Mumbai Beats Delhi In Creating Millionaire Households: 11% Rise In Indian Millionaires

By Malvika Gurung Last updated Feb 19, 2022

Of the 350 survey participants, about 12% were super-rich, having a net worth of Rs 100 crore, with an average wealth of $6.7 million.

The renowned research and luxury publishing group Hurun India has published another India’s Wealth Report on February 18, 2022, this time depicting a macro research on India’s wealth landscape.

The report also released the second edition of Hurun Indian Luxury Consumer Survey 2021, which provides insights into the Indian millionaire brand preferences, consumption habits and lifestyle trends.

For the research purpose, Hurun India collated data/information from 350 Indian ‘millionaires’ and high net worth individuals, with a personal wealth of about 7 crore, or $1 million.

Of these 350 survey participants, about 12% were super-rich, having a net worth of Rs 100 crore, with an average wealth of $6.7 million.

These 42 individuals were in the average age bracket of 35 years, compared to 34 years last year, while the ratio of men to women participating in the said survey was 8:2.

Besides, one of the major highlights of the Hurun India report was that the count of dollar-millionaire households in the country surged 11% this year than a year-ago.

HNIs preferred Mumbai to be the most preferred millionaire household location in the country, followed by Delhi and Kolkata.

Some more highlights from the Hurun India Wealth Report 2021 and Hurun Luxury Consumer Survey include:

The number of millionaire households in India has increased to 4.58 lakh this year.
The research estimates this number to rise by 30% to 6 lakh by 2026.
Mumbai is home to 20,300 millionaire households, followed by Delhi at 17,400, and Kolkata at 10,500 houses.
The happiness index in HNIs in 2021 has declined. When asked about if they were happy with their personal and professional life, 66% of the participants responded to be happy, compared to 72% in 2020.
Indian millionaires in 2021 made more transactions through e-wallets and UPIs in 2021, instead of NEFT/RTGS, with the former increasing to 36%, compared to 18% in 2020.
Watch collecting continues to remain the preferred hobby of HNIs and 63% of them own at least four watches, with Rolex being the most preferred luxury watch brand, followed by Cartier and Audemars Piguet.