Over 15% of India’s high-net-worth individuals (HNIs) are under 30, driven by the rise of startup unicorns, IPOs, and tech-driven ventures. A report by Anarock Property Consultants predicts this number will climb to 25% by 2030.
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According to a new analysis by Anarock Property Consultants, more than 15% of India’s high-net-worth people (HNIs) are under 30, indicating a generational change in the country’s wealth accumulation. A dynamic and young class of wealth producers driven by innovation, entrepreneurship, and technology is emerging, as indicated by this trend. By 2030, the percentage is anticipated to increase to 25% as younger business owners continue to rethink conventional methods of accumulating wealth.
Young Millionaires’ Climb
In the past, established industrialists or family-owned enterprises have been the main forces behind wealth accumulation in India. But there has been a significant change in this pattern. Technology-driven businesses, such as startups, fintech, and others, are responsible for about 30% of new HNIs’ wealth. Additionally, the ‘Make-in-India’ campaign has been crucial, accounting for 21% of ultra-high-net-worth individuals’ (UHNIs’) economic output.
“This dynamic mix of young entrepreneurs, tech pioneers, and seasoned industrialists is driving the expansion of India’s affluent population,” said Prashant Thakur, Regional Director and Head of Research at Anarock Property Consultants. Millennials and Gen Z wealth creators are expected to make even bigger contributions over the next ten years.
The investment patterns of India’s HNIs and UHNIs reflect a blend of traditional and modern approaches:
Luxurious Spending and International Goals
The ultra-wealthy in India are also investing heavily in lifestyle. In 2024, over 37% of HNIs bought luxury cars, increasing sales for Lamborghini and Porsche. UHNIs also spend an average of ₹6 crore a year on luxury cruises, customised experiences, and custom vacations, which have grown in popularity.
The leading locations for international real estate investments are Singapore, Dubai, and London. Today, around 14% of UHNIs own real estate overseas, with an average investment of more than ₹12 crore. Additionally, 10% of UHNIs obtained alternate citizenships, preferring countries like Portugal, Malta, and the United Arab Emirates for their tax advantages and worldwide mobility.
The Transformation of Wealth in India
India now ranks third in Asia, behind China and Japan, and is the sixth-largest market for UHNIs worldwide. The UHNI population increased by 6% in 2024, whereas China’s growth was just 2%, highlighting India’s rise to prominence in the world economy. The nation’s wealth landscape is poised for historic growth thanks to a thriving IT sector, a robust entrepreneurial culture, and growing worldwide impact.
In conclusion, the emergence of India’s youthful super-rich is a reflection of the nation’s changing economic objectives as well as personal achievement. This generation is redefining wealth creation by utilising innovation, technology, and worldwide opportunities. Young millionaires will be crucial in determining India’s future as a worldwide leader in wealth and economic development as their numbers continue to rise.
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