India is rapidly climbing the charts, with a sharp uptick in millionaire households. According to the Mercedes-Benz Hurun India Wealth Report 2025, cited by a news portal, India is expected to boast 8,71,700 millionaire families by 2025, each worth at least Rs 8.5 crore (US$1 million).
This marks a jump from 1,59,900 in 2017 and 4,58,000 in 2021, an increase of nearly 90 per cent over four years.
The number of millionaire families in India has increased over the years. Currently, they comprise about 0.31% of the country’s population. However, the report makes it clear: wealth creation is heavily concentrated in certain regions.
Leading the charge is Maharashtra, now firmly established as India’s wealth capital. The state is home to a staggering 178,600 millionaire households, marking a 194% rise since 2021. Mumbai, alone accounts for 142,000 of these, cementing its reputation as the nation’s undisputed Millionaire Capital.
Across India, other states are also clocking impressive numbers. Delhi ranks second with 79,800 millionaire families, followed by Tamil Nadu with 72,600. Karnataka comes next with 68,800 households, just edging out Gujarat, which has 68,300.
Uttar Pradesh has 57,700 millionaire families. Telangana isn’t far behind with 51,700. West Bengal is at 50,400. Rajasthan is at 33,100. Haryana has 30,500 millionaire households.
In the cities, Mumbai holds a comfortable lead which is expected. New Delhi also makes a strong showing with 68,200 millionaire households. Bengaluru follows with 31,600.
Ahmedabad has 26,800 millionaire families. Kolkata is not far behind at 26,600. Chennai and Pune are neck-and-neck, with 22,800 and 22,500 households respectively.
Hyderabad logs 19,800 while Gurugram features 10,100 millionaire families. Surat has 5,700 such households.
Overall, the top 10 states in India account for over 79% of the country’s millionaire families.
This concentration is driven largely by growth in GSDP and a push towards business formalisation, especially in sectors like technology, finance, and industry.
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