They call it the Richie Rich Club and it is about to get even richer. India’s wealthiest will quadruple their net worth between now and 2018, a report says, with hundreds of thousands of new entrepreneurs and inheritors becoming multimillionaires. The survey, based on interviews with 150 ultra-high-net-worth individuals, comes amid signs of returning business confidence in the world’s biggest democracy. Recent years have seen lacklustre growth, rising prices of basic foodstuffs and a weakening currency. But the Bharatiya Janata Party (BJP) won a landslide victory in May 2014 on a pledge to reinvigorate the ailing economy. Despite the slowdown, there are nearly a sixth more Indians worth in excess of $3.75m than in 2013, the report for the Kotak Mahindra Bank notes. “Cities are mushrooming, the middle class population growing, opportunities have increased manyfold and the political environment has improved greatly in recent months,” according to Murali Balaraman, a co-author. Between them, India’s rich hold assets worth a trillion dollars, which is around a fifth of the total wealth in the country. By 2018, that total is likely to reach $4tn, the report says, making three times as many people multimillionaires. Serving the new rich – and the old money – is a booming luxury market. “They really want to show or talk about their wealth in a really subtle way