What do India’s richest people spend their money on? Latest wealth report reveals trends about Rolex, Gucci and more
The Mercedes-Benz Hurun India Wealth Report 2025 reveals India's wealthy households have nearly doubled to 871,700 since 2021. Here's what they spend their money on.
The Mercedes-Benz Hurun India Wealth Report 2025 highlights the rapid rise of India’s wealthy households, which have almost doubled since 2021 to 8,71,700.
These millionaire families, with net worth above ₹8.5 crore, now form 0.31% of all households. Confidence in India’s growth remains high, with 83% optimistic about the next three years.
The surge comes with GDP growth, stock market gains, new billionaires and rising gold prices.
Maharashtra leads with 1,78,600 millionaire households, fuelled by Mumbai’s 1,42,000. Delhi has 68,200, and Bengaluru has 31,600.
Stocks, real estate and gold remain top investments while UPI dominates digital payments.
The Mercedes-Benz Hurun India Luxury Consumer Survey 2025 shows varied views on financial freedom. While 27% said ₹50 crore is enough, 25% chose ₹10 crore, and 20% set it at ₹200 crore.
About 60% of wealthy households spend under ₹1 crore yearly, mostly on tourism, education and entertainment. Paying taxes (30%) is seen as the top social responsibility.
What do India’s ultra-rich spend money on?
In jewellery, 75% still prefer natural diamonds, with Tanishq leading in India and Tiffany & Co. globally. CaratLane leads among online jewellery platforms.
Watches are the most gifted item for men (43%), jewellery for women (50%) and toys for children (51%) while health products remain most popular for elders.
Rolex dominates luxury watches while Gucci and Louis Vuitton are top accessories. Emirates is the airline of choice, and Taj Hotels lead in luxury stays.
Over half of India's millionaires own more than one car, with many upgrading within three to six years. Around 40% keep their car for more than six years.
For the ultra-rich, travel (45%) is the top hobby, followed by reading and cooking. Yoga (27%) is the most preferred fitness activity.
Oceania Cruises leads in luxury cruises, preferred by 19% of respondents. For education abroad, the USA (19%) is most popular, followed by the UK (14%). However, 42% prefer to keep children in India.
Social media has overtaken traditional media as the main news source. Over 60% rate themselves 8+ on happiness and well-being.