India home to 4.12-lakh millionaire households; Mumbai, Delhi top the list

Malini T
·2-min read
Mumbai skyline Bandra - Worli Sea Link bridge with fishing boats view from Bandra fort. Mumbai, Maharashtra, India
Mumbai skyline Bandra - Worli Sea Link bridge with fishing boats view from Bandra fort. Mumbai, Maharashtra, India

According to the recently released Hurun India Wealth Report, India is home to 4.12-lakh dollar-millionaire households. Mumbai tops the chart followed by New Delhi, with real estate and stock markets continuing to be their preferred choice of investments.

Mumbai along hosts 16,933 millionaire households which contributes about 6.16 per cent to the country’s GDP. New Delhi comes a close second with 16,000 (4.94 per cent contribution to GDP), and Kolkata is in the third position with10,000, according to the report. 

India's IT hub Bengaluru has about 7,582 millionaire households, followed by Chennai with 4,685 wealthy homes. When it comes to states, Maharashtra has 56,000, Uttar Pradesh 36,000, Tamil Nadu has 35,000, Karnataka 33,000 and Gujarat 29,000 rich households, which collectively account for 46 per cent of the total millionaire households.

The report also highlighted brand preferences of millionaires, which includes Mercedes as their luxury car brand, followed by BMW and Jaguar, while Lamborghini is the most preferred luxury sports car followed by Porsche and Aston Martin. Rolex was the most preferred watch and Tanishq topped the charts in jewellery brand, while Taj is the preferred hospitality brand followed by Marriott.

Emirates is the preferred airline to travel in business or first class, followed by Singapore Air and Etihad Airways, while HDFC Bank was the most preferred private lender followed by ICICI Bank. 

However, the happiness index of the country has slipped to 7.2/10, down from 8.5 last year.

Source: The Hindu Business Line, Times of India, Agencies

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