India has the third largest number of billionaires persons in the world, and in the next decade, upwards of 238 additional ultra high net worth people will join this club, says a report.

As indicated by AfrAsia Bank Global Wealth Migration Review, India at present has 119 billionaires, and this number is expected to grow to 357 by 2027. Throughout the following 10 years, while India is expected to make 238 additional billionaires, neighbour China is probably going to include as 448 such people.

By 2027, the United States is probably going to have the maximum number of billionaires at 884, trailed by China (697), and India (357) in the second and third positions, separately. Billionaires referred to people with net assets of USD 1 billion or more. Different nations that are required to make significant number of Billionaires throughout the next decade include Russian Federation (142), United Kingdom (113), Germany (90) and Hong Kong (78).

All around, there are 2,252 billionaires at present, and this number is expected to grow to 3,444 by 2027. As far as “total wealth” – the private wealth held by every one living in every nation – India is the 6th wealthiest nation on the planet with an total wealth of USD 8,230 billion. The US is the wealthiest nation on the planet with an total wealth of USD 62,584 billion, trailed by China (USD 24,803 billion) and Japan (USD 19,522 billion).

Components that will help in riches creation in India includes, many number of entrepreneurs, good educational system, robust outlook for IT, business process outsourcing, real estate, healthcare and media sectors which will bring about a 200 percent rise 10-year riches development estimate, as per the report. Then, worldwide riches is relied upon to ascend by 50 percent throughout the following decade, achieving USD 321 trillion by 2027.

The fastest developing wealth markets are relied upon to be Sri Lanka, India, Vietnam, China, Mauritius, the report said.

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