The second edition of the Hurun India Wealth Report 2021 and Hurun Indian Luxury Consumer Survey 2021 were released on February 18.
The wealth report showed that the number of dollar-millionaire households in India rose 11 percent to 4,58,000 as compared to 2020. The net worth of these households is at least Rs 7 crore.
The maximum number of dollar-millionaire households is in Mumbai. The financial capital of India houses 20,300 such households.
Second on the list is Delhi with 17,400 millionaire households.
Kolkata has 10,500 millionaire households, the Hurun India Wealth Report 2021 showed.
The Hurun report estimates that the number of dollar-millionaire households in India is likely to increase by 30% over the next five years. The number of millionaire households is expected to reach 6,00,000 by 2026.
Hurun has also done a luxury consumer survey, which reveals the brand preferences of millionaires. The survey found that watch-collection is the preferred hobby of high-net-worth individuals. Of the individuals surveyed by Hurun, 63 percent own at least four watches.
One-fourth of the survey’s respondents change their cars in less than three years. Their most-preferred car brands are Mercedes-Benz, Rolls-Royce and Range Rover. Lamborghini is the most preferred luxury sports car brand.
The Hurun survey found that one-third high-net-worth individuals followed a risk-averse investment philosophy during the pandemic.
Happiness index among millionaires has fallen, the survey shows. “66% of the survey respondents indicated that they are happy with both personal and professional life, compared to 72% in 2020,” Hurun said.
