Overview

• India’s ultra-high-net-worth individuals are set to grow by 50% between 2023 and 2028, marking the world's fastest expansion.
• Official data shows India has overtaken Japan to become the world’s fourth-largest economy, with nominal GDP expected to reach $4.187 trillion in fiscal 2026.
• Landmarks such as Jio World Plaza and Galeries Lafayette are fueling luxury real estate growth in major Indian cities.
• Global luxury value creation has dipped in 2025 for the first time since 2016, reflecting macroeconomic headwinds even as India’s domestic market gains strength.
• New duties on luxury imports over ₹700,000 are likely to redirect affluent spending towards domestic high-end retail outlets.