The number of high net worth individuals in India is continuously increasing. A study by real estate consultancy firm Anarock has revealed that the number of high net worth individuals in the country is currently 850,000. Their number is likely to double to 1.65 million by the year 2027. A person with high net worth is someone who has a large amount of financial assets or property.
This is a source of earning
The increase in the number of high net worth individuals or individuals with investable assets of at least $1 million and ultra-high-net-worth individuals with assets of more than $30 million by 2024 shows that India is a leader in wealth creation. Is going through a changing phase.
The surprising thing is that more than 15 percent of the high net worth individuals in the country are below 30 years of age and their main source of income is usually investment in IPO, startup unicorn company or technology based startup. The government’s ‘Make-in-India’ campaign also contributes 21 percent to this. Real estate contributes 15 percent. Apart from this, Indian investors are also making money from equity in the stock market.
India is giving competition to China and Japan
Whereas 20 percent of these millionaires are below 40 years of age. Anarock said that this number is expected to increase to 25 percent by 2030 because today’s youth are increasing their source of income by investing in different types of startups.
India ranks sixth in the world and third in Asia in terms of the number of ultra high net worth individuals. China and Japan are ahead of India in this list. The number of ultra high net worth individuals in the country to reach 13,600 in 2024.
It is estimated that it is expected to increase by 50 percent by 2028, which represents more than 30 percent annual growth. There are more than 850,000 high net worth individuals in India.
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