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
March 20,2025

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Gaza’s health ministry says Israel’s renewed savagery has led to the massacre of at least 970 people in 48 hours.

The wave of deadly airstrikes that shattered a fragile ceasefire in Gaza on Tuesday has so far claimed the lives of at least 970 people across the besieged territory, the health ministry said in a statement on Wednesday.

Before the resumption of the offensive, the death toll from the regime’s 15 months of genocidal war recorded by the ministry at midday on March 17 stood at 48,577.

By midday on Wednesday, the figure had risen to 49,547, the ministry said.

The health ministry also registered "one death and five severe injuries among foreign staff working for UN institutions.”

It said Israel attacked a UN headquarters in Deir el-Balah, in the central Gaza Strip, on Wednesday.

The victims had been taken to the Al-Aqsa Martyrs Hospital, the health ministry said.

Israel's military denied attacking a UN building in Gaza.

The UN Office for Project Services (UNOPS) confirmed the death of one of its staff by an explosive that was "dropped or fired" on its building in Deir el-Balah.

"An explosive ordnance was dropped or fired at the infrastructure and detonated inside the building,” it said, adding that five others were injured.

UNOPS Executive Director Jorge Moreira da Silva said he was "shocked and devastated" by the death of a staff member.

“This was not an accident.”  he said, adding that "attacks against humanitarian premises are a breach of international law."

Bulgaria's foreign ministry said later in the day that one of its citizens working for the United Nations was killed in Gaza, without specifying where in the territory.

Benjamin Netanyahu of Israel threatened on Tuesday that the massacre of women and children in Gaza was “only the beginning.” He stands accused of committing war crimes and ethnic cleansing in Gaza.

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News Network
March 15,2025

Mangaluru: Parents in coastal Karnataka are facing a significant financial burden as private schools across the region have implemented a sharp 20% or higher fee hike for the new academic year. This marks a drastic increase compared to the 6-15% annual hikes over the past four years. Schools justify the rise by citing increased teacher salaries and rising operational costs.

A parent from a CBSE school in Moodbidri reported that last year, his child's school fee was Rs 23,000, excluding transport and books. This year, it has jumped to Rs 29,000. "Fees for all classes in our school have been hiked by Rs 6,000," he shared.

Similarly, Jean D'Souza, whose two children study at an ICSE school in Mangaluru, said the school has increased fees by Rs 5,000 this year, from Rs 46,000 to Rs 51,000. Another parent from an ICSE school on the outskirts of the city reported a 20% hike and urged the government to intervene and regulate school fee increases.

Additional Costs Add to Parents’ Burden

Parents highlighted that beyond tuition fees, they also bear expenses for transport, uniforms, and books. Monthly transport fees range between Rs 1,500 and Rs 2,500, while book costs amount to Rs 5,000 to Rs 6,000 per child annually. However, some relief comes from schools allowing fee payments in installments. "Many schools permit two to four installments, which helps ease the financial strain for parents," said a school management representative.

Schools Defend the Fee Hike

A school principal explained the reasons behind the steep fee increase this year. "Most schools refrained from major fee hikes after the pandemic. However, teacher salary demands have increased, and with a shortage of trained educators, retaining them is difficult without annual pay raises," he said.

Other rising costs include electricity, water, building maintenance, government fees, and general operational expenses. School managements argue that these factors make the fee hike necessary to sustain quality education.

While parents express frustration over the rising costs, the debate over striking a balance between affordability and sustaining quality education continues. Many now call for government intervention to regulate private school fee structures, ensuring that education remains accessible to all families.

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News Network
March 15,2025

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The US Department of Homeland Security (DHS) has confirmed that Ranjani Srinivasan, an Indian doctoral student at Columbia University, has voluntarily left the United States after her visa was revoked over alleged support for Hamas, the democratically elected party in Gaza.

Srinivasan, a PhD student in Urban Planning, was in the US on an F-1 student visa. The US Department of State revoked her visa on March 5, 2025, citing security concerns related to her alleged involvement in activities supporting Hamas. On March 11, 2025, she self-deported using the CBP Home App, with officials confirming video footage of her departure.

US Homeland Security's Response

Secretary of Homeland Security Kristi Noem emphasized that studying in the US on a visa is a privilege, which can be revoked if an individual is found to support violence and terrorism. She stated that such individuals should not be permitted to stay in the country.

Srinivasan’s Academic Background

Srinivasan’s academic credentials include:

  • M.Phil in Urban Planning – Columbia University (GSAPP)
  • Master’s in Design – Harvard University (Graduate School of Design)
  • Bachelor of Design (B.Des.) – CEPT University, India
  • Her research focuses on land-labor relations in India’s peri-urban areas, with academic interests in political economy, land politics, and labor sociology.

'Security Concerns'

Her case has gained attention amid increased US government scrutiny of individuals and organizations allegedly supporting Hamas. Visa revocations for security reasons have become more frequent, reflecting the government's strict stance on national security and immigration policies.

Srinivasan’s self-deportation highlights the US government’s ongoing efforts to enforce visa regulations and prevent individuals it considers a security threat from remaining in the country.

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