India's rich population grows 12% annually, but few use wealth management services.

Motilal Oswal reports that the number of High Net-Worth Individuals (HNIs) and Ultra High Net-Worth Individuals (UHNIs) in India is growing at a 12% compounded annual growth rate (CAGR), fueled by the country's expanding economy and thriving equity markets. Despite this growth, only 15% use organized wealth management services. Younger generations prefer modern investments like Alternative Investment Funds and Real Estate Investment Trusts, and the industry is expected to grow through expansion into smaller cities and tech advancements.

3 months ago
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