India’s billionaire population expected to rise 51% by 2031: report
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India is projected to record a 51 per cent increase in its billionaire population between 2026 and 2031, making it one of the fastest-growing wealth hubs globally, according to Knight Frank’s The Wealth Report 2026.
The report estimates that the number of Indian billionaires will rise from 207 in 2026 to 313 by 2031.
Knight Frank said India’s wealth growth reflects the country’s transition into an economy with deeper capital pools, stronger financial markets, and a growing base of globally connected entrepreneurs and investors.
Between 2021 and 2026, India’s population of ultra-high-net-worth individuals, defined as those with assets exceeding $30 million, rose 63 per cent from just over 12,000 to nearly 20,000.
The report forecasts another 27 per cent increase by 2031, taking India’s ultra-wealthy population beyond 25,000.
Knight Frank said the growth is being driven by multiple sectors, including startups, listed equities, private capital, and family-owned businesses.
Despite remaining global leaders in overall wealth creation, neither the United States nor China featured among the top countries for projected billionaire growth rates. Only Saudi Arabia, Poland, Sweden, and Australia ranked ahead of India.
The report also noted strong growth in India’s luxury real estate market. Bengaluru ranked eighth globally in Knight Frank’s Prime International Residential Index after luxury home prices rose 9.4 per cent in 2025. Mumbai ranked tenth with an 8.7 per cent increase.
Knight Frank said Mumbai recorded 56 sales of newly built homes priced above $5 million in 2025, driven by rising domestic wealth and demand for premium properties.
The report added that infrastructure expansion, urbanisation, and growing investor interest are reshaping luxury housing demand in cities including Mumbai, Bengaluru, and parts of the National Capital Region.
Globally, Knight Frank estimated that 162,191 new ultra-high-net-worth individuals were added between 2021 and 2026, averaging nearly 89 new individuals crossing the $30 million wealth mark each day.