Number of wealthy Indians to grow by 71%: Report

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NEW DELHI: The number of wealthy Indians having assets of over $50 million is likely to grow by nearly 71% to 4,980 by 2022 from 2,980 in 2017, according to report by global consultancy firm Knight Frank.
India will be the third largest contributor in Asia with respect to wealthy population after China and Japan, the report said.
The Wealth Report 2018 said, at 54%, India records one of the fastest growth in its super prime population of individuals with a net worth of $50 million between 2012 and 2017.
The report, which tracked the burgeoning super-rich population across 314 cities of 52 countries, revealed that the number of ultra-wealthy people, with $50 million or more in net assets, rose by 11,630 in 2017, taking the global total to 129,730. In terms of wealth alone, where the index measures the number of the ultra-high net worth and high net worth individuals and rate of wealth generation in a city, Mumbai ranks in the top 20 with Delhi at 22nd and Bengaluru at 26th positions, respectively.

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