India’s ultra-high-net-worth individual (UHNWI) population, defined as individuals with a net worth of US$30 million or more, is projected to rise to 25,217 by 2031. India ranked sixth globally with 19,877 UHNWIs as of 23 April 2026, and its billionaire count stood at 207 in 2026.
UHNWI and Billionaire Counts
India’s UHNWI population grew by 63% between 2021 and 2026. The billionaire population increased by 58% over the past five years and is projected to reach 313 by 2031, which would be a 51% rise from the 2026 level.
Global Position
India was the third-largest billionaire market in 2026 after the United States and China. The UHNWI category is used in wealth studies to classify individuals with assets above US$30 million, excluding liabilities in many private wealth surveys.
Drivers of Wealth Expansion
India’s wealth growth has been linked to technology, capital markets, entrepreneurship, digitalisation, listed equities, and private capital. These factors are commonly used in financial studies to measure the expansion of investable wealth and asset ownership.
Major Wealth Centres
Mumbai held a 35.4% share of India’s ultra-rich population in 2026. Delhi held a 22.8% share, while Chennai and Hyderabad also recorded growth in ultra-rich residents.
Related Wealth Projections
A separate projection by McKinsey & Company and The Business of Fashion in 2025 estimated a 50% rise in India’s UHNWI population between 2023 and 2028. That projection was linked to expansion in the luxury market, which includes premium goods, high-end services, and branded consumption.
Last Modified: April 23, 2026