Millionaire Households in India Surpass 8.7 Lakh: Mumbai, Delhi, Bengaluru Lead
India's millionaire households have surged to 8.71 lakh, with Mumbai, Delhi, and Bengaluru leading the pack. Emerging cities like Gurugram, Surat, and Lucknow are also showing significant growth in affluent households.
Millionaire HouseholdsEconomic GrowthReal EstateFinancial HubsEmerging CitiesReal Estate MumbaiSep 19, 2025
Mumbai, India’s financial hub, leads the pack with 1,42,000 millionaire households, representing 80% of Maharashtra’s total. The city's wealth is driven by its dominance in finance, trade, and corporate sectors. Key institutions such as the Reserve Bank of India (RBI), Bombay Stock Exchange (BSE), National Stock Exchange (NSE), and Securities and Exchange Board of India (SEBI) are headquartered in Mumbai, contributing to its economic prowess.
New Delhi, the capital of India, hosts 68,200 millionaire households, accounting for 85% of the Union Territory’s affluent families. The city’s growth is fueled by strong business activity, a booming real estate market, and a 50% GSDP growth. Delhi’s strategic importance as the political and administrative center of the country further enhances its appeal as a hub for wealth.
Bengaluru, India’s tech hub, ranks third with 31,600 millionaire households, contributing 46% of Karnataka’s total. The city’s wealth is driven by its leadership in the IT sector, a vibrant start-up ecosystem, and a 56% GSDP growth. Bengaluru’s reputation as the Silicon Valley of India continues to attract talent and investment, solidifying its position as a major wealth center.
Ahmedabad, a prominent city in Gujarat, hosts 26,800 millionaire households, making up 39% of the state’s total. The city’s prosperity is driven by strong manufacturing, textiles, and trade sectors, supported by a 50% GSDP growth. Ahmedabad’s strategic location and industrial base make it a key player in India’s economic landscape.
Kolkata, the business hub of Eastern India, houses 26,600 millionaire households, accounting for 53% of West Bengal’s total. The city’s wealth is supported by an established business community and a 45% GSDP growth. Kolkata’s rich history and cultural significance, combined with its economic activities, contribute to its prominence as a wealth center.
Chennai, the capital of Tamil Nadu, is home to 22,800 millionaire households, representing 31% of the state’s total. The city’s affluence is driven by robust automotive, software, and manufacturing sectors. Chennai’s strategic location and industrial strength make it a key economic hub in Southern India.
Pune, a city in Maharashtra, hosts 22,500 millionaire households, accounting for 13% of the state’s total. The city’s wealth is fueled by thriving IT, education, and industrial sectors, establishing Pune as one of India’s fastest-growing urban centers. Pune’s diverse economy and quality of life attract both businesses and individuals, contributing to its growing affluence.
Hyderabad, the capital of Telangana, hosts 19,800 millionaire households, accounting for 38% of the state’s total. The city’s affluence is driven by strong technology, pharmaceutical, and real estate sectors. Hyderabad’s rapid development and strategic focus on high-growth industries have made it a key player in India’s economic growth.
Gurugram, a city in Haryana, registers 10,100 millionaire households, making up 33% of the state’s total. The city’s prosperity is driven by corporate headquarters, IT services, and real estate growth. Gurugram’s strategic location near New Delhi and its modern infrastructure make it an attractive destination for businesses and affluent individuals.
Surat, a city in Gujarat, registers 5,700 millionaire households, accounting for 8% of the state’s total. The city’s prosperity is driven by its diamond cutting, polishing, and textile industries, establishing Surat as a major global trade hub. Surat’s industrial strength and global connections contribute to its growing wealth and economic significance.
The rise in millionaire households across India reflects the country’s economic growth and the increasing prosperity of its urban centers. As more cities join the ranks of wealth hubs, the economic landscape of India continues to evolve, driven by a combination of strong business activity, strategic industries, and robust economic policies.
Frequently Asked Questions
Which cities in India have the most millionaire households?
Mumbai, New Delhi, and Bengaluru lead the list of cities with the most millionaire households in India. Mumbai has 1,42,000 millionaire households, New Delhi has 68,200, and Bengaluru has 31,600.
What factors contribute to the growth of millionaire households in these cities?
The growth of millionaire households is driven by strong business activity, a booming real estate market, robust industries like IT and manufacturing, and significant GSDP growth. Key institutions and strategic locations also play a crucial role.
Which emerging cities are showing significant growth in millionaire households?
Emerging cities like Gurugram, Surat, and Lucknow are showing significant growth in millionaire households. Gurugram has 10,100, Surat has 5,700, and Lucknow is also seeing a rise in affluent households.
What industries are driving the wealth in these cities?
Mumbai is driven by finance and corporate sectors, New Delhi by real estate and business activity, Bengaluru by IT and start-ups, Ahmedabad by manufacturing and textiles, Kolkata by established businesses, Chennai by automotive and software, Pune by IT and education, Hyderabad by technology and pharmaceuticals, Gurugram by IT and real estate, and Surat by diamond cutting and textiles.
How does the growth of millionaire households impact the overall economy of these cities?
The growth of millionaire households contributes to the overall economic growth of these cities by driving investment, creating jobs, and boosting consumer spending. It also attracts more businesses and talent, further fueling economic development.
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