India's wealth set to double by 2031, says report
Big news for India's financial scene: the country's total wealth is expected to double over the next six years.
Ashish Shanker from Motilal Oswal Private Wealth credits this surge to a growing number of wealthy households and more people moving their money into financial assets instead of just physical ones.
In just the past year (2024), India added 33,000 new millionaires—pretty impressive growth.
Domestic investors have pumped in $60B this year alone
The ultra-rich crowd in India is expanding fast, with that group growing at about 12% each year.
Overall, the nation's wealth pool is rising even faster than GDP, thanks to new industries popping up and investors cashing in on business successes.
Plus, domestic institutional investors have poured in $60 billion during the first seven-eight months of this year alone—helping keep markets steady even when foreign investments waver.
Shift toward financial assets
If you're interested in how money moves or where opportunities might pop up next, this shift toward financial assets and booming investor confidence could shape investment options over the next few years.