According to a new report by Julius Baer and EY, titled Indian Family Office Playbook: Now, Next and Beyond, family office assets in India stood at roughly Rs 70,000 crore in 2024. That pool of capital is now set to expand 1.5 times over the next three years. This boom is being fueled by expanding wealth, increasingly smart investment strategies, and a shift toward family offices acting as long-term capital providers.
The rising wave of wealth and succession
The underlying driver of this shift is a sheer surge in the number of wealthy individuals across the country. India currently boasts more than 19,000 ultra-high-net-worth individuals, a figure that is expected to cross 25,000 by 2031.
At the same time, the country is staring at one of its largest generational handovers of capital. Between $1.3 trillion and $1.5 trillion in wealth is expected to transfer to the next generation over the coming decade. This massive handover is forcing families to move past informal setups and embrace formal governance, structured succession planning, and professional operating models to avoid conflict and preserve capital.
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Where the money is going
Wealthy families are also changing how they invest. Rather than sticking purely to conventional markets, 40% to 45% of allocations in many family offices are now heading straight into alternative assets. This includes private equity, venture capital, private credit, Alternative Investment Funds, REITs, and InvITs.Instead of sitting on the sidelines as passive investors, these entities are aggressively taking the wheel through direct deals and co-investment opportunities. When it comes to sectors, the focus is squarely on the industries defining the future: artificial intelligence, climate technology, renewable energy, semiconductors, electronics manufacturing, cloud services, and data centres.
Professionalizing the family office
To manage these complex, tech-forward portfolios, modern family offices are overhauling their internal operations. Technology has moved to the core of their daily setup, with families deploying AI-enabled analytics, integrated reporting platforms, cybersecurity, and digital governance tools to sharpen decision-making and boost transparency.
As cross-border investments pick up, complex regulatory frameworks and data privacy requirements are pushing family offices to hire specialized talent and adopt professional governance.
According to Kunal Sumaya, Ad Interim Country Head – India & Market Head – Global NRI at Julius Baer, the ecosystem is at a crucial inflection point driven by explosive wealth creation, primary market activity, and a strong startup ecosystem. He noted that families embracing institutional discipline, technology, and governance right now will not only preserve their legacies, but also act as architects of India’s economic future.