India’s Billionaire Population May Rise 51 percent to 313 by 2031, Says Report

According to Knight Frank, wealth creation in the technology, industrial and capital market sectors will drive India to have 25,217 ultra-high net worth people and 313 billionaires by 2031. A net worth of USD 30 million or more is considered to be ultra-high net worth individuals (UHNWIs).

India currently has 207 billionaires and 19,877 extremely high net worth individuals, as reported by the PTI. The number of ultra-high net worth individuals (UHNWI) in the world rose by 162,191 from 2021 to 713,626 in 2026. In 2026, India made up 2.8% of the world’s UHNWIs, a rise from slightly over 2% five years prior. At the moment, the nation has the sixth highest number of UHNWI in the world.

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According to predictions, India’s ultra-high net worth individual (UHNWI) population will also increase from its present level of 19,877 to 25,217 by 2031, as stated above. People who have a net worth of 30 million USD or more are considered UHNWIs.

In contrast, in Mumbai, 1 million USD might buy 96 square meters of high-end residential property in 2025, which would be a 3% decrease from the 99 square meters that were available in 2024, according to the reports.