8,200 Indians have wealth worth $945 billion: report

Wealth-X estimates that there are 8,200 Indians (including Non-Resident Indians) worth more than $30 million with an aggregate net worth of $945 billion.

A wealth intelligence firm, Wealth-X on Wednesday unveiled the findings as the sidelines of launching its latest Intelligence Briefing, which also offered a compilation of insight on the number of India's Ultra High Net Worth Individuals (UHNW).

"India specifically presents one of the greatest opportunities for wealth managers around the world," says Wealth-X CEO Mykolas Rambus. "We are excited to equip wealth and asset managers with detailed market intelligence to strategically plan and grow their businesses."

Wealth-X said that there are at least 115 Indian billionaires worth a combined $195 billion and more than 275 individuals worth more than $500 million.

These Indian plutocrats are worth at least a combined $300 billion, representing nearly a third of the collective net worth of all Indian UHNW individuals, the statement said.

The new intelligence briefing details the number of Indian UHNW individuals by 8 wealth tiers, from $30 million to greater than $1 billion. These individuals' collective net worth of at least $945 billion includes shares in public and private companies, residential and investment properties, art collections, planes, cash and other investible assets.

New millionaires continue to rise every week in India. Many of these moguls venture forward to become UHNW individuals within a few years of creating their initial fortunes, it noted.