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MUMBAI: India has 5,986 ultra-high net worth people (UHNWI), each with over US$ 30 million (around Rs 215 crore), and it is globally ranked 12 th on the list of nations with the majority of such people.
The US dominates the ranking with over 2.4 lakh UHNWIs, followed by China with 61,587 and Germany 23,078, according to the Knight Frank Wealth Report 2020 released on Thursday. Worldwide, over 31,000 additional UHNWIs were produced in 2019, bringing the total to more than 513,200
” The number of UHNWIs in India is anticipated to grow by a massive 73%in the next five years, practically doubling the count to 10,354 from 5,986 in 2019,” said the report. By 2024, Asia will be the world’s second largest wealth center surpassing Europe, with a five-year development forecas