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Description
India experienced a substantial increase in the wealth of its high-net-worth individuals (HNWIs) in 2024, marking an 8.8% rise compared to the previous year. According to the recently released World Wealth Report 2025 by the Capgemini Research Institute, India is now home to 378,810 millionaires, collectively holding assets worth $1.5 trillion by the end of 2024.
About World Wealth Report 2025
Published annually by Capgemini, the World Wealth Report is a globally recognized benchmark for understanding the wealth landscape. The 2025 edition covers data from 71 countries, representing over 98% of global gross national income and nearly 99% of worldwide stock market capitalization.
Key Highlights Of Report
Global HNWI Growth: The global population of high-net-worth individuals increased by 2.6% in 2024. This growth was largely fueled by a surge in ultra-high-net-worth individuals (UHNWIs), whose numbers rose by 6.2% due to strong equity markets and investor optimism surrounding artificial intelligence.
Definition of HNWIs: HNWIs are defined as individuals possessing investable assets of $1 million or more, excluding their primary residence, luxury items, and consumer goods.
HNWI Classification: Ultra-HNWIs: $30 million and above mid-Tier Millionaires: Between $5 million and $30 million millionaires Next Door: Between $1 million and $5 million
Alternative Investments Rising: Alternative asset classes, including private equity, hedge funds, and cryptocurrencies, have gained prominence among wealthy individuals, now constituting approximately 15% of HNWI portfolios.
India's Wealth Landscape In 2024
India emerged as a standout performer in the Asia-Pacific region, recording:
An 8.8% increase in HNWI wealth
A total of 378,810 millionaires
$1.5 trillion in accumulated wealth by the end of 2024
The data also identifies 333,340 individuals in India as “Millionaires Next Door,” controlling a collective wealth of $628.93 billion. At the top tier, 4,290 individuals in India qualified as Ultra-HNWIs, together holding assets worth $534.77 billion.
Comparative Global Trends
United States: The U.S. continued to dominate the global wealth arena, adding 562,000 new millionaires in 2024 a 7.6% increase, bringing the total to 7.9 million HNWIs. The U.S. is home to 36% of the world's centi-millionaires (with assets over $100 million) and 33% of global billionaires.
Asia-Pacific Region: Alongside India, Japan also registered 6% growth in its HNWI population, adding 210,000 new millionaires. In contrast, China experienced a 1% decline, reflecting broader economic challenges and tightened regulations.
Conclusion
The World Wealth Report 2025 underscores India’s rapid economic ascent and growing influence in the global wealth landscape. The rise in HNWI population and wealth, particularly among the emerging class of “millionaires next door,” reflects a more widespread distribution of wealth and investment maturity. With supportive market trends and policy initiatives, India is poised to continue its upward trajectory in wealth creation.
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