As per a study by Wealth-X, by 2018 India will have 4.37 lakh millionaires, with the number doubling by 2023. Over the last year, the number of millionaires in dollar terms increased by 27% from 1,96,000 to 2,50,000. The study credited a "renewed economic optimism and performance" and a new "reformist government" for the sharp growth in India's ultra-rich population.