Young entrepreneurs and tech pioneers are redefining the high net worth individual (HNI) group, causing a seismic upheaval in India’s wealth landscape. More than 15% of HNIs in the nation are under 30, and by the end of the decade, this percentage is predicted to increase by 25%, according to a recent analysis by Anarock Property Consultants. A new era of prosperity is being ushered in by the explosive growth of startups, unicorns, and technology-driven businesses.
Credits: Square Feat India
Youthful Energy Driving Wealth Creation
The rise of youthful HNIs in India is evidence of the nation’s technological innovations and spirit of entrepreneurship. Fintech, IPOs, and unicorn startups are the main forces behind this change, according to the report. “A dynamic mix of young entrepreneurs, tech pioneers, and seasoned industrialists is driving the expansion in the affluent population,” says Prashant Thakur, Regional Director and Head of Research at Anarock.
Young wealth producers are changing the definition of affluence rather than merely increasing the numbers. Their emphasis on creativity, daring, and a global perspective is paving the way for an unparalleled increase in wealth among those under thirty.
Technology and Startups: The Powerhouses of Wealth
The report highlights that 30% of HNIs credit their wealth to technology, fintech, and startups. These sectors, underpinned by India’s burgeoning digital ecosystem, have created opportunities for entrepreneurs to scale rapidly and achieve unicorn status.
Additionally, the Make-in-India initiative has played a pivotal role in boosting industrial wealth, contributing 21% to the economy of ultra-high net worth individuals (UHNIs). This initiative has not only spurred domestic manufacturing but also attracted significant global investments, creating new avenues for wealth generation.
Luxury Real Estate and Equities Lead the Way
Among the sectors contributing to wealth growth, luxury and commercial real estate accounted for 15%, while equities added 18% year-on-year (YoY). Indian HNIs are increasingly looking to diversify their assets, with real estate offering stability and equities delivering robust returns.
Moreover, the report reveals that 14% of UHNIs own properties abroad, with hotspots like Singapore, London, and Dubai being top choices. The average global property investment among Indian UHNIs has surpassed ₹12 crore in 2024, reflecting their growing international presence.
Lavish Lifestyles: Cars, Vacations, and Curated Experiences
India’s UHNIs are also making headlines for their luxurious lifestyles. Over 37% of Indian HNIs purchased high-end vehicles in 2024, leading to record sales for brands like Rolls Royce and Porsche. Luxury cars are more than a status symbol; they represent the aspirations and achievements of this elite group.
Travel and experiences are another area where Indian UHNIs spare no expense. The report states that they spend an average of ₹6 crore annually on bespoke vacations, curated experiences, and luxury cruises. These expenditures underline their preference for exclusivity and personalized offerings.
Global Investments and Family Offices
Indian UHNIs are increasingly diversifying their wealth abroad. 25% of UHNIs prioritize assets in North America and Europe, driven by the need for stability and international opportunities. Investments in global markets not only provide diversification but also serve as a hedge against local economic fluctuations.
Furthermore, 40% of UHNIs have established family offices to manage wealth, succession planning, and philanthropy. These offices act as strategic hubs for wealth preservation and expansion, ensuring that their legacy is secure for future generations.
What the Future Holds
The HNI and UHNI segments are expected to undergo a rapid change over the next ten years, with younger people leading the way. Young HNIs will have a greater impact on the economy, investing trends, and lifestyle choices as their numbers increase. Their emphasis on global diversification, technology, and sustainable practices is probably going to change how people traditionally define success and riches.
With its young people leading the charge, India is poised for a revolution in riches. The emergence of young, wealthy people is a symptom of both economic expansion and a change in mentality, one that values creativity, audacity, and an international outlook. These young leaders are poised to reshape what it means to be genuinely affluent in the contemporary day as they forge new routes.
Comments are closed.