India Beats China In Ultra HNIs’ Growth

New Delhi: The country’s ultra-high net worth individual (UHNI) count reached 13,600 in 2024, marking a 6 per cent annual growth, and is projected to soar by 50 per cent by 2028, far outpacing the global growth average of 30 per cent, a report showed on Thursday.

While India’s UHNI population grew by six per cent in 2024, China’s grew by just two per cent, signalling India’s rising economic prominence, according to the report by Anarock Group.

India ranks sixth globally in UHNI population and third in Asia, trailing only China and Japan.

About 10 per cent of UHNIs secured alternate citizenships in 2024, favouring Portugal, Malta and the UAE for their global mobility and tax benefits.

“Approximately 14 per cent of UHNIs own properties abroad, with Dubai, London and Singapore as the primary hotspots.