Maharashtra has emerged as the leading hub of wealth creation in India, with 1,78,600 millionaire households, marking a 194 per cent increase since 2021, according to the Mercedes-Benz Hurun India Wealth Report 2025. The state’s growth is strongly supported by a 55 per cent surge in its Gross State Domestic Product (GSDP) since 2020-21, with Mumbai alone contributing 1,42,000 households, earning it the title of “Millionaire Capital” of India.India now has 8,71,700 millionaire households, defined as those with a net worth of INR 8.5 crore or more, a 90 per cent rise compared to 2021. Despite this nationwide surge, wealth remains concentrated, with the top 10 states accounting for over 79 per cent of all millionaire households.Delhi ranks second with 79,800 households, followed by Tamil Nadu at 72,600, Karnataka at 68,800, and Gujarat at 68,300. Other top states include Uttar Pradesh (57,700), Telangana (51,700), West Bengal (50,400), Rajasthan (33,100), and Haryana (30,500).Among cities, Mumbai tops the list with 1,42,000 millionaire households, followed by New Delhi (68,200) and Bengaluru (31,600), highlighting metropolitan regions as key engines of wealth creation.As per news agency India, Anas Rahman Junaid, founder & chief researcher at Hurun India, said, “In less than a decade, the number of Indian households worth over $1 million has skyrocketed by 445 per cent, underlining how wealth creation is reaching a broader base of our society. Yet only about 5 per cent of 2017’s millionaires have become ultra-high-net-worth individuals, and a mere 0.01 per cent made it to billionaire status. This shows that while affluence is spreading, the climb to the very top remains steep”.The report also indicates that while wealth is growing nationwide, it remains concentrated in a few economic hubs.
