India ranks 3rd in billionaire population globally, Mumbai houses most of country's super wealthy
- IBEF
- March 3, 2022
According to Knight Frank's latest edition of the Wealth Report 2022, India has the third-highest billionaire population in the world, after the United States and China, with 145 billionaires, the number of ultra-high net worth individuals with net assets of US$ 30 million (Rs 226 crore) or more increased 11% in 2021. In the Asia Pacific, this is the biggest percentage rise.
With 1,596 UHNWIs, Mumbai is the city with the most, followed by Hyderabad with 467, Pune with 360, Bengaluru with 352, Kolkata with 257, Delhi with 210, Chennai with 160, and Ahmedabad with 121. Delhi, which grew by 12.4% to 210, and Mumbai, which grew by 9% to 1596, followed Bengaluru, which grew by 17.1% to 352 UHNWIs in 2021.
“Equity markets and digital adoption have been the key factors driving the growth of UHNWIs in India. The growth in younger, self- made UHNWIs has been incredible in India and we foresee them to drive new investment themes and innovation. With a healthy growth in the UHNWI and Billionaire population, India is expected to be one of the fastest growing countries amongst its global peers, further strengthening itself economically and emerging as a superpower in different sectors," said Mr. Shishir Baijal, Chairman and Managing Director, Knight Frank India.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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