Billionaires increased by 11% in India, which is now ranked third

The number of wealthy people in India is steadily increasing. According to a report, the number of people in the country with ultra HNIs (assets worth more than $30 million, or approximately Rs 226 crore), will increase by 11% in 2021. With this increase, India has surpassed other countries in terms of the global number of billionaires. According to the property advisory firm Knight Frank, India will rank third in the world in terms of billionaires in 2021. According to the report's figures, America ranks first, with 748 billionaires. It is followed by China, with 554 billionaires. At the same time, India has now occupied the third position with 145 billionaires, after America and China, taking a long leap in this matter.

Billionaires increased by 11% in India, which is now ranked third

According to the Wealth Report 2022, the global number of UltraHNIs increased by 9.3 percent in 2021 to 6,10,569, up from 5,58,828 in the same period the previous year.According to Knight Frank, the number of billionaires in India is increasing all the time. According to the report, their number in India will increase to 13,637 in 2021, up from 12,287 in 2020. The highest number of cities with a wealth above Rs 226 crore was followed by Bengaluru with 17.1%, Delhi with 12.4%, and Mumbai with 9%. According to Knight Frank, the number of such wealthy people will rise by 39% to 19,006 by 2026. In 2016, there were 7,401 of them. Shishir Baijal, Chairman and Managing Director, Knight Frank India, said equity markets and the promotion of digitization have been key factors in the growth of UHNWIs in India.