Indian Millionaires

India ranks third in the world's first-ever global study on the rise of centi-millionaires -- individuals with assets of more than Rs 830 crore ($100 million), a new report has revealed

According to HSBC Holdings Plc. report in Bloomberg, Singapore will take over Australia and have Asia's highest share of millionaires in the adult population by 2030

There was also a significant rise in number of people who declared their income between Rs 10 lakh and Rs 1 crore, data from the Finance Ministry showed

Dollar millionaires and billionaires will grow by 80% over the decade in India

While India had 764,000 dollar-millionaires in 2019 by one account, just 316,000 filed tax returns declaring income of over $75,000. Large-scale I-T evasion may still be taking place, notes T N Ninan

Dollar millionaires or those possessing a personal wealth of over Rs 7 crore rose by 11% to 4.58 lakh households in India at the end of the pandemic-hit 2021, says a survey.

Resident individuals can remit up to $250,000 a year outside India under the Liberalised Remittance Scheme

A total of 254 millionaires from India have used the so-called golden visa to settle down in the UK

The country's growth on both the number of HNIs and wealth is faster than the global average of 11.2% and 12%, respectively

India is home to 2,64,000 millionaires and 95 billionaires