New Delhi, March 7 (IANS) India’s billionaire figures have risen to 308 — an increase of 24 from last year — which indicates strong wealth creation and sustained economic momentum, according to the Hurun Research Institute’s ‘Hurun Global Rich List 2026’ released on Saturday.

The increase pushed India to the third position globally in terms of the number of billionaires, behind the United States and China.

The total wealth held by Indian billionaires rose 10 per cent year-on-year to Rs 112.6 trillion, with 199 individuals seeing an increase in their fortunes.

However, 109 billionaires experienced a decline in wealth or saw their net worth remain unchanged. Women accounted for 7 per cent of India’s billionaire population.

According to the Hurun report, India’s billionaire class is expanding beyond traditional industries, reflecting the broad base of economic growth across sectors.

The healthcare sector produced the largest number of new billionaires, with 53 entrants, followed by industrial products with 36 and consumer goods with 31 new additions.

Despite fewer entrants, the energy sector commanded the largest share of wealth, generating Rs 18.3 trillion from just eight billionaires, accounting for about 16 per cent of India’s cumulative billionaire wealth.

Mumbai remained India’s top billionaire hub with 95 billionaires, although it lost its position as Asia’s billionaire capital to Shenzhen, which now hosts 133 billionaires. The Indian financial capital added 15 new billionaires, surpassing additions in New York City (14) and London (9).

Globally, New York led the ranking of billionaire cities with 146 billionaires, followed by Shanghai with 120, Beijing with 107, and London with 102.

India’s billionaires are relatively older than the global average, with an average age of 67, compared with the global average of 65, the report noted.

Meanwhile, 23 Indian women billionaires together hold a combined wealth of Rs 9.8 trillion, said the report.

–IANS

ag/na