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India's Millionaire Households Surge 445% Since 2016

9/20/2025

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Summary

Story summary

India's millionaire households have increased by 445% since 2016, reaching 871,000 in 2025, per the Mercedes-Benz Hurun India Wealth Report.
Maharashtra leads with 178,000 millionaire households, a 194% rise since 2021, while Mumbai has 142,000.
Delhi and Tamil Nadu follow with 80,000 and 72,600 millionaire families, respectively.
Growth factors include a robust stock market, rising gold prices, and luxury consumption.
The report forecasts India's millionaire households could reach 1.7-2 million in the next decade, with 83% of respondents optimistic about future growth.

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Story summary

India's millionaire households have increased by 445% since 2016, reaching 871,000 in 2025, per the Mercedes-Benz Hurun India Wealth Report.
Maharashtra leads with 178,000 millionaire households, a 194% rise since 2021, while Mumbai has 142,000.
Delhi and Tamil Nadu follow with 80,000 and 72,600 millionaire families, respectively.
Growth factors include a robust stock market, rising gold prices, and luxury consumption.
The report forecasts India's millionaire households could reach 1.7-2 million in the next decade, with 83% of respondents optimistic about future growth.