New Delhi, 4 June (IANS). India has registered an increase of 8.8 percent in the wealth of High Net Worth Individual (HNWI) in 2024. Along with this, by the end of last year, 3,78,810 millions recorded assets of $ 1.5 trillion. This information was given in a report on Wednesday.
According to Capgemini Research Institute’s ‘World Wealth Report 2025’, 3,33,340 millions in India stood at $ 628.93 billion by the end of 2024.
In addition, by the end of 2024, there were 4,290 Ultra HNWI in India, with total assets of $ 534.77 billion.
The report said that 85 percent Next Generation HNWI Indians are planning to switch to their parents in the next 1-2 years compared to 81 percent of the surveyed global next generation HNWI.
Capgemini’s report said that about 41 percent of the Indian Next Generation HNWI, who have been surveyed, described the ineffective digital tools as the reason for switching the ineffective digital tools to the wealth management firm.
By 2030, 98 percent of the next generation HNWI in India plans to increase its offshore properties more than 10 percent.
The report showed that the population of Global HNWI increased by 2.6 percent in 2024.
This growth was seen due to an increase in the population of Ultra HNWI, which increased by 6.2 percent, as strong stock markets and artificial intelligence optimism promoted portfolio returns.
The data shows that alternative investment such as private equity and cryptocurrency HNWI holds an established appearance in holdings, which is 15 percent of their portfolio.
Capgemini’s financial services Strategic Business Unit and Group Executive Board Member CEO Karthik Ramakrishnan said, “There will be a decisive moment for the wealth transfer industry at a big level. Despite the increase in global wealth, 81 percent successor, is planning to change the firm within one to two years. The management is going to pose a big risk for the sector. “
Next generation HNWI comes with very different expectations from his parents. This shows the need for immediate change by moving out of traditional strategies to effectively meet the emerging needs of the Next Generation HNWI on this wealth journey.
Ramakrishnan said, “The firms should also be prepared to equip advisors with digital capabilities, which are potentially associated with agentic or generative AI, so that both clients and major employees lose the risk of losing.”
-IANS
SKT/GKT
