The wedding of the year is here. India is no stranger to opulent weddings, but the preparations and parties for this particular union have transfixed the country. Jaw-dropping guest lists, which have included Silicon Valley billionaires and Bollywood stars, have underscored Mukesh Ambani’s growing influence in the global economy. Asia’s richest family has also shown off its wealth with a display of jewels evoking the long-gone era of maharajahs and Mughal emperors.
According to a report from real estate consultancy Knight Frank, the number of Indians with a net worth of at least $30 million will rise by 50% over the five years to 2028, the biggest increase of any country. And, lower down the economic ladder, by 2030 some 600 million Indians are projected to be middle-class, a segment that will represent over 80% of the country’s spending power.