Mumbai is dwelling to the biggest variety of greenback millionaires or people possessing a private wealth of greater than ₹7 lakh in India, at 20,300 households, in accordance with a survey. It’s adopted by Delhi at 17,400 households and Kolkata at 10,500.
The Hurun Report findings confirmed that greenback millionaires in India witnessed a spike by 11 per cent to 4.58 lakh households in India on the finish of the Covid-19-affected 2021.
The survey of 350 such greenback millionaires additionally indicated that the variety of those that classify themselves as pleased in private {and professional} lives slipped to 66 per cent in 2021, down from 72 per cent within the earlier yr.
The Hurun Report findings come at a time when there may be rising concern in regards to the rising inequality within the nation with a inhabitants of over 130 crore.
A just lately launched report by non-profit Oxfam pegged the wealth of high 100 richest Indians at USD 775 billion, and added that India accounted for 4.6 crore or half of the general folks on the planet falling into excessive poverty in 2021.
The report estimated the variety of Indian greenback millionaires to extend by 30 per cent to the touch 6 lakh households by 2026.
At a time when requires taxing the super-rich are rising – Oxfam advocated greater taxation to avoid wasting lives – lower than a 3rd amongst these surveyed felt paying taxes is a determinant of social accountability, the report by Hurun mentioned.
Equally, when requires larger assist by way of philanthropy are rising, solely 19 per cent of the millionaires surveyed by Hurun mentioned they consider in giving again to society.
Over two-thirds of these surveyed mentioned they are going to choose sending their children overseas for training, with the US rising the favorite vacation spot adopted by the UK, New Zealand and Germany.
The survey additionally centered on consumption, and located {that a} fourth of these within the record change their vehicles each three years with the German carmaker Mercedes Benz rising as probably the most most popular.
Watch assortment is a favorite interest among the many millionaires and almost two-thirds of these surveyed mentioned they personal 4 time items, the survey mentioned, including that Rolex is probably the most most popular model.
Indian Accommodations’ Taj emerged as probably the most most popular hospitality model, whereas Tanishq, additionally owned by the Tata Group, emerged because the favorite jewelry retailer.
Louis Vuitton was probably the most most popular luxurious items model whereas Gulfstream was probably the most most popular personal jet model, the survey mentioned.
“…The subsequent decade presents a significant alternative for luxurious manufacturers and repair suppliers to enter/ additional strengthen presence in India,” Anas Rahman Junaid, managing director and chief researcher for Hurun India, mentioned.
The variety of greenback millionaires utilizing UPI for funds has doubled to 36 per cent, whereas almost a 3rd of them mentioned they’re at present avoiding dangers of their investments.