Lavish is not just a word for the fortunate in the country; it’s a way of life. India’s GDP growth may be slowing down, but there’s no stopping the rich from getting richer. The Knight Frank Private Wealth 2019 report forecasts India will lead the growth in the number of ultra-high networth individuals (UHNWI), which will increase by 39% by 2023. Yes, we will be accumulating wealth faster than the citizens of the dragon. That’s despite a high base, since India’s UHNWI population has already been growing at 30% in the past five years. There will be nearly 2,700 individuals with a combined wealth of thrice the size of Indian GDP. In fact, according to a New World Wealth report, Mumbai, the home to Asia’s largest slum, is the 12th wealthiest city in the whole world with a total wealth of $950 billion; Delhi ranks 22nd on that chart. Well, income disparity be damned, at least for the uber rich.
