Our Bureau
Mumbai
Wealth concentration in India has reached a new high, with just 10 individuals accounting for nearly one-fifth of the ₹104 lakh crore held by the country’s 3,040 richest people, according to the latest 360 ONE Wealth Creators Report. The combined wealth of these top wealth creators is now equivalent to almost 30 per cent of India’s nominal GDP, underscoring the rapid expansion of private wealth alongside growing concentration at the top.
The report estimates that India’s 3,040 richest individuals collectively own assets worth ₹104 lakh crore. While the country’s wealth base has expanded significantly over the past year, a disproportionately large share remains concentrated among a handful of industrialists and business families. The top 10 alone command close to one-fifth of the total wealth tracked by the report, highlighting the widening gap between the country’s wealthiest and the broader population.
The findings also point to the increasing role of capital markets in wealth creation. A substantial portion of the wealth of India’s richest individuals is linked to listed companies, reflecting the strong performance of equity markets and the growing value of promoter holdings. Earlier editions of the report had shown that listed company stakes account for the overwhelming majority of the wealth tracked among India’s richest individuals.
The expanding ranks of India’s ultra-rich are also reshaping the country’s financial services landscape. Wealth management firms are witnessing rising demand for specialised advisory services as the number of high-net-worth and ultra-high-net-worth individuals continues to grow. Industry experts say this trend is creating opportunities for private banking and investment advisory firms while intensifying competition for experienced wealth managers.
The report presents a picture of an economy generating unprecedented private wealth, even as it reignites debate over the concentration of assets and the broader implications for income and wealth inequality in India.