Assets held by India's family offices are projected to grow 1.5 times over the next three years from approximately INR700bn, or $7.1bn, in 2024, according to research by Julius Baer and EY. The report links this growth to a larger pool of wealth, more advanced investment approaches and the rising role of family offices as providers of long-term capital. India currently has more than 19,000 ultra-high-net-worth individuals, a figure projected to cross 25,000 by 2031, and intergenerational wealth transfers valued at roughly $1.3tn to $1.5tn are expected over the next decade. Around 40% to 45% of allocations in many family offices now go to alternative assets including private equity, venture capital, private credit, alternative investment funds, REITs and infrastructure investment trusts, while direct and co-investment activity is increasing in sectors such as AI, climate technology, renewable energy, semiconductors, electronics manufacturing, cloud services and data centre infrastructure.
Julius Baer Gruppe AGJulius Baer co-authored the research projecting growth in Indian family office assets, positioning it to benefit from increased demand for wealth management services.
