According to Knight Frank's flagship study, 'The Wealth Report 2024', the number of ultra-rich Indians will rise by 50.1 per cent to 19,908 in 2028 from 13,263 in 2023.
India will be followed by China (47 per cent), Türkiye (42.9 per cent), and Malaysia (35 per cent). Liam Bailey, global head of research at Knight Frank, told Business Standard that the main reason behind this high growth rate in India is its robust gross domestic product (GDP) growth.
"The primary reason is the outlook for the Indian economy.
We use economic forecasts in terms of GDP growth for each country that we cover. And there, the view is that the Indian economy is set to outperform over the next five years. That is the biggest driver," he said.
Bailey added that its large diaspora also ensures a high level of innovation and strong connectivity with outside businesses and countries.
Bu hikaye Business Standard dergisinin February 29, 2024 sayısından alınmıştır.
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Bu hikaye Business Standard dergisinin February 29, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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