In 2021, Mumbai was home to the highest number of millionaires, followed by India's capital New Delhi, and the IT capital - Bengaluru. This comes as no surprise since all three cities have the largest share of high net worth households along with a booming economic outlook.
Mumbai is home to 283 of the richest Indians with the list headed by Mukesh Ambani and family, who is also the second-richest Indian in the list after Gautam Adani and family.
In this period of 2022, UAE, Israel, the US, Portugal, Canada, Singapore, Australia, New Zealand, Greece, and Switzerland, on the flip side, saw the most inflow of millionaires. Notably, nearly 80,000 millionaires have moved to Australia over the past two decades. In 2022, 3,500 individuals landed in the country.
Where do India's wealthy live? Mumbai, not Delhi, has the highest number of millionaire households. India's capital does come second, and Kolkata ranks third. According to the report, Mumbai has 20,300 millionaire households whereas Delhi has 17,400.
Securities
Another common place where billionaires keep their money is in securities. Securities are financial investments and instruments with some value that can be traded, oftentimes on public markets. Common types of securities include bonds, stocks and funds (mutual and exchange-traded).
"Normally HNWI (or HNI) outflows are related to finding better business opportunities abroad. Also safety concerns, taxation and standard of living are major drivers," Andrew Amoils, head of research at New World Wealth, a wealth intelligence firm, told CNBCTV18.com.
Scoring tenth place among the richest persons in the world in 2022, Mukesh Ambani has $91 billion in net worth. The founder and chairman of Reliance Industries has his interests across petrochemicals, oil and gas, retail and telecom.
Mumbai. Number of rich individuals: 283 | Being the financial hub of India, Mumbai is home to the maximum number of affluent people, as per IIFL Wealth Hurun India Rich List 2022.
1. Malabar Hill, Mumbai: Home to various celebrities like Juhi Chawla and Akshaye Khanna, Malabar Hills is one of the costliest residential areas in Mumbai. The Hill gives you the view of Nariman Point, Marine Drive, and Chowpatty. The cost of properties in this area ranges to Rs.
The report has clubbed these groups into seven categories, ranging from the “destitutes” (those with an annual family income of under Rs 1,25,000 or$1,700 in 2020-21) to the “super rich” (annual family income of over Rs 2 crore or $270,000 in 2020-21) with the middle class in between.
In 2021, Mumbai was home to the highest number of millionaires, followed by India's capital New Delhi, and the IT capital - Bengaluru.
To be in top 1% of earners in India requires an annual income of $77,000 (₹55 lakh), according to data compiled by Bloomberg. While it takes $107,000 to enter the group in China, the UK requires $248,000.
Proximity to my homeland, a safe environment and world-class facilities made it an easy destination to move to,” said Dr Rajesh Pattanayak, Chief of anaesthesia at the American Hospital, Dubai. Dubai is also where upwardly mobile Indians go to shop, trade or party.
Mumbai, also knows as the city of dreams is the richest city in India with GDP of $606.625 billion. The financial capital of India is also ranked 12th on the list of richest cities globally.
Madhapar is a village located in Kutch district in the state of Gujarat, India. It is one of the richest villages in India in terms of bank deposits. The village has around 7600 households and 2000 crore Indian rupee worth bank deposits.
Shanti Niketan - Posh Locality of Delhi
Well, jokes apart, with a highly strategic location, Shanti Niketan ranks among the poshest residential areas of Delhi, the reason you'd find top industrialists and other elite groups living in the lavish houses of Shanti Niketan.
Bengaluru among the most expensive real estate markets in India: Report | Mint.
The country is largely dependent on fossil fuels oil, gas, and coal but it is increasingly adding capacity to produce hydroelectricity, wind, solar, and nuclear power. Medical tourism to India is also a growing sector.
It is possible to earn huge returns on investment by investing in stocks, bonds, and equities. Trading in the stock market is one of the most assured and dignified methods to become rich. One can even trade for gold, silver, and anything else.
A total of 43% of the billionaires, accounting for 60% of billionaire wealth, had their primary - and original - sources of wealth from industries like property development, infrastructure, construction, mining, telecoms, cement and media. These industries, Ms Gandhi and Mr Walton say, have strong links with the state.
From work prospects to an educational adventure, there are many reasons why people choose to emigrate from India to Australia. And as of 2022, people from India are the second largest immigrant group moving to Australia.
Very Low Quality of Life
India receives the second-worst results worldwide in the Quality of Life Index (58th) — only ahead of Kuwait (59th) — and performs especially poorly in the Quality of the Environment subcategory (59th): 67% of expats rate the air quality negatively (vs.