GUWAHATI: India’s billionaire population surged to 191 in 2024, adding 26 new billionaires in a single year.
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According to Knight Frank’s ‘The Wealth Report 2025’ released on Wednesday, March 5, this marks a jump from just seven new billionaires in 2019.
The combined wealth of Indian billionaires is now estimated at $950 billion, ranking third globally after the United States ($5.7 trillion) and Mainland China ($1.34 trillion).
This surge in billionaires is part of a broader expansion in India’s high-net-worth individual (HNWI) population, which includes individuals with assets over $10 million. The category saw a 6% increase in 2024, reaching 85,698, up from 80,686 in 2023.
The report also estimated that this figure will rise to 93,753 by 2028, driven by economic expansion, investment diversification, and a booming luxury market.