New Delhi, September 19 (HS): India is witnessing a rapid surge in wealthy households, with a new millionaire family emerging every 30 minutes, according to the Mercedes-Benz Hurun India Wealth Report 2025. The report highlights India’s growing prominence as a global wealth hub, even as worldwide economic turbulence challenges high-net-worth growth elsewhere.

As per the findings, India is currently home to around 8.71 lakh millionaire households with a net worth of $1 million or more. This marks nearly a 90 percent jump in just four years. The number of millionaire families rose from 4.58 lakh in 2021 to 5.38 lakh in 2022, further increasing to 6.31 lakh in 2023, and 7.41 lakh in 2024 before reaching 8.71 lakh in 2025.

Mumbai and Delhi top the list of Indian cities with the largest concentration of wealthy households. Mumbai, the country’s financial capital, is home to 1.42 lakh millionaire families, while Maharashtra as a whole accounts for 1,78,600 such households. Delhi ranks second with 68,200 millionaire families, followed by Bengaluru (31,600), Kolkata (26,600), and Chennai (22,800). Pune houses 22,500 such households, Hyderabad 19,800, and Surat 5,700.

The report underlines that India’s steady rise in high-net-worth and ultra-high-net-worth individuals underscores its strong economic momentum, wealth creation in emerging industries, and a robust investment environment.

Hindusthan Samachar / Jun Sarkar