The second edition of the Hurun India Wealth Report 2021 and Hurun Indian Luxury Consumer Survey 2021 were released on February 18.
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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.
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The maximum number of dollar-millionaire households is in Mumbai. The financial capital of India houses 20,300 such households.
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Second on the list is Delhi with 17,400 millionaire households.
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Kolkata has 10,500 millionaire households, the Hurun India Wealth Report 2021 showed.
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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.
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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.
