India’s Ultra-Rich Population Could Exceed 25,000 by 2031

India has more than 19,000 people who each own over $30 million in assets.

A report says this number could rise above 25,000 by 2031.

Many became wealthier after companies launched IPOs, sold stakes or completed private equity deals.

As wealth grows, more families are creating special offices to manage their money.

The number of these family offices rose from about 45 in 2018 to nearly 300 by 2024-25.

These offices do more than protect money because they also invest in businesses and new projects.

They are putting money into areas such as technology, renewable energy and private companies.

Wealth is also spreading from major cities to smaller Indian cities.

Younger family members are helping shape longer-term investment decisions.