NEW DELHI– The number of millionaire households in India has surged by 90 percent over the past four years, reaching 8.71 lakh in 2025 compared to 4.58 lakh in 2021, according to a new report released Thursday.
The study, jointly prepared by Mercedes-Benz and Hurun India, defines millionaire households as those with a net worth exceeding Rs 8.5 crore. Mumbai retained its status as the nation’s “millionaire capital,” home to 1.42 lakh wealthy families, followed by Delhi with 68,200 and Bengaluru with 31,600.
Maharashtra topped all states with 1.78 lakh millionaire households, buoyed by a 55 percent jump in its Gross State Domestic Product (GSDP). The report also highlighted the rise of the MBHX — a composite index that tracks Mercedes-Benz sales, new billionaire entrants, Sensex performance, and GDP — which has nearly tripled since 2021, underscoring India’s resilience in wealth creation despite global volatility.
Survey findings revealed that digital payments have become the preferred choice of affluent Indians, with 35 percent using UPI-based apps. Stocks, real estate, and gold remain the top three investment avenues.
India’s wealthy also play a growing role in the nation’s economic ambitions. A separate report by Waterfield Advisors and the Impact Investors Council (IIC) suggested that high-net-worth (HNW) families could accelerate India’s path to a $5 trillion economy by embracing impact investing and blended finance. However, retention remains a challenge: of the 316 HNW families that began impact investing in 2021, only 64 remained active by 2024.
The top 1 percent of India’s richest households hold 60 percent of their wealth in real estate and gold, amounting to $11.6 trillion, or nearly 59 percent of the nation’s total household wealth of $19.6 trillion, the survey said. This elite group also controls 70 percent of India’s financial assets.
The findings come as India’s economy maintains strong momentum. GDP expanded 7.8 percent in the first quarter of FY26, up from 6.5 percent during the same period last year. (Source: IANS)
