India’s ultra-rich are growing the fastest

India is seeing the fastest growth in Ultra High Net-worth Individuals (UHNI) globally. While the US still leads in absolute numbers with over 283,000 UHNIs, India’s wealthy population is expanding at nearly 2x the global pace, signalling a rapid shift in where new wealth is being created.

India’s UHNI count is projected to rise from around 13,000 in 2022 to over 20,000, outpacing peers like China and Japan in growth momentum. 

The takeaway is, even if India isn’t the richest yet, it’s becoming one of the fastest engines of new wealth, driven by entrepreneurship, capital markets, and rising asset values.