Mumbai Tops As India's 'Millionaire Capital' With 1.42 Lakh Families: Report

Mumbai emerges as India's 'Millionaire Capital' with 1.42 lakh wealthy households.

Mumbai has secured its position as India's 'Millionaire Capital' with 1.42 lakh millionaire households.

Mumbai:

A surprising revelation from a survey released Thursday indicates that more than one-third of wealthy Indians abstain from alcohol consumption.

The comprehensive study, which surveyed 150 individuals possessing a net worth exceeding Rs 8.5 crore each, found that 34 percent of participants reported consuming no alcohol whatsoever.

Among those who do imbibe, whiskey proved particularly popular, with 32 percent naming it their preferred beverage, while red wine followed at 11 percent and champagne at 9 percent.

The Mercedes-Benz Hurun India Luxury Consumer Survey 2025 also highlighted that the Unified Payments Interface (UPI) has become the preferred payment method among India's affluent, significantly outpacing traditional options like cash and cards.

According to the survey, 35 percent of respondents identified UPI as their payment method of choice, with cash trailing at 18 percent, followed by RTGS/NEFT transfers at 16 percent, and cards at 14 percent.

The simultaneously published Mercedes-Benz Hurun India Wealth Report 2025 revealed that approximately 0.31 percent of Indian households—equating to 8.71 lakh families—possess a net worth surpassing Rs 8.5 crore or USD 1 million.

Mumbai leads as the country's 'Millionaire Capital' with 1.42 lakh millionaire households, with New Delhi following at 68,200 and Bengaluru at 31,600.

At the state level, Maharashtra dominates with 1,78,600 millionaire households, reflecting significant wealth concentration in finance and industrial sectors.