India Luxury Market
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India has the world’s third largest population of billionaires. Leading the pack are Mukesh Ambani and family with a net worth of $105.99 billion (INR 9.8 lakh crores) as of 2026. They are also the richest family in Asia. On the second spot are Gautam Adani and family with wealth exceeding $81.11 billion (INR 7.5 lakh crores).
Mukesh Ambani is India and Asia's richest man in 2026. In Pic Mukesh Ambani with wife Nita Ambani
In 2026, among India’s top 10 richest people Cyrus Poonawalla and family, the fourth richest in India, noted the highest increase in wealth as it rose by 44% in just one year The Poonawalla family net worth is $32.44 billion (INR 3 lakh crore). Cyrus Poonawala is the founder of Serum Institute of India, the world’s biggest vaccine maker. Global style icon Natasha Poonawalla is Cyrus’s daughter-in-law.
India is home to 308 billionaire individuals and families, up 24 from 2025. While India has the third largest population of billionaires in the world, it is far behind China and the US that have 1100 and 1000 billionaires, respectively.
Mumbai is India’s billionaire capital with 95 billionaires. In the list of the world’s top cities with the largest billionaire population, Mumbai ranks 6th globally and 4th in Asia. Notably, 6 of the top 10 global cities to house the world’s largest cohort of billionaires, are in Asia – Shenzhen, Shanghai, Beijing, Mumbai, Hong Kong and Hangzhou.
32 years old Ritesh Agarwal, the founder of OYO, a hospitality and hotel aggregator-website is India’s youngest self-made billionaire with wealth of $1.56 billion (INR 14,440 crore)
In India, Mumbai has the largest population of billionaires with 95 individuals and families followed by New Delhi with 64 billionaires. In third place is Bengaluru with 30 billionaires. Hyderabad, Pune and Ahmedabad are also important wealth hubs in India.
Roshni Nadar Malhotra is India’s richest woman. She, along with her family has a net-worth of $34.63 billion (INR 3.2 lakh crore). She is the only woman in India’s top 10 richest people list. Roshni Nadar is the chairperson of HCL Technologies, one of the leading tech companies in the world. She took over this position from her father – Shiv Nadar, who is the founder of HCL Tech.
Mukesh Ambani built his wealth as the chairman of Reliance Industries Limited (RIL), which is one of India’s largest business groups. He owns about 50% of the company. Under his leadership, the business has grown into a massive empire that includes energy oil refining, retail , telecommunications, and digital services. His home in Mumbai alone is valued at $2 billion. Mukesh Ambani has three children Aakash, Isha and Anant Ambani who hold executive positions in Reliance group. The eldest son, Aakash Ambani, chairs Reliance Jio Infocomm Limited (RJIL) and co-owns the Mumbai Indians, an Indian Premier League cricket team. Isha Ambani directs Reliance Retail Ventures Limited (RRVL), through which she spearheaded global acquisitions of Hamleys and Indian startups Urban Ladder and Netmeds.
The Reliance group was started by Mukesh Ambani’s father Dhirubhai Ambani in the late 1950s.
Gautam Adani and family’s wealth is valued at $81.11 billion (INR 7.5 lakh crores) as of 2026. It dropped by 14% as compared to 2025. Gautam Adani’s wealth plummeted due to two major legal blows. A November 2024 indictment in New York for alleged bribery and fraud. This case has been cleared and permanently closed as on May 2026. The other case is a U.S. Treasury probe into Iranian sanction violations from February 2026 . These events triggered a massive stock market sell-off and the collapse of multi-billion dollar international deals.
Amit specialises in data analytics, consumer trends & India luxury market strategies for global brands. Amit is a Gen-Z writer. He previously worked at Reuters & MSN.
India is cutting import duties on many luxury goods; cars, watches, cosmetics & wines through new trade deals with the EU, UK, UAE, Switzerland and Australia. Lower taxes will boost demand of foreign luxury goods in India, encouraging more global brands to enter and expand in the market.
At key global red carpet events, Alia Bhatt has out-ranked icons like Zendaya and Kendall Jenner, while generating multi-million dollar EMV for brands like Gucci & L’Oréal. Discover how the Indian actress strategically built her influence from a teenage movie star to an ROI magnet from south Asia.
India is significantly reducing import duties on alcoholic beverages and liquor – premium wines, whisky, beer, rum, vodka and tequila – as part of new trade deals with the UK, EU, Australia, New Zealand, Switzerland and Finland. See which major alcobev brands and spirits will benefit the most.
His watches are priced at an average $100,000 and yet attract a long waiting list of buyers. Even Chanel has acquired a stake in his company. He has won every major watch industry award in the world. Meet Maximilian Büsser, the Swiss-Indian watchmaker and founder of the unconventional watch brand MB&F
Reliance Brands Limited (RBL) is the premium and luxury retail powerhouse of the Reliance Industries conglomerate. It is the India partner for global brands such as Balenciaga, Bottega Veneta, Burberry, Giorgio Armani, Tiffany & Co., Valentino, and Versace. It also holds significant stakes in leading Indian designers like Manish Malhotra and Abu Jani Sandeep Khosla.
Aditya Birla Fashion Retail Ltd. (ABFRL) is India’s single largest pure-play fashion conglomerate. It is India partner of Galeries Lafayette and Christian Louboutin. ABFRL owns a majority stake in India’s most valuable luxury brand - Sabyasachi. Other Indian luxury and premium fashion brands in its portfolio are - Tarun Tahiliani. Shantnu & Nikhil, Masaba and Jaypore.
DLF is a leading luxury real estate and retail developer in India. DLF built India’s first dedicated mall for luxury brands. It currently runs 2 luxury malls in the national capital region (NCR). DLF also makes ultra-luxury homes, some of which are among the most expensive in India.
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