Summary of this article
India’s billionaire population is rise by 51 per cent over the next five years
India ranks third globally in terms of billionaire count
India’s billionaire population is set to witness sharp growth over the next five years, reflecting accelerated wealth creation across key sectors, according to a recent report by Knight Frank.
The number of billionaires in India is projected to rise by 51 per cent to 313 by 2031, up from 207 in early 2026. This growth rate is expected to outpace major economies, such as China and the US, underscoring India’s increasing prominence in the global wealth landscape.
India already ranks among the top countries globally in terms of billionaire count, currently holding the third position after the US and China. The anticipated surge will also raise India’s share of global billionaires from about 6.70 per cent to nearly 8 per cent by 2031.
The broader ultra-wealth segment is also expanding rapidly. The number of ultra high-net-worth individuals (UHNWIs)—those with assets exceeding $30 million—is expected to increase from 19,877 at present to 25,217 by 2031.
This rise in wealth is being driven by strong performance in sectors, such as technology, industrials, and capital markets, according to the report. India’s growing start-up ecosystem, digital economy, and buoyant equity markets have all played a key role in creating new fortunes and expanding existing ones. The report said that wealth creation in India has been particularly robust over the past five years, with the billionaire population already increasing by around 58 per cent during this period.
“Urban centres continue to dominate wealth concentration, with cities like Mumbai, Delhi, and Hyderabad emerging as major hubs for the ultra-rich. This concentration reflects the clustering of financial services, corporate headquarters, and entrepreneurial activity in these regions,” the report said.
“Over the last 10 years, especially with the real estate investment trusts (REITs) coming in, family offices and UHNWIs started allocating funds to commercial real estate. The way commercial real estate is booming today, this year is going to report an absorption of close to 100 million square feet. Commercial real estate is a clear favourite for many to invest in, and that will continue for some time,” said Shishir Baijal, international partner, chairman and managing director, Knight Frank India.
