India, March 5 -- A new report by global consultancy firm Knight Frank has revealed that the number of Indians who fall in the high-net-worth category are projected to increase by 9.4% by 2028.

The report, Wealth Report 2025, forecasts ultra-rich Indians at 85,698 in 2024, which is projected to rise to 93,753 by 2028.

This growth indicates India's strong long-term economic growth, increasing investment opportunities and evolving luxury market. It also positions India as a key player in global wealth creation.

High-net-worth individuals (HNWIs) are those with assets exceeding $10 million.

The report claims that India recorded a 6% rise in the number of HNWIs from 80,686 in 2023 to 85,698 in 2024. It adds that India is home to 3.7% of t...