Bengaluru, Nov 03rd: Kotak Private Banking today unveiled the Kotak Private Luxury Index (KPLI), a first-of-a-kind indicator, of price movements across 12 categories of luxury products and experiences. Kotak Private Banking has commissioned Ernst & Young LLP (EY) for support in publishing the index. The index offers a data-backed view into how India’s ultra-high-net-worth individuals (UHNIs) are reshaping the meaning of luxury.
As India’s luxury market heads toward an estimated $85 billion by 2030, the KPLI reveals a clear shift: from ownership to experience, and from material to mindful living. For investors, brands, and advisors, the index is more than a price tracker—it is a cultural barometer.
Launching the report, Oisharya Das, CEO, Kotak Private Banking said, “At Kotak Private, we believe luxury is not merely about possession, but about personalization, exclusivity, craftsmanship, and heritage for India’s discerning ultra-HNI community. Leveraging our legacy of financial expertise and deep insights into wealth dynamics, the inaugural edition of this report provides a comprehensive benchmark for luxury across multiple asset and lifestyle categories. Through the Luxury Index, we offer a valuable indicator for investors, brands and advisors to understand trends and cultural shifts shaping this vibrant ecosystem. We hope it serves as a compass for those who invest in luxury with purpose, reflecting Kotak’s commitment to helping clients grow wealth and enrich their lives.”
Index Performance: Key Insights
- 6.7% Annual Growth Since 2022 – The KPLI rose to 122 in 2025, marking a 22% increase over three years. Categories such as luxury real estate and designer handbags outperformed benchmark equity indices in 2025.
- Wellness as the New Status Symbol – Health retreats like Amanbagh and Ananda have pushed the wellness category up 14.3% annual increase since 2022, signaling that longevity and mindfulness now define modern affluence.
- Experiences Outpace Ownership – From Antarctic cruises to Michelin-starred dining, the Exclusive Experiences Index has soared 11.6% annual increase since 2022, reflecting a hunger for stories, not just assets.
- Luxury Real Estate Reinforces Identity – Branded, tech-enabled residences have climbed 10.8% annual increase since 2022, cementing real estate as the ultimate wealth marker.
- Fashion Holds, Watches and Wines Correct – Designer handbags rose 10.2% annual increase since 2022, while luxury watches and fine wines saw corrections—proof that even indulgence has cycles.
- Education as Legacy – Elite university tuition is up 8.4% annual increase since 2022, making education both a luxury and a statement of legacy.