What are the Super Rich in India splurging on?

Individuals with net worth of $30 million or more are considered as ultra high net-worth individuals (UHNIs). This grew 80% in India between 2016 and 2021

The collective spending power of UHNIs is expected to add more bling to the expanding luxury segment in India

The luxury goods market is expected to cross Rs 50,000 crore by 2024


70-80 luxury homes worth Rs 100 crore or above were sold in the past 4-5 years...

...these were mostly in Delhi and Mumbai


Porsche was the most preferred luxury car brand by uber rich Indians with 413 units being sold in 2021-22

The lowest priced Porsche costs over Rs 83 lakh while higher end models can cost upwards of Rs 3 crore

UNHIs also splurged on Lamborghini, Rolls-Royce and Bentley luxury cars, the prices for these cars also run into several crores

Living king size also comes with a rise in spend by the super rich on experiential luxury

The luxury hotels and food service market will likely cross Rs 10,000 crore in the next three years

In post-pandemic revenge spending, there is ‘cheers’ all around even for the fine wines and luxury spirits segment...

...it may cross Rs 1,200 crore by 2024

India’s current luxury goods market size is pegged at $5.83 billion...

...and the ‘have money, will spend’ attitude of the super rich will propel this further in the coming years


Magazine story by - Rahul Oberoi & Prince Tyagi
Designed by - Mohsin Shaikh
Produced by - Prashanti Moktan

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