India Sees Rapid Surge in Wealth: Over 8 Lakh Crorepati Families Now in the Country

India is witnessing a rapid increase in the number of wealthy households, with the count of millionaire families nearly doubling since 2021. According to the Mercedes-Benz Hurun India Wealth Report 2025, households with a net worth of ₹8.5 crore or more have grown from 4.58 lakh to 8.71 lakh.

The percentage of millionaire households has risen to 0.31% of all households, up from 0.17% in 2021. This surge is largely driven by stock market gains, the rise of new businesses, and the economic growth of various states. Between 2017 and 2025, the number of wealthy households increased by 445%, reflecting India’s expanding economic strength.

Maharashtra Leads the Millionaire Count
Maharashtra tops the list with over 1.78 lakh families holding assets of at least ₹8.5 crore, with Mumbai alone hosting 1.42 lakh millionaire families. Delhi follows with 79,800 and Tamil Nadu with 72,600 millionaire households.

Emerging Millionaire Hubs
Cities like Bengaluru (31,600 millionaire families), Ahmedabad, Pune, Hyderabad, and Gurugram are rapidly becoming new economic centers, reflecting the rise of prosperity beyond traditional metros.

Future Outlook
Anas Rahman Junaid, founder of Hurun India, notes that while India’s millionaire population is still smaller than in China or the U.S., the growth is remarkable. The report predicts that the number of millionaire households could reach 1.7 to 2 million within the next decade. Most of this growth is expected among mid-tier millionaires, with ultra-high-net-worth households (assets above ₹100 crore) remaining limited at around 5%, and billionaires making up only 0.01%.