India is becoming a new home to billionaires. According to the real estate consultant Knight Frank report, India will have more than 300 billionaires and 25,000 ultra HNIs in the next five years.
At present, there are 19,877 UHNWIs and 207 billionaires in India. Ultra-high Net Worth Individuals (UHNWIs) are defined as those having a net worth of USD 30 million and above.
According to Knight Frank's 20th edition of The Wealth Report 2026, India will have 25,217 ultra-high net worth individuals and 313 billionaires by 2031.
The report said that there has been "dramatic acceleration" in global wealth creation despite substantial geopolitical uncertainty, concerns over rising interest rates and uneven economic performance.
"India's UHNWI population is forecast to rise from 19,877 today to 25,217 by 2031, underscoring its growing role in the global wealth landscape. This reflects extraordinary wealth creation across technology, industrials and capital markets," The Wealth Report 2026 said.
Mumbai accounts for 35.4 per cent of the UHNWI population in India.
India now has the sixth-largest UHNWI population in the world.
Globally, the UHNWI population has increased to 713,626 from 551,435 in 2021.
Knight Frank said that India's billionaire count rose 58 per cent over the past five years to 207 in 2026, placing the country 3rd globally after the United States (914) and China (485).
The country's billionaire population is forecast to rise by 51 per cent from 207 in early 2026 to 313 by 2031.
