Inequity Or Growth? India’s Billionaire And Ultra-Rich Numbers Set For Strong Rise

NEW DELHI -India’s ultra-high-net-worth individual (UHNWI) population has grown sharply in recent years and is projected to rise 27 per cent by 2031, according to a report released on April 23 by property consultancy Knight Frank.

The report said India’s UHNWI population currently stands at 19,877 and is expected to increase to 25,217 by 2031.

India’s billionaire population has also expanded significantly, rising 58 per cent over the past five years to 207 in 2026, making it the third-largest billionaire base globally after the United States and China.

While the money circles say it shows the growth of capital and entrepreneurship, the numbers come as there is more debate in the free countries of the world, including the US, about the influence of this class of people on policy and government, at the expense of the middle class and poor.

In India, as is well known, the Ambani and Adani families have an outsized share of the economy.

The number of billionaires in India is projected to grow by a further 51 per cent to 313 by 2031, increasing the country’s share of the global billionaire population from 6.7 per cent to around 8 per cent.

India accounted for 2.8 per cent of the global UHNWI population in 2026, up from just over 2 per cent five years ago, highlighting the country’s growing role in the global wealth landscape. The country now ranks sixth worldwide in terms of ultra-rich population, the report said.

The study also found that wealth in India is becoming more geographically dispersed, although Mumbai continues to lead with a 35.4 per cent share of the country’s ultra-rich population.

Delhi has increased its share to 22.8 per cent, while Chennai and Hyderabad have also posted notable gains over the past decade. Bengaluru recorded a marginal decline in its share. (IANS)