India's financial capital Mumbai, which is home to 46,000 millionaires and 28 billionaires, is the richest Indian city with a total wealth of 820 billion dollars, says a report.
According to New World Wealth, Mumbai is the richest city in the country, reports PTI.
Delhi is in the second position. Delhi is home to 23,000 millionaires and 18 billionaires with a total wealth of $450 billion. 10 Jobs That Are "In Demand" Around The World Right Now
India's silicon valley, Bengaluru is third in wealth. While Bengaluru with a total wealth of 320 billion dollar houses 7,700 millionaires and 8 billionaires.
The list also includes Hyderabad with a total wealth of 310 billion dollars. Hyderabad is home to 9,000 millionaires and 6 billionaires.
Kolkata home to 9,600 millionaires and 4 billionaires has a total wealth of $290 billion, Pune (total wealth of $180 billion, has 4,500 millionaires and 5 billionaires). Top 10 Companies That Will Be Most Affected By H1-B Visa Rule
Chennai (150 billion, 6,600 millionaires, 4 billionaires) and Gurgaon (110 billion with 4,000 millionaires and 2 billionaires). Some of the other emerging cities in terms of total wealth include Surat, Ahmedabad, Visakhapatnam, Goa, Chandigarh, Jaipur, and Vadodara. The total wealth held in the country amounts to 6.2 trillion dollars (as of December 2016) and the country is home to 264,000 millionaires and 95 billionaires in total.
"Over the next decade, India is expected to benefit from strong growth in the local financial services, IT, real estate, healthcare, and media sectors. In particular, the local hospital services and health insurance sectors are expected to grow strongly. Hyderabad, Pune, and Bangalore are expected to lead the pack in terms of wealth growth," the report said.
Who are HNWIs?
Millionaires or High Net Worth Individuals (HNWIs) refer to individuals with net assets of 1 million dollars or more. The report also jotted down some of the affluent suburbs in the country. In Mumbai localities like Bandra, Juhu, Goregaon, Parel, Worli, Palm Beach Road were named as the richest, in Delhi, it was (Westend Greens, Dera Mandi, Greater Kailash, Lutyens), in Kolkata (Ballygunge, Alipore) and in Chennai (Boat Club Road, Poes Garden). Who Are High Net Worth Individuals or HNIs?