Hurun Report: Number of households with wealth exceeding Rs 8.5 crore grows 90% in India, Mumbai leads

The report calls Mumbai the “millionaire capital” of the country. Mumbai has 1.42 lakh wealthy households, far ahead of Delhi (68,200) and Bengaluru (31,600). Maharashtra has a total of 1.78 lakh millionaire households, the highest in the country.

New Delhi: India's wealth-related prosperity is rapidly increasing. According to the Mercedes-Benz Hurun India Wealth Report 2025, the number of households with a net worth of ₹8.5 crore or more is projected to increase from 4.58 lakh in 2021 to 8.71 lakh in 2025, representing an increase of nearly 90%.

Mumbai Becomes the Millionaire Capital

The report calls Mumbai the "millionaire capital" of the country. Mumbai has 1.42 lakh wealthy households, far ahead of Delhi (68,200) and Bengaluru (31,600). Maharashtra has a total of 1.78 lakh millionaire households, the highest in the country. Maharashtra contributes 55% to the GDP, reflecting its economic strength.

200% Growth in MBHX Index

According to the Mercedes-Benz Hurun India Index (MBHX) and Luxury Consumer Survey 2025, the MBHX index has grown by nearly 200%. This index is a composite indicator of the number of new billionaires, the performance of the Sensex, and GDP. Despite global economic uncertainties, the wealth of the country's millionaires has increased.

Key Investment Choices and Favorite Brands

According to the report, millionaires choose digital payments (especially UPI apps, 35%), the stock market, real estate, and gold as their top investment options. Their favorite brands include Rolex, Tanishq, Emirates, and HDFC Bank, which symbolize luxury and reliability.

Expert Opinion

Anas Rahman Junaid, founder and chief researcher of Hurun India, said that India's wealth creation is real and resilient. He also pointed out that India's prosperity model is stable and robust. Santosh Iyer, MD and CEO, Mercedes-Benz India, said that this index provides an accurate glimpse of the economic status and consumption patterns of India's affluent class.

New Dimensions of Economic Prosperity

The rapid creation of wealth and wealth in India is a sign of the country's economic progress. The increase in the number of millionaires will not only boost investment, but also boost the country's thriving consumer and luxury goods market. This report opens up new dimensions of India's economic strength and prosperity, strengthening the country's position globally.

Thus, the Hurun Report 2025 presents a brighter picture of wealth and economic prosperity in India, with Mumbai leading the way.