India is rapidly emerging as one of the most attractive destinations for global wealth managers, driven by a surge in financial wealth, a fast-growing affluent population and a large pool of investors that remains underserved by traditional wealth advisory services.

According to Boston Consulting Group's (BCG) Global Wealth Report 2026, India is expected to add more than ₹190 lakh crore in financial wealth by 2030, making it the biggest wealth-creation story among emerging markets. The report identifies India as a key market where rising prosperity, growing financial awareness and expanding investment participation are creating significant opportunities for banks, asset managers and wealth advisory firms.

India's wealth boom

The report estimates that emerging markets will collectively add around ₹1,020 lakh crore in financial wealth over the next five years. India alone is projected to account for a substantial share of that growth, outpacing many of its emerging-market peers.

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A combination of strong economic expansion, rising household incomes, increasing savings and growing participation in capital markets is helping create a new generation of affluent Indians. From startup founders and technology professionals to business owners and senior corporate executives, wealth creation is becoming broader and more diversified than ever before.

For global wealth managers searching for the next major growth market, India presents a compelling opportunity. Unlike many developed economies where wealth growth has matured, India's affluent segment is still expanding rapidly.

Investor opportunity

What makes India particularly attractive is not just the pace of wealth creation but also the gap between wealth accumulation and wealth management.

BCG highlights the affluent and emerging high-net-worth segment — individuals with financial assets ranging from roughly ₹2 crore to ₹43 crore — as one of the most underserved investor groups globally.

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Many of these investors have accumulated significant wealth but continue to keep a large portion of their assets in bank deposits or traditional savings instruments. While they have moved beyond basic banking needs, they often do not receive the customised advisory services typically reserved for ultra-high-net-worth individuals.

This creates a sizeable opportunity for wealth-management firms that can provide investment advice, portfolio construction, retirement planning, tax strategies and access to a broader range of financial products.

New wave of millionaires

The growth potential becomes even clearer when looking at the expected rise in affluent households.

BCG forecasts that the affluent and emerging high-net-worth population across developing economies will grow at an annual rate of 8% through 2030, creating more than one million new dollar millionaires.

India is expected to be a major contributor to this trend. As more households cross key wealth thresholds, demand for professional financial planning, mutual funds, portfolio management services, alternative investments and estate planning is likely to accelerate.

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Industry participants believe this shift could reshape India's wealth-management landscape over the coming decade.

Why banks are in a strong position

The report says retail banks are well positioned to capitalise on this opportunity because they already have extensive customer relationships, trusted brands and nationwide distribution networks.

However, success will require a shift away from traditional deposit-led models. Banks will need to strengthen investment advisory capabilities, expand product offerings and build digital wealth-management platforms that cater to increasingly sophisticated investors.

At the same time, independent wealth managers, registered investment advisers and fintech-driven advisory platforms are expected to compete aggressively for a share of India's growing wealth pool.

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Next growth engine

For international wealth-management firms, India offers something increasingly difficult to find elsewhere: a large, fast-growing and relatively underpenetrated market.

As wealth creation accelerates and millions of investors seek more sophisticated financial solutions, the battle to serve India's affluent population is likely to intensify. With more than ₹190 lakh crore of additional financial wealth expected to be created by 2030, India is no longer just a promising market—it is becoming one of the most important growth engines for the global wealth-management industry.

Published on: May 31, 2026 9:29 AM IST