India’s asset and wealth management (AWM) industry is projected to grow to $1.7 trillion in assets under management (AuM) by 2030, nearly doubling from $0.9 trillion in 2024, according to a report released by PwC on Thursday.
The report estimates the industry’s expansion at a compound annual growth rate (CAGR) of 11.6 per cent, driven by rising institutional capital and increasing retail participation in financial markets.
PwC said India’s growth outpaces the broader Asia-Pacific region, where assets under management are expected to rise from $23.2 trillion in 2024 to $34.5 trillion by 2030, representing a CAGR of 6.8 per cent.
The report noted that India’s expanding public digital infrastructure, continued regulatory reforms and the emergence of GIFT City as a global financial hub are helping deepen the country’s capital base.
“India’s path to $1.7 trillion in AWM assets by 2030 reflects a deepening domestic capital base, wider participation in formal financial markets, and the gradual channelling of household savings into long-term investment,” said Vivek Prasad, Chief Commercial Officer and Financial Services Leader at PwC India.
According to the report, India now has bank account penetration of around 78–80 per cent, while the Unified Payments Interface (UPI) processes nearly $2.5 trillion in transactions annually. The country also has around 1.4 billion Aadhaar digital IDs in circulation.
The report said the rise of discount brokers has contributed to an increase in demat account holders to 192 million, while monthly systematic investment plan (SIP) inflows exceeding $3 billion translate into roughly $36 billion in annual equity investments.
It added that more than 40 per cent of new SIP registrations now originate from Tier-2, Tier-3 and Tier-4 cities, indicating that retail participation is expanding beyond metropolitan centres, although investment sizes and product complexity remain relatively modest.
On the institutional side, the report highlighted the growing role of long-term domestic investors, including the Employees’ Provident Fund Organisation (EPFO), which manages assets worth around $280 billion, the National Pension System (NPS), whose regulator aims to grow assets to $1 trillion by 2030, and insurance funds with assets of approximately $650 billion. These institutions are gradually increasing allocations to equities, alternative investments and global assets, it added.
-IANS
