The Indian high-net-worth individual (HNI) population, with asset value of USD 1 million and more, increased to 7,97,714 last year from 7,63,674 in 2021. The number of HNIs will rise to 16,57,272 by 2027. In 2022, the global population of UHNWIs declined by 3.8 per cent, after a record climb of 9.3 per cent in 2021, as the wealth and the investment portfolio of the ultra-wealthy were impacted by economic slowdowns, frequent rate hikes and rising geopolitical uncertainties.
