Hurun Wealth Report : 6.33 lakh ‘New Middle Class’ households

New Delhi : According to the Hurun India Wealth Report, 6,33,000 new middle-class households with an average savings of Rs 20-lakh per annum have emerged in the country. These households are those who have major allocation towards physical assets such as primary residential property and automobiles. The report added that there are 3000 households in India with a networth of Rs 1000 crore.

Apart from this, Hurun surveyed 449 Indian millionaires, individuals with a personal wealth of Rs 7 crore, of which 62 were super-rich (Rs 100 crore wealth).

A Hurun India Wealth Report 2020 released on Tuesday revealed that the overall happiness index among India’s high net-worth individuals (HNI) fell to 7.23 points on 10 as compared to 8.5 points in 2019.

Mumbai remained India’s richest city closely followed by Delhi. In Mumbai alone, there are 16,933 millionaire households, which contributes about 6.16 percent to the country’s GDP. According to the report, New Delhi remains in close pursuit with 16,000 (4.94 percent contribution to GDP), followed by 10,000 in Kolkata.

In Bengaluru, there are about 7,582 millionaire households, followed by Chennai with 4,685 rich homes. Other states such as Maharashtra (56,000), Uttar Pradesh (36,000), Tamil Nadu (35,000), Karnataka (33,000) and Gujarat (29,000) account for 46 per cent of the total millionaire households.

An earlier report of Hurun revealed that in the pandemic-stricken 2020, 40 Indians entered the billionaires’ club to take the number of those in the coveted list to 177.

In this ranking, a majority of 118 billionaires were classified as self-made ones, as against 932 of the 1058 billionaires in neighbouring China, which is home to the highest number of billionaires.

The list was led by Elon Musk of Tesla globally with a fortune of USD 197 billion. It was then followed by Amazon’s Jeff Bezos at USD 189 billion and Frenchman Bernard Arnault of fashion house LVMH at USD 114 billion.

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