The global luxury industry has nine significant segments, with luxury cars, luxury hospitality, and personal luxury goods accounting for over 80 per cent of the market. Statista reports that India’s largest segment is luxury watches and jewellery, which will have a volume of $11.65 billion this year.

India accounts for 3.7 per cent of the global population of affluent individuals, ranking fourth behind the United States (905,413 HNWIs), China (471,634), and Japan (122,119). As India’s ultra-high-net-worth population continues to expand, new opportunities will emerge for global luxury brands to establish a stronger presence in the Indian market. Sectors such as superyachts, in particular, remain largely untapped and hold significant potential for growth.