India's Millionaire Households Soar by 90%, Mumbai Leads the Charge
India has seen a significant rise in affluence, with the number of millionaire households (net worth ≥ ₹8.5 crore) jumping 90% to 8.71 lakh in 2025. Mumbai leads with 1.42 lakh wealthy households, followed by Delhi and Bengaluru. The report highlights preferences for digital payments, stocks, real estate, and gold.
Millionaire HouseholdsWealth ReportMumbaiLuxury BrandsEconomic GrowthReal Estate MumbaiSep 18, 2025
The report, unveiled alongside the inaugural Mercedes-Benz Hurun India Index (MBHX) and the Luxury Consumer Survey 2025, highlighted Mumbai as the country’s “Millionaire Capital” with 1.42 lakh wealthy households, followed by Delhi (68,200) and Bengaluru (31,600). Maharashtra leads states with 1.78 lakh millionaire families, backed by a 55% jump in GSDP.
The MBHX, a composite measure of Mercedes-Benz sales, new billionaire entrants, Sensex performance, and GDP, has surged nearly 200%, signaling resilient wealth creation despite global uncertainties. This robust growth reflects the country’s economic resilience and the increasing affluence of its population.
Survey findings show millionaires’ preference for digital payments (UPI apps at 35%), stocks, real estate, and gold as top investments. Rolex, Tanishq, Emirates, and HDFC Bank topped brand choices, indicating a blend of luxury and practical financial decisions among the wealthy.
“India’s wealth creation is real and resilient,” said Anas Rahman Junaid, Founder & Chief Researcher, Hurun India. Santosh Iyer, MD & CEO, Mercedes-Benz India, added that the index reflects the pulse of India’s affluent class and its evolving luxury consumption patterns. The report underscores the growing economic power and changing preferences of India’s wealthy, which is likely to have a significant impact on the luxury and financial sectors.
The rapid growth in the number of millionaire households is a testament to India’s economic progress and the increasing wealth of its citizens. This trend is expected to continue, driven by factors such as economic reforms, technological advancements, and a growing middle class. As more Indians join the ranks of the wealthy, the demand for luxury goods and services is likely to rise, presenting new opportunities for businesses and brands.
Frequently Asked Questions
What is the Mercedes-Benz Hurun India Wealth Report 2025?
The Mercedes-Benz Hurun India Wealth Report 2025 is a comprehensive report that tracks the wealth of Indian households with a net worth of ₹8.5 crore or more. It provides insights into the number of millionaire households, their geographic distribution, and their investment and brand preferences.
Which city leads in the number of millionaire households in India?
Mumbai leads in the number of millionaire households in India, with 1.42 lakh wealthy households as of 2025.
What are the top investment choices for Indian millionaires?
The top investment choices for Indian millionaires include digital payments (UPI apps at 35%), stocks, real estate, and gold.
Which brands are popular among Indian millionaires?
Indian millionaires prefer brands such as Rolex, Tanishq, Emirates, and HDFC Bank.
What does the MBHX measure?
The MBHX (Mercedes-Benz Hurun India Index) is a composite measure that includes Mercedes-Benz sales, new billionaire entrants, Sensex performance, and GDP. It provides a holistic view of wealth creation in India.
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