India's affluent families are growing swiftly, showcasing the nation's increasing economic strength and desire for luxury. The Mercedes-Benz Hurun India Wealth Report 2025 projects 8.71 lakh millionaire households, representing a 90% increase since 2021, currently comprising 0.31% of total households. Maharashtra tops the list with 1.78 lakh millionaire households, while Mumbai alone has 1.42 lakh, solidifying its position as the country's Millionaire Capital. Delhi has 79,800 households, and Tamil Nadu, Karnataka, and Gujarat complete the top five. Together, the leading 10 states comprise 79% of these wealthy residences, highlighting the concentration of wealth in prominent economic hubs. In terms of cities, Mumbai, Delhi, and Bengaluru lead, while Ahmedabad, Hyderabad, and Pune rise as new centers of activity. From 2017 to 2025, the number of millionaire households increased by 445%. The investment choices and luxury tastes of millionaires in India indicate important market trends. Stocks, real estate, and gold continue to be leading asset classes, with 51% anticipating an increase in property values and gold nearly doubling since 2021 to roughly Rs. $94,000 (US$ 1,066) for every 10 grams. Digital payments have taken root, with 35% preferring UPI for high-end purchases. HDFC Bank is the top choice for domestic private banking, whereas Citibank dominates on a global scale. Rolex, Tanishq, Taj Hotels, and Gucci/Louis Vuitton lead the rankings in watches, jewelry, hospitality, and accessories. Even with high hopes, 83% express confidence in India's economy for the upcoming three years, yet investment strategies remain careful, as just 17% consider themselves risk-takers. In the future, India's millionaire households may increase to 1.7-2 million by 2035, reducing the disparity with China's 51 lakh wealthy families and enhancing India's global economic power
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