The number of billionaires in India is continuously increasing. A survey says that the number of billionaires in India will increase to 334 this year i.e. in 2024. The survey report also revealed that Mumbai has strengthened its position as Asia’s billionaire capital. Mumbai has overtaken the United States and China and moved to third place in the world. 360 One Wealth and CRISIL have released the latest edition of The Wealth Index report, which includes trends based on a comprehensive survey.
India is rapidly emerging as a global wealth hub
According to the news, The Wealth Index is a detailed research and analysis on the investment behavior, preferences and wealth management trends of India’s ultra-high net worth individuals and high net worth individuals. The report states that India is rapidly emerging as a global wealth hub. The report says wealth creation in the fintech, e-commerce, space and defense sectors is expected to receive a strong boost.
Growing entry of women into the rich category
The Wealth Index report by 360 One Wealth and CRISIL states that the number of women entering the wealthy elite is increasing. More than 40 percent of wealthy women are between 51 and 60 years old. Many of whom embrace stable, low-risk investments. This demographic shift is bringing new approaches to money management. Survey reports say the wealthy are moving beyond traditional assets. Options such as portfolio management services, alternative investment funds and real estate investment trusts are becoming popular.
Collective wealth of India’s billionaires
Forbes’ list of India’s 100 richest in 2024 shows that the collective wealth of India’s billionaires has crossed $1 trillion and reached $1.1 trillion. Mukesh Ambani leads with $119.5 billion, followed by Gautam Adani with $116 billion and then Savitri Jindal, whose wealth is $43.7 billion.
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