India’s billionaire count to rise three times by 2027

According to a report, India’s billionaire count will rise by three times by 2027. India has the third largest number of billionaires in the world currently and in the next decade about 238 additional individuals will join the elite club.

India has 119 billionaires currently and the number is expected to reach 357 by 2027. There are 2,252 billionaires globally and the same is expected to reach 3,444 by 2027.

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Over the next decade, India is expected to create 238 additional billionaires and its neighbour China is expected to add 448 such individuals. The United States is likely to have the maximum number of billionaires at 884, followed by China at 697 and India at 357. Billionaires are those individuals whose net assets are more than USD 1 billion. Other countries which are expected to create billionaires over the next decade include United Kingdom, Russian Federation, Hong Kong and Germany.

India is the sixth wealthiest country in the world with a total wealth of USD 8,230 billion. Currently, United States is the wealthiest country in the world and has a total wealth of USD 62,584 billion followed by China which has USD 24,803 billion and Japan which has USD 19,522 billion. An increasing number of entrepreneurs, robust outlook for IT, strong educational system, healthcare and media and business process outsourcing are some factors that help in wealth creation. These factors will help in a 200 percent rise in 10-year wealth growth forecast.

The global wealth is also expected to rise by 50 percent over the next decade and will reach USD 321 trillion by 2027. India, Sri Lanka, China, Vietnam and Mauritius are the fastest growing wealth markets.