India’s millionaire tribe set to soar - Spear's Magazine

India’s millionaire tribe set to soar

While India is home to some of the poorest communities in the world it is also home to thousands of new dollar millionaires.

The number of people in the south Asian nation worth at least seven figures grew to 248,000 last year, according to a report this week by WealthInsight, a company which tracks the world’s rich. That is up from 193,000 millionaires in 2009, the report said.

India’s super-rich clan is expected to balloon further, growing by more than 100,000 to 358,000 people in 2018, WealthInsight said. Of those around 80 will be dollar billionaires, up from around 60 billionaires today.