New Delhi — India is recently very rich because of the dollars that it is bringing into the country. The number of dollar millionaires in India in 2014 rose to 2.5 lakh from 1.96 lakh in 2013 which is an increase of around 27%. India would also have 4.37 lakh millionaires by 2018 and double that number in 2023.
This means that India would be very close to USA in financial matters. The nation also has increased number of young and educated population with high levels of entrepreneurship and business ownership that helps in increasing the business levels in the country. India and South Africa would see their millionaire populations swell up in the coming decade. India had the 14th largest millionaire population in the world in 2013-14. The Wiire reported.
U S., Japan, China and the U.K. have been leading the league. India had 8,595 UHNW individuals in 2014, with wealth amounting to $1.01 trillion due to which India has been put into the sixth place in global rankings. The number of individuals grew along with their wealth in 2014. The number of billionaires in India is not proportionate with its small GDP compared to countries like the U.S. and China though.