New Delhi: India’s wealthy households are recording a dramatic rise as the people’s appetite for luxury, investment, and global influence is growing across the country. According to the Mercedes-Benz Hurun India Wealth Report the number of millionaire households recorded a huge surge during the 2021 to 2025 period.
As per the data mentioned in the report, India is now home to 8.71 lakh millionaire households – from 4.58 lakh in 2021 to 8.71 lakh in 2025. These families represent 0.31 per cent of Indian households.
- Maharashtra has secured the top rank with 1.78 lakh millionaire households, out of which 1.42 lakh are in Mumbai. The state recorded almost a 100 percent jump since 2021.
- Delhi is ranked second with 79,800 millionnaire households.
- Tamil Nadu ranked third with 72,600 millionnaire households.
- Karnataka has 68,800.
- Gujarat is at the fifth spot with 68,300 millionnaire households.
Major cities, including Mumbai, Delhi, and Bengaluru continue to dominate the millionaire households category. Smaller cities like Pune, Hyderabad, and Ahmedabad are fast catching up.
The Mercedes-Benz Hurun Luxury Consumer Survey 2025 also gives the reason behind the surge in the spending patterns and aspirations. The report mentions that the country recorded a 445 per cent increase in Rs 8.5 crore-plus households while the most preferred investments remained stocks, real estate, and gold. It also attributed the change in spending patterns to increasing entrepreneurs and rapid state-level economic expansion.
The Mercedes-Benz Hurun Luxury Consumer Survey 2025 found that HDFC Bank is the most preferred private bank and Citibank topped international choices. Amongst the luxury brands, people prefer Rolex for watches, Tanishq for jewellery, Taj Hotels in hospitality, and Gucci/Louis Vuitton in accessories.
“I am struck by the extraordinary upward mobility we’re witnessing in India. In less than a decade, the number of Indian households worth over $1 million has skyrocketed by 445%: a surge that underlines how wealth creation is reaching a broader base of our society. This democratisation of prosperity speaks to the resilience of our economy, with opportunity spreading to millions of new wealth creators,” said Anas Rahman Junaid, Founder and Chief Researcher, Hurun India.