuals with net worth over $30 million is estimated to rise by 58.4 per cent in the next five years from 12,069 in 2022 to 19,119 individuals in 2027,” the consultant said. “India’s hectic development activities in core and non-core sectors have helped accelerate economic growth in the recent times. Aligned to that is India’s significant position as a global startup hub creating new wealth,” said Shishir Baijal, CMD of Knight Frank India.
