Global Inequality Widens as 871,000 Indians Hold Millionaire Status
Updated
Updated · Mint · Jul 13
Global Inequality Widens as 871,000 Indians Hold Millionaire Status
2 articles · Updated · Mint · Jul 13
Summary
Average wealth is rising globally, but average financial conditions are worsening, with widening income gaps feeding public disaffection and social strain.
India reflects that split: 5,012 people joined its millionaire ranks in FY25, lifting the total above 871,000 even as the middle class faces growing frustration.
Capgemini and UBS data cited in the report say high-net-worth individuals now control 65% to 75% of India’s wealth and businesses, underscoring how gains are concentrated.
That imbalance is colliding with weak job readiness—only 56.35% of Indian graduates are deemed employable—while AI and automation threaten to narrow opportunities further.
The report warns that unless countries raise workforce productivity and address inequality, unrest, crime and political instability could deepen before aging societies become rich.
With India's wealth gap at a crisis point, can 'economic democracy' prevent widespread social unrest before it is too late?
While millionaires multiply, the average person suffers. Is this the inevitable future of AI-driven capitalism or a policy failure?
As AI erases traditional career paths, can India's skilling initiatives outpace the rapid displacement of its massive workforce?
India’s 944,000 Millionaires vs. the World’s Worst Wealth Gap: The 2026 Inequality Report
Overview
India's wealth landscape in 2026 is marked by extreme inequality, with 944,000 millionaires placing the country among the world's richest, yet the top 10% control 65% of total wealth and 58% of income. This concentration is deeply tied to social structures, as 88.4% of billionaire wealth is held by upper castes, while marginalized groups like Scheduled Tribes have no representation among the wealthiest. Gender disparities are also stark, with women capturing only 20% of labor income and a persistently low female labor participation rate. These patterns highlight how prosperity is limited to a small elite, leaving most Indians behind.