India Sees 8.8% Rise In HNWI Wealth In 2024, Has 378,810 Millionaires Worth $1.5 Trillion

New Delhi: India noticed an 8.8 in step with cent upward push in high-net-worth particular person (HNWI) wealth in 2024, witnessing 378,810 millionaires with a complete wealth of $1.5 trillion by means of the top of ultimate 12 months, in keeping with a record launched on Wednesday. 

India additionally had 333,340 millionaires ‘subsequent door’ on the finish of 2024, with a wealth of $628.93 billion, in keeping with the Capgemini Research Institute’s ‘World Wealth Report 2025’.

Moreover, India had 4,290 extremely HNWIs on the finish of 2024, with a blended wealth of $534.77 billion.

While 85 in step with cent of the Indian next-gen HNWIs plan to change from oldsters’ WM (Wealth Management) company inside of 1-2 years, as in comparison to 81 in step with cent of the surveyed world next-gen HNWIs, 51 in step with cent of them cite services and products unavailable on their most well-liked channels as a reason why to change WM corporations.

About 41 in step with cent of the surveyed Indian next-gen HNWIs cite useless virtual gear to habits transactions as a reason why to change WM corporations, mentioned the Capgemini record.

By 2030, 98 in step with cent of next-gen HNWIs in India are making plans to extend their offshore belongings by means of greater than 10 in step with cent. This higher focal point on offshore investments comes from higher funding choices (55 in step with cent), higher wealth control services and products (65 in step with cent), higher marketplace connectivity (54 in step with cent), higher tax rules and financial and political balance (49 in step with cent).

The record published that the worldwide high-net-worth folks (HNWIs) inhabitants rose by means of 2.6 in step with cent in 2024.

This build up was once pushed by means of the expansion within the inhabitants of ultra-high-net-worth folks (UHNWIs), which grew by means of 6.2 in step with cent, as robust inventory markets and AI optimism boosted portfolio returns.

The knowledge signifies that selection investments, equivalent to personal fairness and cryptocurrencies, at the moment are a longtime presence in HNWI holdings, representing 15 in step with cent in their portfolios.

“The great wealth transfer will be a defining moment for the industry. Despite global wealth on the rise, 81 per cent of inheritors plan to switch firms within one to two years of inheritance. Potentially losing these unsatisfied clients is going to create significant risk for the global wealth management sector,” mentioned Kartik Ramakrishnan, CEO of Capgemini’s Financial Services Strategic Business Unit and Group Executive Board Member.

The subsequent era of high-net-worth folks arrives with hugely other expectancies from their oldsters. This necessitates an pressing shift clear of conventional methods to successfully cater to their evolving wishes in this wealth adventure.

“Firms must also prepare to equip advisors with the digital capabilities, potentially augmented with agentic or generative AI, to mitigate the risk of losing both clients and key employees,” Ramakrishnan added.