Maharashtra has the highest number of millionaires in India.
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Maharashtra, one of India’s most prosperous and populous states, boasts the highest number of millionaires in the country. As an expert in the field, I can confidently assert this fact based on my practical knowledge and experience. Maharashtra’s economic powerhouse, Mumbai, being the financial capital of India, plays a significant role in contributing to the state’s high number of millionaires.
According to a report by New World Wealth, Maharashtra topped the list with approximately 28,400 millionaire households in 2019. This finding showcases the state’s robust economic growth, thriving industries, and favorable investment climate. The table below highlights the top five states in India with the highest number of millionaires:
| Rank | State | Number of Millionaire Households |
|---|---|---|
| 1 | Maharashtra | 28,400 |
| 2 | Uttar Pradesh | 16,600 |
| 3 | Karnataka | 16,000 |
| 4 | Gujarat | 14,700 |
| 5 | Tamil Nadu | 14,300 |
It’s worth noting that while Maharashtra may lead in terms of millionaire households, other states are also witnessing significant wealth creation and growing numbers of affluent individuals. Uttar Pradesh, for instance, secures the second position with 16,600 millionaire households. This reinforces the fact that wealth creation in India is not limited to specific regions but rather spread across the country.
To quote Warren Buffett, one of the world’s most successful investors: “Someone is sitting in the shade today because someone planted a tree a long time ago.” This quote resonates with the flourishing millionaire population in Maharashtra, as it reflects the cumulative efforts and beneficial policies that have contributed to its economic prosperity.
In conclusion, Maharashtra, with its vibrant financial hub Mumbai and conducive business environment, stands out as the state with the highest number of millionaires in India. However, it is important to acknowledge the rising wealth creation across various states, indicating a positive economic trajectory for the country as a whole.
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According to the Hurun India rich list 2020, Mumbai in the state of Maharashtra has the highest number of billionaires in India, with 60 individuals holding that status. New Delhi comes in second with 40 billionaires, followed by Bengaluru with 22. In total, India has 138 billionaires collectively worth 496 billion dollars. The richest person in India is Mukesh Ambani, the chairman of Reliance Industries, with a staggering net worth of 88 billion dollars.
Further answers can be found here
Top 10 Richest States in India 2023: Highest Powerful GDP States
- Top 10 Richest States in India: Indicators for evaluating the wealth.
- The Top 10 Richest States in India 2023 List.
- Richest state in India- Maharashtra.
- Second richest state in India- Tamil Nadu.
- Third richest state in India- Gujarat.
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by state U.S. 2020. In 2020, California had the highest number of millionaire households in the U.S., with 1.14 million households having one million or more in investible assets.
Maharashtra is the wealthiest state in India, with a Gross State Domestic Product (GSDP) of over $400 billion. The state is known for its industrial and agricultural activities. The state is home to India’s largest city, Mumbai, which is a major center for finance and trade.
List
| Rank | State | Number of millionaire households |
|---|---|---|
| 1 | California | 1,147,251 |
| 2 | Texas | 650,216 |
| 3 | New York | 570,456 |
| 4 | Florida | 496,971 |