India is home to 2.36 lakh high net worth individuals (HNIs) and their population is expected to grow by 135% to reach 5.54 lakh by 2025.
In fact, the total number of HNIs in India has grown by 55% from 1.52 lakh in 2007 to 2.36 lakh in 2015, shows ‘India 2016 Wealth Report’, a report released by The New World Wealth. This is largely due to the strong performance in sectors like construction, financial services, IT, BPO and healthcare sectors.
In terms of wealth, Indian HNIs have a combined wealth of US $1.5 trillion. They hold net assets of US $5.2 trillion. This makes India the 7th richest country in the world in terms of total individual wealth held after USA, China, Japan, Germany, UK, and France.
Interestingly, in India, around US $ 140 billion is tied up in venture capital companies and foundations that are linked to the wealthy.
The report also found that the average Indian individual has net assets of nearly US $ 4,200.
A few months ago, a report called ‘Winds of Change – wealth management reimagined’ jointly released today by Cafemutual - EY also found that India has the world’s fastest growing ultra HNI population. A person with a minimum net worth of Rs. 25 crore is considered to be an ultra HNI.
