Most millionaire families in these 3 cities of India

Mumbai. According to the Hurun India Wealth Report 2021, the number of dollar-millionaire households in India has increased by 11 percent over the previous year. According to the latest edition of Hurun report, Mumbai has the largest number of millionaire families in the country, followed by Delhi and Kolkata. The report says that Mumbai has the highest number of 20,300 ‘dollar millionaire’ households while Delhi has 17,400 and Kolkata has 10,500 ‘dollar millionaire’ households. The report compiles the list of India’s richest as well as their behavior patterns along with the Luxury Consumer Survey.

These findings of the Hurun report have come at a time when there is growing concern about the growing inequality between the rich and the poor in India. A recent Oxfam report also expressed concern over this disparity. This was revealed in a survey. In the year 2021 affected by the Kovid-19 epidemic, the number of individuals with ‘dollar millionaire’ i.e. personal wealth of more than seven crore rupees in India increased by 11 percent to 4.58 lakh. However, on the basis of interviews with 350 such people in this survey, it was found that the number of people who describe themselves as happy in personal and professional life decreased to 66 percent in 2021, from 72 percent a year ago.

Amid growing calls for higher taxes on the very wealthy, less than a third of those surveyed believe that paying more taxes is a determinant of social responsibility. According to the Hurun report, by the year 2026, the number of ‘dollar millionaires’ in India will increase by 30 percent to reach six lakhs. More than two-thirds of dollar millionaires surveyed said they would prefer to send their children abroad for education, with the US being their first choice.

According to the survey, a quarter of ‘dollar millionaires’ have their favorite car Mercedes-Benz and they change their cars every three years. Hotel Taj of Indian Hotels emerged as the most preferred hospitality brand, while Tanishq is the preferred jewelery brand. Anas Rehman Junaid, Managing Director and Chief Researcher, Hurun India said that the next decade is a great opportunity for luxury brands and service providers to enter India.