The wealthy in India is growing beyond old business families and corporate tycoons, encompassing start-up founders, investors and high-ranking corporate professionals. “There is a new group that has emerged over the past seven to eight years. These are people who are wealthy for the first time, and have high disposable incomes to buy high-end housing, luxury cars and jewellery,” said Arvind Singhal, chairman and managing director of retail consultancy Technopak. The luxury market in India has also matured enough to start seeing demand from smaller cities. “India is far behind China in most things but in luxury, the gap is smaller. I’d say India is only about 10 years behind China,” said Si
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