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Global property consultant Knight Frank unveiled its ‘Wealth Report 2025’ on Wednesday.
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The report showed that India is now home to 191 billionaires, of which 26 joined the ranks just last year.
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The combined wealth of these Indian billionaires is estimated at $950 billion.
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India ranked third globally, behind the USA ($5.7 trillion) and Mainland China ($1.34 trillion).
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It also revealed that millionaires in India have risen by 6% in 2024.
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As per the report, the number of Indian high-net-worth individuals (HNWIs), with assets of more than $10 million, rose to 85,698 in 2024 from 80,686 in 2023.
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This number is expected to rise to 93,753 by 2028.
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According to the NDTV report, the rise in HNIWs shows the country's strong long-term economic growth, increasing investment opportunities, and evolving luxury market.
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