Mumbai: Mumbai has once again cemented its status as India’s financial powerhouse, emerging as the country’s ‘Millionaire Capital’ with 1.42 lakh millionaire households, according to the Mercedes-Benz Hurun India Wealth Report 2025.
The report reveals that 0.31% of Indian households — 8.71 lakh families — now have a net worth exceeding ₹8.5 crore (USD 1 million). New Delhi follows Mumbai with 68,200 millionaire households, while Bengaluru stands third with 31,600.
At the state level, Maharashtra leads with 1,78,600 millionaire households, underscoring the state’s dominance in finance, business, and industry.
Alongside the wealth report, the Mercedes-Benz Hurun India Luxury Consumer Survey 2025 offered insights into the preferences of 150 ultra-wealthy Indians:
• Alcohol Consumption: 34% reported that they do not drink alcohol. Among those who do, whiskey is the preferred choice (32%), followed by red wine (11%) and champagne (9%).
• Payment Preferences: UPI has become the most popular payment mode among India’s rich, with 35% using it over cash (18%), RTGS/NEFT (16%), and cards (14%).
The findings highlight the growing adoption of digital payments among India’s wealthy, as well as Mumbai’s continued status as the epicenter of the country’s concentrated wealth.
