India may have a huge percentage of its population still living under the poverty line but that does not mean that the population of the ultra-rich is getting any smaller. Every year the percentage of India’s rich population is increasing and that too at a fast pace. The people having income over a specific threshold level are considered ultra-rich and are termed as Ultra High Net Worth (UHNW) by the Wealth X and UBS. It is also surprising to find a huge population of women in this wealth bracket. About 5% of the world’s millionaire population reside in India whereas about 2% of the world’s billionaire have their homes all over the different cities in India.
It does not come as a surprise that the city housing the most number of ultra-rich people is none other than the economic capital of the country, Mumbai. In fact the number is as high as 1300 UHNW which is more than double the number of the next city in line. The city is ranked 21st globally and 9th in Asia. The key sectors which contribute to the economy of the city are the IT sector, textile, entertainment, leather and more. The 2nd in line to Mumbai is the capital of India, Delhi. Ranking 35th in the world this city houses around 680 UHNW individuals. There are many leading companies and corporate houses which add to the economic upliftment of the city. The city ranking 3rd in India is Kolkata which houses around 280 of the ultra-high net worth individual. The city of Hyderabad is ranked 4th in the country. The IT and ITES are the most important sectors in the city which harbours more than 260 individuals in the UHNW category. In terms of wealth index the city occupying the 5th position is none other than the IT capital of India, Bangalore. There are as many as 220 individuals in this city which qualify to be ultra-rich. Chennai ranks 6th in this list with 190 UHNW individual dwelling in the city. The city has one of the largest automobile industry. The next city in line occupying the 7th position in the wealth index is Pune with the 140 UHNW individuals. This city has seen one of the fastest economic progression in the recent times and is becoming an IT hub of the country. Ranking 8th is Gurgaon which is very close by to Delhi with 110 ultra-rich people residing in the city.
