Mumbai richest Indian city with $820 bn wealth

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SME Times News Bureau | 27 Feb, 2017
Mumbai is the richest Indian city with a total wealth of $820 billion, a report has said.

According to the latest New World Wealth report, India's financial capital here is home to 46,000 millionaires and 28 billionaires, and is followed in terms of wealth by Delhi in second place and Bengaluru in third place.

Delhi is home to 23,000 millionaires and 18 billionaires with a total wealth of $450 billion, while Bengaluru has 7,700 millionaires and 8 billionaires and an aggregate wealth of $320 billion.

Home to 9,000 millionaires and 6 billionaires, Hyderabad comes next with a total wealth of $310 billion.

Kolkata houses 9,600 millionaires and 4 billionaires, and has a total wealth of $290 billion.

Pune, with a total wealth of $180 billion, has 4,500 millionaires and 5 billionaires.

"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.

The total wealth held in India as of December 2016 amounts to $6.2 trillion, while the country is home to 264,000 millionaires and 95 billionaires, it added.