India's expected to see an 85% increase in millionaires by 2034, report says.

India is positioned as a key player in the upcoming surge of wealth creation in the East, with BRICS nations anticipating an 85% increase in millionaires by 2034, according to a BNN report. This projection translates to a potential US$ 271.1 billion (Rs. 22.5 trillion) surge in India's investable wealth, fueled by a dynamic entrepreneurial landscape, technological advancements, and economic strength. The BRICS bloc, undergoing a significant transformation with the inclusion of five new members, signals a growing influence of Middle Eastern and African nations in shaping the global economic landscape.

In a recent meeting in Tehran, Iranian Foreign Minister, Mr. Hossein Amir-Abdollahian and Union External Affairs Minister, Dr. S. Jaishankar discussed expanding bilateral and multilateral ties within the Shanghai Cooperation Organisation (SCO) and BRICS, underlining the evolving importance of these alliances in shaping international economic dynamics.

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