20% of India's super-rich are under 40, fuelled by start-ups, fintech, IPOs

India's high-net-worth individual (HNIs) population is expected to double to 1.65 million by 2027 from the current 850,000, according to a report by real estate consultancy Anarock. The growth in HNIs and ultra-high-net-worth individuals (UHNIs) indicates a transformative era of wealth creation in the country. In 2024, over 15% of HNIs are under 30, driven by tech start-ups and IPOs, and 20% are under 40. This trend is set to rise, with 25% of HNIs expected to be under 40 by 2030. The country ranks sixth globally in UHNI population and third in Asia, with a 6% annual growth rate in UHNIs. The UHNI population is projected to grow by 50% by 2028, outpacing the global growth average of 30%. 

The rise in wealth is also reflected in the luxury real estate market, with luxury homes accounting for 28% of total sales in 2024, up from 16% pre-pandemic. Mumbai, Delhi, and Bengaluru remain prime locations, while Goa, Alibaug, and Jaipur are gaining popularity for second homes. Approximately 14% of UHNIs own properties abroad, with Dubai, London, and Singapore as key hotspots. Nearly 30% of new HNIs owe their wealth to the tech and start-up sectors, while manufacturing and real estate contribute 21% and 15%, respectively. India's affluent population increasingly diversifies its investments, with 32% allocated to real estate and 20% to private equity and start-ups, focusing on AI, blockchain, and cleantech. Additionally, 25% of UHNIs invest abroad, prioritising North America and Europe. In comparison, 40% have established family offices for wealth management and philanthropy. 

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.