India's millionaire population rise 6% in 2024.

Tags: Reports

Why in the news?

• Global property consultant Knight Frank released its 'The Wealth Report 2025', which estimated the HNWI population in India at 85,698 in 2024, as against 80,686 in the preceding year.

Important points:

• Number of Indian high-net-worth individuals (HNWIs), those having assets more than $10 million, rose 6% last year to 85,698, according to Knight Frank.
•  India is now home to 191 billionaires of which 26 joined the ranks in just the last year which was pegged at just 7 in 2019. 
• The combined wealth of Indian billionaires is estimated at US$ 950 billion, ranking the country third globally, behind the U.S. (US$ 5.7 trn) and Mainland China (US$ 1.34 trn).