Outlook Business Desk
The Mercedes-Benz Hurun India Wealth Report 2025 shows that India’s millionaire households have surged from 1,59,900 in 2017 to 8,71,700 in 2025, reaching record highs. Mumbai, New Delhi, and Bengaluru lead, while emerging cities like Gurugram, Surat and Lucknow are quickly joining the top 10 cities with the most affluent households.
Mumbai, India’s financial hub, leads with 1,42,000 millionaire households, representing 80% of Maharashtra’s total. Driven by the state’s 55% GSDP growth, the city’s wealth stems from its dominance in finance, trade, and corporate sectors, apart from hosting key institutions like the RBI, BSE, NSE, and SEBI.
New Delhi hosts 68,200 millionaire households, accounting for 85% of the Union Territory’s affluent families. The city’s growth is fueled by strong business activity, a booming real estate market, and 50% GSDP growth.
Bengaluru, India’s tech hub, ranks third with 31,600 millionaire households, contributing 46% of Karnataka’s total. The city’s wealth is driven by its IT leadership, vibrant start-up ecosystem, and 56% GSDP growth.
Ahmedabad hosts 26,800 millionaire households, making up 39% of Gujarat’s total. The city’s prosperity is driven by strong manufacturing, textiles, and trade sectors, supported by 50% GSDP growth.
Kolkata houses 26,600 millionaire households, accounting for 53% of West Bengal’s total. As Eastern India’s business hub, the city’s wealth is supported by an established business community and 45% GSDP growth.
Chennai is home to 22,800 millionaire households, representing 31% of Tamil Nadu’s total. The city’s affluence is driven by robust automotive, software, and manufacturing sectors.
Pune hosts 22,500 millionaire households, accounting for 13% of Maharashtra’s total. The city’s wealth is fuelled by thriving IT, education, and industrial sectors, establishing Pune as one of India’s fastest-growing urban centres.
Hyderabad hosts 19,800 millionaire households, accounting for 38% of Telangana’s total. The city’s affluence is driven by strong technology, pharmaceutical, and real estate sectors.
Meanwhile, Gurugram registers 10,100 millionaire households, making up 33% of Haryana’s total. The city’s prosperity is driven by corporate headquarters, IT services, and real estate growth.
Surat registers 5,700 millionaire households, accounting for 8% of Gujarat’s total. The city’s prosperity is driven by its diamond cutting, polishing, and textile industries, establishing Surat as a major global trade hub.