인도 자산관리 시장 규모는 2024년 1,542억 5,000만 달러에서 2032년 3,311억 3,000만 달러에 달할 것으로 예상되며, 예측 기간(2025-2032년) 동안 연평균 10.02%의 성장률을 보일 것으로 예상됩니다. 금융 서비스 산업은 현재 산업 환경을 변화시키는 다양한 요인들이 결합하여 큰 변화의 시기를 맞이하고 있습니다. 이러한 요인으로는 투자자의 도시화, 산업의 틀을 형성하는 규제 변화, 금융 서비스 제공 방식을 변화시키는 기술 발전, 시장 역학에 영향을 미치는 인구 통계학적 변화 등이 있습니다.
인도에는 저축, 투자, 자산 보호의 전통이 있으며, 가족들은 전통적으로 신뢰할 수 있는 조언자에게 재정적 지도와 지원을 받아왔습니다. 그러나 급속한 경제 성장, 세계화, 규제 환경의 강화, 세계 금융 시장에 대한 접근성 강화에 따라 인도의 자산관리 부문은 큰 진화를 보이고 있으며, 2013년 투자자문업 규제와 2019년 금융자문업 규제는 자산관리 산업에 투명성과 책임성을 도입했습니다. 이러한 변화는 개인의 자산관리 방식을 변화시켰고, 금융 서비스 제공업체가 고객의 변화하는 요구와 기대에 부응할 수 있는 새로운 기회와 도전과제를 창출했습니다.
지난 몇 년 동안 인도는 경제 성장, 기업가 정신, 중산층 확대 등에 힘입어 고액자산가(HNWI) 커뮤니티가 눈에 띄게 증가했습니다. 이들은 자산을 강화하고 보호하기 위해 전문적인 자산관리 서비스를 찾고 있습니다. 인도의 인구 통계가 변화하고 있으며, 디지털 지향적인 세대가 자동화된 자산관리 솔루션에 매력을 느끼면서 기업들은 기술과 디지털화에 자원을 투입할 수밖에 없는 상황입니다.
인도의 부유층은 과거에는 타타 가문, 빌라 가문 등 소수의 기업가 가문들이 지배했습니다. 그러나 최근에는 많은 신세대 기업가, 쇼 비즈니스, 미디어, 스포츠계의 유명 인사들이 진입하고 있습니다. 의사, 변호사, 그리고 직장인들, 특히 스톡옵션을 받은 직장인들이 대표적입니다.
부유층과 중산층 증가가 전체 수요에 영향
인도의 중산층이 빠르게 성장하고 있으며, 부유층(HMWI)의 수도 크게 증가하고 있습니다. 사람들이 더 많은 부를 축적함에 따라 자산을 유지하고 확장하기 위한 전문적인 재무 계획 및 투자 관리에 대한 수요가 증가하고 있습니다. 인구 통계학적 변화로 인해 부유층 자산관리 서비스의 고객 기반이 확대되고 있으며, 재무 목표를 달성하기 위해 정보에 입각한 재무 자문과 개인 맞춤형 투자 전략을 찾는 사람들이 증가하고 있습니다. 인도는 2027-2028년 5조 달러 규모의 경제 규모가 될 것으로 예상되며, 스타트업의 시장 진입으로 매일 3명이 3,000만 달러 이상의 순자산을 보유한 초고액자산가(UHNW)에 합류할 것으로 예상됩니다.
부 창출 및 운용 기회 촉진
지난 수십 년 동안 인도의 강력한 경제 성장은 국민들의 소득 향상과 부의 축적을 가져왔습니다. 경제 활성화는 저축과 투자 활동의 증가로 이어졌습니다. 경제가 성장함에 따라 개인과 기업이 관리하는 자본이 증가함에 따라 전문적인 재무 자문과 다양한 투자 기회에 대한 수요가 증가하고 있습니다. 자산관리 회사들은 부유하고 투자에 정통한 사람들에게 맞춤형 금융 솔루션을 제공함으로써 이러한 추세를 활용하고 인도 자산관리 시장의 성장에 기여할 수 있는 위치에 있습니다.
인도 자산관리 시장 점유율을 독식하고 있는 서부 지역
인도 자산관리 시장은 서부 지역이 압도적인 점유율을 차지하고 있습니다. 이 지역에는 금융기관, 증권거래소, 기업 본사가 집중되어 있어 자산관리 서비스를 위한 탄탄한 환경이 조성되어 있습니다. 특히 금융 활동으로 유명한 서부 지역은 인도에서 부유층(HNWI)이 가장 많이 거주하고 있어 고급 재무설계 및 투자관리 수요를 촉진하고 있습니다. 주식, 뮤추얼펀드, 대체투자 등 다양한 금융상품에 투자하는 문화가 뿌리내린 것도 이 지역의 자산관리 산업의 호황을 뒷받침하고 있습니다. 서부 지역이 주도하는 가운데, 북부와 남부 등 다른 지역도 부유층 증가와 경제 활동의 확대로 인해 중요한 시장으로 부상하고 있습니다.
이 보고서는 인도 자산관리 시장에 대해 조사 분석하여 시장 규모와 예측, 시장 역학, 주요 기업 현황과 전망 등을 제공합니다.
India's wealth management market is projected to witness a CAGR of 10.02% during the forecast period FY2025-FY2032, growing from USD 154.25 billion in FY2024 to USD 331.13 billion in FY2032. The financial services industry is currently undergoing a significant transformation driven by a blend of various factors that are reshaping the landscape. These factors include the increasing urbanity among investors, regulatory changes that are shaping the industry's framework, advancements in technology that are revolutionizing the way financial services are delivered, and shifting demographics that are influencing the market dynamics.
In the context of India, tradition of savings, investments, and wealth preservation, with families traditionally relying on trusted advisors for financial guidance and support is evitable. However, with the rapid economic growth, globalization, enhanced regulatory environment, and enhanced accessibility to global financial markets, the wealth management sector in India has experienced a substantial evolution. Investment Advisers Regulation, 2013, and the Financial Advisors Regulations, 2019 have introduced transparency and accountability to the wealth management industry. The shift has transformed the way individuals manage their wealth and created new opportunities and challenges for financial service providers in meeting the evolving needs and expectations of their clients.
Over the past few years, India has witnessed a notable rise in its high-net-worth individual (HNWI) community, propelled by economic expansion, entrepreneurial endeavors, and the expanding middle class. These individuals are in search of expert wealth management services to enhance and safeguard their assets. The demographic landscape of the nation is shifting, with a digitally inclined generation gravitating towards automated wealth management solutions, compelling companies to allocate resources towards technology and digitalization.
India's wealthiest segment was previously dominated by a handful of industrialist families such as the Tatas and Birla's. But in recent years, it has seen the entrance of many new-age entrepreneurs, showbiz, media, and sports personalities. Doctors, lawyers, and even salaried professionals, especially those who may have received stock options, are also represented.
Rising Affluence and Middle Class Affect the Overall Demand
India's middle class is rapidly expanding, accompanied by a significant increase in the number of high-net-worth individuals (HMWIs). As people accumulate more wealth, there is a growing need for professional financial planning and investment management to preserve and grow their assets. The demographic shift results in a larger customer base for wealth management services, as more individuals seek sophisticated financial advice and personalized investment strategies to meet their financial goals. India is set to become a USD 5 trillion economy by 2027-28, nearly three individuals each day join the ultra-high-net-worth (UHNW) club with a net worth of more than USD 30 million as start-ups go to market.
Driving Wealth Creation and Management Opportunities
India's strong economic growth over recent decades has led to higher incomes and greater wealth accumulation among its citizens. Economic prosperity has resulted in increased savings and investment activities. As the economy expands, individuals and businesses have more capital to manage, which boosts the demand for expert financial advice and diversified investment opportunities. Wealth management firms are well-positioned to capitalize on this trend by offering customized financial solutions to a more affluent and investment-savvy population, thereby contributing to the growth of India's wealth management market.
Western Region to Dominate India Wealth Management Market Share
The wealth management market in India is predominantly dominated by the western region of the country. This region is home to a significant concentration of financial institutions, stock exchanges, and corporate headquarters, which collectively fosters a robust environment for wealth management services. The Western region, particularly known for its financial activities has the highest concentration of high-net-worth individuals (HNWIs) in India, driving the demand for sophisticated financial planning and investment management. The strong culture of investing in various financial instruments, such as equities, mutual funds, and alternative investments, further supports the thriving wealth management industry in the region. While the west leads, other regions, such as north and south, are emerging as important markets due to their growing affluent populations and expanding economic activities.
Banks to Dominate the Market
Banks hold a prominent position as leading providers in India wealth management sector, capitalizing on their expansive branch network, reputable brands, and a broad spectrum of financial products. They deliver many wealth management solutions, spanning investment advisory, portfolio management, retirement, and estate planning, and tax advisory services. Moreover, banks typically house specialized divisions staffed with seasoned relationship managers, offering tailored financial guidance to clients. Their solid infrastructure and adherence to regulatory requirements standards underscore their pivotal role in addressing the multifaceted wealth management requirements of both individuals and enterprises throughout India.
Future Market Scenario (FY2025 - FY2032)
The future market scenario for wealth management in India from FY2025 to FY2032 is expected to witness a significant shift towards digital transformation. With the increasing adoption of technology and digital platforms, wealth management firms are likely to leverage advanced tools such as AI, machine learning, and data analytics to offer personalized and efficient services to clients.
The period between FY2025 and FY2032 is anticipated to see a surge in the popularity of robot advisors in India's wealth management market. These automated investment platforms are expected to gain traction among tech-savvy investors looking for cost-effective and convenient wealth management solutions.
Environmental, social, and governance (ESG) investments projected to play a significant role in the future market scenario of wealth management in India. As investors increasingly prioritize sustainability and ethical considerations in their investment decisions, wealth management firms are expected to integrate ESG factors into their investment strategies.
In the forecast years, wealth management firms in India are expected to focus on providing personalized and tailored solutions to meet the diverse needs and preferences of clients. By leveraging data-driven insights and advanced technologies, firms can offer customized investment strategies and financial planning services to cater to individual client goals and objectives.
Key Players Landscape and Outlook
The landscape of the wealth management market in India is characterized by key players who are playing a significant role in shaping the industry. These players include traditional financial institutions, private wealth management firms, asset management companies, and fintech companies offering innovative solutions. The outlook for the wealth management market in India is promising, driven by factors such as increasing wealth creation, growing investor sophistication, and the adoption of digital technologies. As the market continues to evolve, key players are expected to focus on enhancing their service offerings, leveraging technology to provide personalized solutions, and expanding their reach to cater to the diverse needs of clients. Overall, the future of the wealth management market in India looks bright, with opportunities for growth and innovation.
In 2023, Reliance Industries' Jio and BlackRock announced a joint venture to penetrate the India wealth management sector. This collaboration intends to leverage Jio's large customer base with BlackRock's investment knowledge, making financial services more accessible to a wider audience in India.
Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work