4.12 lakh millionaires in India, most millionaire families, live in Mumbai

New Delhi, 17 March 2021: Despite the Corona crisis, the number of millionaires in India may surprise you. According to the  Harun India Wealth Report, there are 4.12 lakh millionaires in India, and Mumbai has the highest number of millionaires in the country. Simultaneously, Delhi is the second largest capital city in terms of the number of millionaires.

Investment in stocks and real estate is preferred

According to the report, Indian millionaires prefer to invest in shares and real estate. However, both of these are considered risky areas for investment. According to the report, these millionaires in India have assets worth at least seven crore rupees, and their average assets are one thousand crore rupees.

The highest number in Maharashtra-UP

According to the report, 70.3 percent of the country’s total millionaires live in the top 10 states. Among cities, Mumbai and Delhi are ranked first and second. At the same time, Maharashtra ranks first with 56 thousand crores millionaires in the state. Uttar Pradesh (UP) is in second place with 36 thousand millionaires. Among the states, Tamil Nadu is third with 35 thousand, Karnataka is fourth with 33 thousand, and Gujarat is fifth with 29 thousand millionaires.

How much millionaires contribute to GDP?

According to the report, 16933 millionaire families in Mumbai contribute 6.16 percent of the country’s gross domestic product (GDP). After this, there are 16 thousand families in Delhi, contributing 4.94 percent of the total GDP. After this, Kolkata is in third place with 10 thousand millionaire families. Anas Rahman Junaid, MD, Haroon, India, says that the luxury brand market has increased due to India’s millionaires.

Millionaires are kind to these brands

According to the report, Mercedes is the first choice for India’s millionaires in luxury cars, followed by BMW and Jaguar. On the other hand, in sports cars, Lamborghini is the first choice, followed by Porsche and Austen Mortin. Rolex is their first choice in terms of watches. In the case of jewelry, Tanishq is his favorite luxury brand. Whereas in the case of hotels, Taj is the first and Marriott is the second choice.

Transaction Preference from Private Banks

According to Harun’s report, HDFC Bank of India is at the forefront in wooing these millionaires, followed by ICICI Bank. Simultaneously, the Life Insurance Corporation of India (LIC) is their first choice among the life insurance companies. Emirates Airlines are their first choice in terms of airlines. Singapore Airlines is at second and Etihad at third place.