India a bright spot for millionaires

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The number of millionaires, or high net-worth individuals (HNWI), living in India is expected to jump by 135 per cent - from 236,000 in 2015 to 554,000 by 2025.

According to New World Wealth, a global wealth intelligence and market research company, this will make India one of the top five performing HNWI markets in the world over the next 10 years, along with Vietnam, Sri Lanka, China and Mauritius.

This will be fuelled by strong growth in local financial services, professional services and the media sectors, the report said.