India’s high-net-worth individual (HNWI) population grew 3% year-on-year in 2025 to nearly 390,000 individuals, while their combined financial wealth rose 4.6% to around $1.64 trillion, according to the latest World Wealth Report 2026 released by Capgemini.
The report revealed India’s wealth creation despite market volatility and global economic uncertainty, supported by strong economic growth and expanding manufacturing and services sectors. In 2025, India’s GDP grew 7.6%, making it one of the fastest-growing major economies globally, the report noted.
The findings come as global wealth creation accelerated sharply in 2025, driven largely by equity market rallies, easing inflation and rising technology-sector valuations.
Global millionaire population hits record high
According to the report, global HNWI wealth increased 8.7% in 2025 to a record $98.3 trillion, the strongest annual rise since 2018. The global millionaire population also expanded by nearly two million individuals, reaching 25.3 million worldwide.
Ultra-high-net-worth individuals (UHNWIs), defined as individuals with the largest investable wealth pools, witnessed the fastest growth for the second consecutive year.
Globally, the UHNWI population rose 9.4% to nearly 250,000 individuals, while their wealth increased 9.7%, outperforming the broader HNWI segment.
The report also talked about increasing wealth concentration, with the top 1% of HNWIs controlling nearly 34.8% of total HNWI wealth worldwide.
Asia-Pacific emerges as fastest-growing region
The Asia-Pacific region recorded the strongest growth globally, with HNWI wealth rising 10.5% and the millionaire population increasing 9.4%.
Strong semiconductor demand and technology-led equity rallies boosted stock markets across Asia, particularly in Japan and China. Japan added nearly 436,000 new millionaires during the year, while China added around 154,000.
India and Australia also witnessed strong expansion, with India adding nearly 11,300 new HNWIs in 2025.
AI and equities drive investor portfolios
The report said global equity markets, particularly AI-linked technology stocks, became the biggest driver of wealth creation in 2025. As a result, equity allocations in HNWI portfolios rose to 25%, up three percentage points from the previous year.
Fixed-income investments also increased to 20% of portfolios as global bond markets posted their strongest returns since 2020.
Meanwhile, alternative investments declined slightly to 12% amid the strong outperformance of public equities, although long-term investor appetite for private equity remains high.
Nearly 68% of HNWIs surveyed said they planned to increase their exposure to alternative assets such as private equity.
Indian wealth management sector sees changing investor preferences
The report highlighted changing preferences among wealthy Indian investors, who are increasingly demanding personalised financial services, access to alternative investments and AI-enabled wealth management experiences.
According to the study, traditional wealth management firms are facing rising competition from WealthTech platforms, robo-advisory firms and single-family offices.
Globally, only 19% of HNWIs now work exclusively with a single wealth management firm, down sharply from 39% in 2019.
The report noted that many wealthy clients are diversifying relationships across firms primarily to gain better access to alternative investments and specialised advisory services.
AI expected to reshape wealth management industry
The Capgemini report said the global wealth management industry is entering a major transition phase as firms increasingly adopt artificial intelligence and augmented intelligence tools to improve client engagement and advisory services.
Kartik Ramakrishnan, CEO of Capgemini’s Financial Services Strategic Business Unit, said wealthy clients, especially younger HNWIs benefiting from intergenerational wealth transfers, now expect greater personalisation and wider product access.
“Clients are seeking deeper personalization and advice that reflects their lifestyle. Firms that can deliver this at scale using AI-enabled insights and capabilities will define the next era of wealth management,” he said.
The report found that only 17% of HNWIs currently describe their advisory experience as seamless and personalised, while 42% said they often have to repeat their financial goals and preferences multiple times to the same firm.
Wealth management executives also acknowledged operational inefficiencies, with 60% saying their firms still lack a unified client view.
Private investment and technology to shape future wealth trends
The report concluded that technology adoption, AI-driven advisory services and alternative investments are likely to play a major role in shaping future wealth creation trends globally and in India.
