India will have more number of middle class becoming HNIs.
A recent report published by Waterfield Advisors on India PE/VC Funds shows that investment in AIF space is set to grow over next decade as the income of most people in the middle-income group would rise.
The report estimates that the share of middleclass in India is likely to rise from 50% today to 80% by 2030. In fact, the report says that by 2030, there would be 20 million new HNIs.
As a result, almost all the goods and services in the country are set to see an uptick, including consumer goods, recreational services, and everything from consumer technology to financial services, said the report. “Given the data, the forecasts, and the general wave of global optimism around the India growth story, the general confidence about investments in India seems justified,” the report said.
This will also provide ample opportunities for PE and VC funds to invest in a market like India, which is on after US and China is the third largest in deals inspite of being a late entrant.