How Did India's Millionaire Households Surge By 90%?
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Synopsis
A recent report reveals a staggering growth in India's millionaire households, marking a 90% increase to 8.7 lakh by 2025. Mumbai retains its title as the wealth capital, while digital payments and investment preferences indicate evolving trends in wealth management. Explore how high-net-worth families can drive India toward a $5 trillion economy!
Key Takeaways
- India's millionaire households increased by 90% to 8.71 lakh.
- Mumbai remains the leading city for wealthy households.
- Digital payments are favored by millionaire Indians.
- The wealthy segment holds $11.6 trillion in total assets.
- India's GDP grew by 7.8% in Q1 FY26.
New Delhi, Sep 18 (NationPress) The number of millionaire households in India, defined as those with a net worth exceeding Rs 8.5 crore, has increased by an impressive 90 percent to reach 8.71 lakh in 2025, a significant rise from 4.58 lakh in 2021, according to a report released on Thursday.
Leading the pack is Mumbai, dubbed the country’s “millionaire capital,” boasting 1.42 lakh affluent households, while Delhi follows with 68,200 and Bengaluru with 31,600, as per a joint report by Mercedes-Benz and Hurun India.
Maharashtra takes the lead among states with 1.78 lakh millionaire families, driven by a noteworthy 55 percent rise in its Gross State Domestic Product (GSDP).
The MBHX, a composite index measuring Mercedes-Benz sales, new billionaire entries, Sensex performance, and GDP, has seen an increase of nearly 200 percent, indicating a strong trend in wealth generation amidst global uncertainties, the report highlighted.
The study also indicated that millionaire Indians favor digital payment methods, with 35 percent opting for UPI applications, and they primarily invest in stocks, real estate, and gold.
According to a recent survey, high-net-worth (HNW) families in India have the potential to aid the nation in achieving a $5 trillion economy by leveraging their investments for social impact through impact investing and blended financing strategies.
However, the report from wealth advisory firm Waterfield Advisors and Impact Investors Council (IIC) shows that many HNW families operate independently, resulting in low engagement in impact investing. Of the 316 HNW families involved in impact investing in 2021, only 64 remain active in 2024.
Surveys reveal that the wealthiest 1 percent of Indian citizens have allocated 60 percent of their investments into real estate and gold.
This affluent segment holds a staggering $11.6 trillion in total wealth, representing 70 percent of India’s financial assets. India’s overall household wealth is estimated at $19.6 trillion, with this wealthy demographic accounting for 59 percent of that total.
In the first quarter of 2025-26 (Q1 FY26), the country’s economy maintained robust growth, with GDP climbing by 7.8 percent compared to 6.5 percent in the same quarter the previous year.
Point of View
The significant increase in millionaire households reflects India's growing economy and wealth potential. However, the challenge remains for high-net-worth families to engage in impactful investing, ensuring that their wealth contributes positively to society. As we move towards a $5 trillion economy, collaboration and strategic investments will be crucial.
NationPress
20/09/2025
Frequently Asked Questions
What is the net worth threshold for millionaire households in India?
In India, millionaire households are defined as those with a net worth exceeding Rs 8.5 crore.
Which city has the highest number of millionaire households in India?
Mumbai leads as the millionaire capital of India, with 1.42 lakh wealthy households.
What are the preferred investment options for millionaire households?
Millionaire Indians primarily invest in stocks, real estate, and gold.
How has the GDP of India performed recently?
India's GDP grew by 7.8% in the first quarter of 2025-26, showing strong economic momentum.
What is the total wealth held by India's wealthiest segment?
The wealthiest 1% of Indians hold approximately $11.6 trillion, accounting for 70% of the country's financial assets.
