High-Net-Worth Individuals (HNWIs) are typically defined as individuals possessing assets exceeding ₹7 crore. India has seen a substantial increase in this demographic, with the number of HNWIs growing by 6% in 2024, reaching approximately 85,698 individuals, up from 80,686 in 2023. This number is projected to rise to 93,753 by 2028, reflecting India’s expanding wealth landscape.
Notably, women are making significant strides in this domain. As of March 2025, Roshni Nadar Malhotra, chairperson of HCL Technologies, became the first Indian woman to enter the global top 10 wealthiest women list, with a net worth of ₹3.5 lakh crore.
Other prominent women in India’s wealth landscape include Savitri Jindal, chairperson emeritus of the Jindal Group, with a net worth of ₹2.8 lakh crore, and Rekha Jhunjhunwala, a renowned investor with a net worth of ₹70,000 crore.
Factors Contributing to the Rise of Women HNWIs
Several key factors have contributed to the increasing number of women HNWIs in India:
- Entrepreneurship: Many women are establishing and leading successful businesses, thereby accumulating substantial wealth. For instance, Renuka Jagtiani, chairwoman and CEO of Landmark Group, has a net worth of ₹40,000 crore.
- Corporate Leadership: Women ascending to top executive positions in major corporations are significantly enhancing their financial portfolios. Vinod Rai Gupta, running Havells alongside her son, has a net worth of ₹41,000 crore.
- Inheritance and Wealth Management: A growing number of women are inheriting wealth, leading to a more prominent presence in the HNWI segment. Smita Crishna-Godrej, a scion of the Godrej family, has a net worth of ₹35,000 crore.
The Impact of Financial Literacy and Education
Increased financial literacy among women has played a crucial role in this transformation. Educational initiatives and awareness programs have empowered women to make informed investment decisions, manage assets effectively, and engage in wealth-generating activities. This empowerment has led to more active participation in the financial sector, further accelerating their wealth accumulation .
Challenges and the Path Forward
Despite these advancements, challenges persist. Studies indicate that women often face a gender pay gap, with women earning around 20% less than men in similar roles, according to the World Economic Forum. Additionally, many women experience interrupted career trajectories due to caregiving responsibilities, which can impact their wealth accumulation over time.
Addressing these issues requires systemic changes, including policies promoting equal pay, support for working mothers, and initiatives aimed at closing the gender gap in leadership positions. Governments and corporate sectors must collaborate to create environments where women can thrive economically.
The Role of Policy and Corporate Initiatives
The Indian government has introduced several policies to support women entrepreneurs, such as the Stand Up India Scheme, which encourages women to start their own businesses. Additionally, corporate diversity programs are playing a crucial role in fostering gender equality in leadership positions. Companies like Tata Group and Infosys have set benchmarks by promoting women to executive roles, reinforcing the importance of inclusive growth.
The Future of Women HNWIs in India
The trajectory for women HNWIs in India looks promising. With advancements in education, technology, and support systems, more women are expected to join the ranks of the wealthy elite. The rise of digital platforms has also democratized investment opportunities, allowing women from diverse backgrounds to participate in wealth creation.
Furthermore, as India continues to grow as an economic powerhouse, the role of women in driving this growth will become even more critical. Their contributions will not only shape industries but also influence global markets.
Conclusion
The rise of women HNWIs in India marks a significant milestone in the nation’s economic development. This trend not only highlights the growing economic power of women but also reflects broader societal shifts towards gender equality and empowerment. By continuing to address existing challenges and fostering an environment that supports women’s financial independence, India can look forward to a more inclusive and prosperous economic future.
The journey of women HNWIs in India is not just about wealth creation; it’s about breaking barriers, redefining leadership, and inspiring future generations. As we move forward, let’s celebrate their achievements and support policies that continue to nurture this new era of wealth creation.
