India's millionaire households with net worth over Rs 8.5 crore surged 90 per cent in number to 8.71 lakh in 2025, up from 4.58 lakh in 2021, a report said on Thursday.
Mumbai is the country’s “millionaire capital” with 1.42 lakh wealthy households, followed by Delhi with 68,200 and Bengaluru with 31,600, said a report jointly authored by Mercedes-Benz and Hurun India.
Maharashtra leads states with 1.78 lakh millionaire families, backed by a 55 per cent jump in Gross State Domestic Product (GSDP).
The MBHX, a composite measure of Mercedes-Benz sales, new billionaire entrants, Sensex performance, and GDP, has surged nearly 200 per cent, signalling resilient wealth creation despite global uncertainties, the report noted.
The survey revealed that millionaire Indians prefer digital payments, with 35 per cent using UPI apps, and view stocks, real estate, and gold as their main investment options.
A recent survey showed that India's high-net-worth (HNW) families can help the country become a $5 trillion economy by utilising their capital for social impact using impact investing and blended financing techniques.
Many HNW families continue to operate in silos and exhibit low retention in impact investing, the report from wealth advisory firm Waterfield Advisors and NPO organisation Impact Investors Council (IIC) said.
Of the 316 HNW families who entered impact investing in 2021, just 64 remain active in 2024, the report said. Recent surveys showed that the top 1 per cent of India's wealthiest citizens have parked 60 per cent of their money in real estate and gold.
This segment holds $11.6 trillion in total wealth and 70 per cent of India's financial assets, the report said. India’s total household wealth is estimated at $19.6 trillion, out of which $11.6 trillion, or 59 per cent, is held by this wealthy segment of the population.
The country’s economy continued its strong momentum in the first quarter of 2025-26 (Q1 FY26), with GDP growing 7.8 per cent compared to 6.5 per cent in the same period last year.
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