India’s Wealth Report Reveals Spending Trends: Luxury Cars, Watches, and Jewelry

fast Summary

• Wealth Report Findings: Mumbai, Delhi, Bengaluru lead as wealth capitals; Hyderabad, Pune emerging as new hubs. Ahmedabad and Chennai are recent entrants in this list.
• Millionaire Households: India now has 8,71,700 dollar-millionaire households (net worth ≥ ₹8.5 crore), a 10% year-on-year growth and 90% rise since 2021 during the pandemic.
• State Rankings: Maharashtra has the highest number of millionaire households (1,78,600), followed by Delhi (79,800) and Tamil Nadu (72,600). Karnataka and Gujarat complete the top five.
• New Wealth Drivers:

– Start-ups & tech-driven enterprises dominate wealth creation.
– First-generation entrepreneurs lead in IT, finance services, manufacturing & real-estate sectors.- A shift observed from asset accumulation to experience-based wealth expression.

• Lifestyle Insights & Preferences:

– Top investments: Stocks, real estate & gold; UPI dominates digital payments among wealthy Indians.
– Preferred luxury expenses include SUVs/EVs (Mercedes-Benz leading the category), experiential global travel to Europe/Southeast Asia and branded watches/jewelry like Rolex or Tiffany & Co.

• Changing Philanthropy Trends:

– Shiv Nadar family leads charitable donations for education at ₹3,680 crore; Mukesh Ambani contributes ₹626 crore towards healthcare initiatives.
 

Indian Opinion analysis

The Mercedes-Benz Hurun India Wealth Report 2025 illustrates India’s expanding economic landscape driven by entrepreneurial ventures and technology-driven businesses. The data underscores growing affluence among first-generation millionaires along with shifting priorities from solely accumulating assets to valuing global experiences-highlighting evolving cultural dynamics among indian High Net-Worth Individuals.

While established cities such as Mumbai continue their dominance as wealth hubs indicating regional concentration favorable infrastructure .