₹70,000 crore and growing: India’s family office assets set to rise 1.5x in three years — where are wealthy investing?

India's family office ecosystem is entering a new phase of growth, with assets estimated at around ₹ 70,000 crore in 2024 and projected to grow by 1.5 times over the next three years, according to the latest Julius Baer-EY report.

The report also highlights a shift in how wealthy Indian families are deploying their capital as it reports growing allocations to alternative investments and increasing interest in sectors such as artificial intelligence (AI), renewable energy, semiconductors and private markets.

A record 229 Indians were featured on Forbes’s 2026 World’s Billionaires list, with 30 newcomers and total wealth surpassing $1 trillion. Mukesh Ambani remains the country's richest, while the top 10 business families and individuals account for over a third of the cumulative net worth.

An estimated $1.3 trillion-$1.5 trillion of intergenerational wealth is expected to change hands over the coming decade, creating a larger pool of capital for family offices to manage and invest, the report noted.

As a result, family offices are expected to take on a broader role that extends beyond traditional wealth management, with greater focus on succession planning, governance, entrepreneurship and long-term capital formation.

India today has more than 19,000 ultra-high-net-worth individuals (UHNIs), with the number expected to exceed 25,000 by 2031, the data suggested.

So where are these families actually putting their money? Here's a look at the hottest investment avenues among the rich:

This data indicates that wealthy families are not longer sticking to traditional investments. Instead, they are seeking opportunities that offer high growth, inflation protection and exposure to disruptive sectors such as AI.

Commenting on the report's findings, Kunal Sumaya, Ad Interim Country Head - India & Market Head - Global NRI at Julius Baer, said that the scale and pace of this evolution among India's richest families is being shaped by factors such as wealth creation driven by a strong startup ecosystem and the rise of Indian primary markets, the institutionalisation of Indian capital markets, and a generational shift in wealth management and deployment.

“As India prepares for one of the most significant intergenerational wealth transfers in its history, the families that embrace this moment to build institutional discipline, strengthen governance, invest in technology and talent, and take a long-term approach to managing wealth will not only preserve their legacies, but emerge as architects of India's economic future,” he noted.

Eshita Gain is a digital journalist at Mint, where she joined in May 2025. She writes on corporate developments, personal finance, markets, and business trends, with a focus on delivering timely and relevant stories to a broad audience. <br><br> While her core beat lies in business and finance, she is not confined to a single niche and frequently explores stories across domains, including international relations and policy developments. <br><br> She holds a postgraduate diploma in business and financial journalism by Bloomberg from the Asian College of Journalism (ACJ), Chennai.