The number of ultra-high net worth individuals (UHNWIS) in India is expected to rise 58.4 percent in the next five years from 12,069 in 2022 to 19,119 in 2027, a report by property consultancy Knight Frank said on Wednesday.
In its "The Wealth Report 2023', Knight Frank said that the number of Indian UHNWIS - those with a net worth of $30 million or above- fell 7.5 percent in 2022 due to economic slowdown, rate hikes, appreciation of the US dollar and geopolitical uncertainties. Globally, the number of UHNWIS fell 3.8 percent in 2022 compared to 2021.
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