I
ndia's ultra-rich, comprising Ultra High Net Worth Individuals (UHNI), High Net Worth Individuals (HNI), and the Affluent class, hold a staggering 60% of the country's wealth. According to a report by Bernstein, this group owns approximately $2.7 trillion in serviceable assets, with a significant portion still invested in real estate and gold. The total household assets in India are valued at $19.6 trillion, out of which $11.6 trillion is held by the top 1% wealth bracket, referred to as the "Uber Rich". This group accounts for just about 1% of Indian households but holds 60% of the total assets and 70% of the financial assets in the country.

    The report highlights that only $2.7 trillion of the $11.6 trillion held by the Uber Rich is considered serviceable, meaning it can be actively managed or invested. The remaining $8.9 trillion is parked in non-serviceable assets such as physical real estate, gold, and promoter equity. Breaking down the Uber Rich group further, there are around 35,000 UHNI households with a net worth of over $12 million, averaging an income of $4.8 million and assets of $54 million.

    The report emphasizes that India's wealth managers have a significant opportunity to service the country's ultra-wealthy households. The income disparity in India is striking, but the wealth disparity is even more pronounced, with the top 1% earning 40% of all income while the bottom majority holds a small portion of both income and assets.