India’s top 10 states with millionaire families in 2025: Where does your city stand?

This marks a sharp jump from 159,900 in 2017 and 458,000 in 2021 — an increase of nearly 90 per cent over four years.

The number of millionaire families in India has increased over the years.

Millionaire families now represent about 0.31 per cent of India’s population. However, the report shows that wealth creation remains heavily concentrated.

Maharashtra has consolidated its position as the country’s richest state, home to 178,600 millionaire families — a 194 per cent rise since 2021.

Mumbai alone accounts for 142,000 of these, cementing its reputation as India’s “Millionaire Capital.”

Delhi, Tamil Nadu and Karnataka follow, with New Delhi ranked #2, Bengaluru #3, and Chennai #6 among the top urban wealth centres in 2025.

Overall, the top 10 states in India account for more than 79 per cent of the millionaire families, with growth in this demographic being primarily driven by increases in GSDP and a trend toward business formalisation, particularly in the technology, finance, and industrial sectors.

Top 10 Indian states with the most millionaire families in 2025