According to the Hurun Report, the rich families in India have grown by 11 per cent in the year 2021 with a net worth of Rs 7 crore being reported from 4,58,000 dollar-millionaire households.

Overview:

The Hurun Report has been released after a month of Oxfam’s ‘Inequality Kills: India Supplement 2022’ report, which found that since 2015, more and more of India’s wealth has gone to the top 1% of the population.

According to the Hurun report, the number of wealthy households will increase by 30% to 6,00,000 in the next five years. With 20,300 such households, Mumbai currently leads the list of cities with the biggest number of dollar-millionaire households, followed by Delhi with 17,400 and Kolkata with 10,500.

According to Hurun’s Luxury Consumer Survey 2021, the number of Indian millionaires who use e-wallets or UPI as their preferred payment method has doubled to 36% this year.

The report also states that roughly 33% of High Net-worth Individuals (HNI) have adopted a risk-averse investment approach, compared to 18% last year.

This report also found that there is a drop in the happiness index, with only 66% of respondents saying they are satisfied with their personal and professional lives, down from 72% in the year 2020.

About Hurun Report

Hurun Report is a major research, luxury publishing, and events company with offices in India, France, China, the United States, the United Kingdom, Japan, Australia, Luxembourg and Canada. Hurun Report is well known for compiling the rich list report in the world. The founder of Hurun Global is Rupert Hoogewerf.