The recent Mercedes-Benz Hurun India Wealth Report 2025 reveals that Maharashtra has emerged as the leading hub of wealth creation in India, with 1,78,600 millionaire households, marking a 194 percent increase since 2021.
Mercedes-Benz Hurun India Wealth Report 2025 Launched
When it comes to Maharashtra, this state’s growth is strongly supported by a 55 percent surge in its Gross State Domestic Product (GSDP) since 2020-21 reportedly.
Out of this, only Mumbai alone contributes 1,42,000 households, for gaining the title of “Millionaire Capital” of India.
When it comes to the whole country, it has 8,71,700 millionaire households, defined as those with a net worth of INR 8.5 crore or more, a 90 per cent rise compared to 2021.
Although there is a nationwide surge, but wealth remains concentrated, with the top 10 states accounting for over 79 per cent of all millionaire households.
The second place is gained by the Delhi with 79,800 households, followed by Tamil Nadu at 72,600, Karnataka at 68,800, and Gujarat at 68,300.
The other top states include Uttar Pradesh (57,700), Telangana (51,700), West Bengal (50,400), Rajasthan (33,100), and Haryana (30,500).
Mumbai Tops The List In Millionaire Households
If we look into city wise, Mumbai tops the list with 1,42,000 millionaire households, followed by New Delhi (68,200) and Bengaluru (31,600).
This highlights the metropolitan regions are the key engines of wealth creation in the country.
“In less than a decade, the number of Indian households worth over $1 million has skyrocketed by 445 per cent, underlining how wealth creation is reaching a broader base of our society. Yet only about 5 per cent of 2017’s millionaires have become ultra-high-net-worth individuals, and a mere 0.01 per cent made it to billionaire status. This shows that while affluence is spreading, the climb to the very top remains steep,” said Anas Rahman Junaid, the founder & chief researcher at Hurun India.
Moreover this report indicates that wealth is growing nationwide pertaining to the fact that it remains concentrated in a few economic hubs.
