New Delhi: With a total of 308 people now classified as ultra-rich, the number of high-net-worth individuals (HNIs) in India increased by 10.5 percent. According to a “World Wealth Report” by Capgemini, despite the epidemic, this increased globally by 7.8 percent to 22.5 million people, and their combined worth increased by 8 percent to $86 trillion.
The population of HNIs has been changing, and more women, LGBTQ+ people, millennials, and Gen Zers are now requesting wealth management services. According to the survey, each of these new customer segments has unique beliefs, interests, and needs, and many wealth management companies are now ill-prepared to meet them.
Although India has a fairly small proportion of HNIs compared to other nations, the Asia-Pacific region as a whole had a total HNI wealth of $25.3 trillion in 2021, which increased by 5.4 percent.
India had 261 HNIs in 2020; by 2021, that number had risen to 308. These Indians’ total HNI wealth increased by 11.6 percent as a group. Additionally, it should be remembered that the Sensex returned 22 percent and the Nifty 50 delivered a return of 24 percent in 2021, respectively.
The investigation also revealed a fascinating fact about ultra-HNIs. They are the people whose wealth exceeds $30 million. About 220,221 people in the world have a wealth of at least $30 million. India and Taiwan were acknowledged to be the leading contributors in the ultra-HNI category for the entire Asia-Pacific region.
The survey stated that although the global ultra-HNI population stayed stable at 9.6 percent, their total wealth dropped by 1 percent.
Source: Bureau
