India now home to 191 billionaires; 26 joined last year: Knight Frank

News Network
March 5, 2025

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The number of Indian high-net-worth individuals (HNWIs), those having assets more than $10 million, rose 6 per cent last year to 85,698, according to Knight Frank.

Global property consultant Knight Frank on Wednesday released its 'The Wealth Report 2025', which estimated the HNWI population in India at 85,698 in 2024, as against 80,686 in the preceding year.

The number is expected to rise to 93,753 by 2028, reflecting India's expanding wealth landscape, the consultant said.

The increasing trend of HNIW population highlights the country's strong long-term economic growth, increasing investment opportunities, and evolving luxury market, positioning India as a key player in global wealth creation.

India's billionaire population has also seen a strong year-on-year growth in 2024.

"India is now home to 191 billionaires, of which 26 joined the ranks in just the last year, which was pegged at just 7 in 2019," the consultant said.

The combined wealth of Indian billionaires is estimated at $950 billion, ranking the country third globally, behind the US ($5.7 trillion) and Mainland China ($1.34 trillion).

"India's growing wealth underscores its economic resilience and long-term growth potential. The country is witnessing an unprecedented rise in high-net-worth individuals, driven by entrepreneurial dynamism, global integration, and emerging industries," Shishir Baijal, Chairman & Managing Director, Knight Frank India, said.

This expansion is not just in scale but also in the evolving investment preferences of India's elite, who are diversifying across asset classes, from real estate to global equities, he added.

"In the decade ahead, India's influence in global wealth creation will only strengthen," Baijal said.

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News Network
December 4,2025

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Domestic carrier IndiGo has cancelled over 180 flights from three major airports — Mumbai, Delhi and Bengaluru — on Thursday, December 4, as the airline struggles to secure the required crew to operate its flights in the wake of new flight-duty and rest-period norms for pilots.

While the number of cancellations at Mumbai airport stands at 86 (41 arrivals and 45 departures) for the day, at Bengaluru, 73 flights have been cancelled, including 41 arrivals, according to a PTI report that quoted sources.

"IndiGo cancelled over 180 flights on Thursday at three airports-Mumbai, Delhi and Bengaluru," the source told the news agency.

Besides, it had cancelled as many as 33 flights at Delhi airport for Thursday, the source said, adding, "The number of cancellations is expected to be higher by the end of the day."

The Gurugram-based airline's On-Time Performance (OTP) nosedived to 19.7 per cent at six key airports — Delhi, Mumbai, Chennai, Kolkata, Bengaluru and Hyderabad — on December 3, as it struggled to get the required crew to operate its services, down from almost half of December 2, when it was 35 per cent.

"IndiGo has been facing acute crew shortage since the implementation of the second phase of the FDTL (Flight Duty Time Limitations) norms, leading to cancellations and huge delays in its operations across the airports," a source had told PTI on Wednesday.

Chaos continued at several major airports for the third day on Thursday because of the cancellations.

A spokesperson for the Kempegowda International Airport (KIA) in Bengaluru said that 73 IndiGo flights had been cancelled on Thursday.

At least 150 flights were cancelled and dozens of others delayed on Wednesday, airport sources said, leaving thousands of travellers stranded, according to news agency Reuters.

The Directorate General of Civil Aviation (DGCA) has said it is investigating IndiGo flight disruptions and has asked the airline to submit the reasons for the current situation, as well as its plans to reduce flight cancellations and delays.

It may be mentioned here that the pilots' body, Federation of Indian Pilots (FIP), has alleged that IndiGo, despite getting a two-year preparatory window before the full implementation of new flight duty and rest period norms for cockpit crew, "inexplicably" adopted a "hiring freeze".

The FIP said it has urged the safety regulator, the DGCA, not to approve airlines' seasonal flight schedules unless they have adequate staff to operate their services "safely and reliably" in accordance with the New Flight Duty Time Limitations (FDTL) norms.

In a letter to the DGCA late on Wednesday, the FIP urged the DGCA to consider re-evaluating and reallocating slots to other airlines, which have the capacity to operate them without disruption during the peak holiday and fog season if IndiGo continues to "fail in delivering on its commitments to passengers due to its own avoidable staffing shortages."

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News Network
November 30,2025

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Mangaluru, Nov 30: A 22-year-old college student succumbed to her injuries at a private hospital in Mangaluru today, days after she was hit by a goods tempo while crossing a road in Padubidri.

The deceased has been identified as Preksha, a resident of Nadsalu Billitota in Padubidri. The fatal incident occurred as Preksha, who was returning home after completing her examination, attempted to cross the service road towards Mangaluru. She was struck by a goods tempo approaching from the Udupi side, causing her to fall and sustain a severe head injury.

Prompt action from local residents ensured she received immediate first aid before being rushed to a hospital in Mangaluru for specialised treatment. Despite medical efforts, she passed away while undergoing care.

Preksha was a student at Karavali College, Vamanjoor on the outskirts of Mangaluru city. The tragedy is compounded by the fact that she belonged to a financially vulnerable family, having previously lost her father. She is survived by her mother and brother.

A case related to the accident has been registered at the Padubidri police station, and an investigation is underway to determine the exact circumstances that led to the collision. The incident highlights the growing concerns over road safety, particularly on busy service roads, and serves as a tragic reminder of the human cost of traffic accidents.

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News Network
November 26,2025

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Bengaluru, Nov 26: Karnataka is taking its first concrete steps towards lifting a three-decade-old ban on student elections in colleges and universities. Deputy Chief Minister D.K. Shivakumar announced Wednesday that the state government will form a small committee to study the reintroduction of campus polls, a practice halted in 1989 following incidents of violence.

Speaking at a 'Constitution Day' event organised by the Karnataka Congress, Mr. Shivakumar underscored the move's aim: nurturing new political leadership from the grassroots.

"Recently, (Leader of the Opposition in Lok Sabha) Rahul Gandhi wrote a letter to me and Chief Minister (Siddaramaiah) asking us to think about restarting student elections," Shivakumar stated. "I'm announcing today that we'll form a small committee and seek a report on this."

Student elections were banned in Karnataka in 1989, largely due to concerns over violence and the infiltration of political party affiliates into campus life. The ban effectively extinguished vibrant student bodies and the pipeline of young leaders they often produced.

Mr. Shivakumar, who also serves as the Karnataka Congress president, said that former student leaders will be consulted to "study the pros and cons" of the re-introduction.

Acknowledging the history of the ban, he added, "There were many criminal activities taking place back then. We’ll see how we can conduct (student) elections by regulating such criminal activities."

The Deputy CM reminisced about his own journey, which began on campus. He recalled his political activism at Sri Jagadguru Renukacharya College leading to his first Assembly ticket in 1985 at the age of 23. "That's how student leadership was at the time. Such leadership has gone today. College elections have stopped," he lamented, adding that for many, college elections were "like a big movement" where leaders were forged.

The move, driven by the Congress high command's push to cultivate young talent, will face scrutiny from academics and university authorities who have, in the past, expressed concern that the return of polls could disrupt the peaceful academic environment and turn campuses into political battlegrounds.

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