Indians get richer as ₹8.5 crore-plus net worth households jump 90% to 8.7 lakh, Mumbai leads: Hurun report

India is witnessing a dramatic rise in affluence, with the number of millionaire households (net worth = Rs 8.5 crore) surging 90% to 8.71 lakh in 2025 from 4.58 lakh in 2021, according to the Mercedes-Benz Hurun India Wealth Report 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.

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The MBHX, a composite measure of Mercedes-Benz sales, new billionaire entrants, Sensex performance, and GDP, has surged nearly 200%, signalling resilient wealth creation despite global uncertainties.

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.

“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