8 months ago
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Mumbai, Delhi and Bengaluru consolidate their presumption arsenic wealthiness capitals arsenic bash cities specified arsenic Hyderabad and Pune are emerging wealthiness hubs, according to the Mercedes-Benz Hurun India Wealth Report 2025, released connected Thursday (September 19, 2025). Ahmedabad and Chennai are caller entrants arsenic emerging wealthiness hubs arsenic India is present location to 8,71,700 dollar-millionaire households (0.31% of each households), with a nett worthy adjacent to oregon much than ₹8.5 crore each.
At 1,78,600, Maharashtra tops the organisation of millionaire households, among States and Union Territories. National superior Delhi sits beneath astatine No. 2, with astir a lakh households little astatine 79,800. Tamil Nadu (72,600), Karnataka (68,800) and Gujarat (68,300) marque up the apical five.
The New-Gen affluent
India added astir 80,000 caller millionaires successful a year. The fig of millionaire households accrued by 10% from past year’s 7,90,000 dollar-millionaire households and by 90% from 4,58,000 (about 0.17% of each households) successful 2021, successful the mediate of the COVID-19 pandemic.
This marks a dependable maturation successful the fig of affluent families, which successful crook reflects India’s expanding economy, banal marketplace boom, and entrepreneurial ecosystem. The study suggests that India is transitioning from being a state of wealthiness accumulation to 1 of wealth look and experience. With rising disposable incomes, India’s affluent is reshaping consumption, luxury, and philanthropy portion driving planetary designation of the country’s economical rise.
More than 60% affluent complaint themselves 8-plus connected a 10-point happiness scale. Hobbies of the ultra-rich see question (45%), followed by speechmaking and cooking, portion yoga (27%) is the astir preferred fittingness activity. Social media (36%) has overtaken accepted media arsenic the starring quality root for the wealthy.
A important information of caller wealthiness is tied to start-ups, unicorns and tech-driven businesses. The bulk of India’s millionaires are first-generation entrepreneurs successful sectors similar IT, fiscal services, manufacturing, and real-estate. The New-Gen of affluent Indians are drawn towards philanthropy, interaction investing and sustainability.
At ₹3,680 crore, Shiv Nadar and household are the apical donors successful the acquisition sector, followed by ₹626 crore by Mukesh Ambani and household towards healthcare.
Unlike before, younger HNIs worth planetary experiences implicit plus accumulation. While 27% quoted ₹50 crore arsenic “enough” for fiscal freedom, 25% cited ₹10 crore and 20% acceptable the benchmark astatine ₹200 crore.
What’s India’s affluent spending on?
Stocks, real-estate and golden stay apical investments portion UPI dominates integer payments.
The Mercedes-Benz Hurun India Luxury Consumer Survey 2025, sampling 150 Indian millionaires, highlights manner choices and marque affinities. Luxury cars (SUVs and EVs; Mercedes-Benz, BMW and Audi) remained apical aspirations, followed by real-estate (luxury farmhouses and vacation villas), planetary experiential question (to Europe and Southeast Asia), and manner & manner (high-end watches specified arsenic Rolex, Gucci and Louis Vuitton; apparel, jewellery) and exertion & investments (Crypto art).
In jewellery, 75% similar earthy diamonds, with Tanishq starring successful the home market, Tiffany & Co. globally, and CaratLane among online platforms. Watches are the astir talented point for men (43%), jewellery for women (50%), toys for children (51%) and wellness products for the elderly.
Over fractional of India’s millionaires ain much than 1 car, with galore upgrading wrong 3 to six years. Around 40% support their car for much than six years.
Spending behaviour bespeak mean depletion with 60% study yearly household consumptions nether Rs 1 crore. Top spends see tourism astatine 32%, followed by acquisition (27%) and amusement (22%).
The study forecasts estimation that successful the adjacent 5 years, determination volition beryllium double-digit maturation successful affluent households and that volition propulsion India person to being among the apical planetary wealth-creation hubs.
