It has identified a novel household category in India – the ‘New Middle Class’ – with an average savings of Rs 20-lakh per annum.
India is home to 4.12-lakh dollar-millionaire households.
At 4,593, India is fourth after US, China, Germany in the globe in the Ultra high net worth individuals’ category.
Maharashtra (56,000), Uttar Pradesh (36,000), Tamil Nadu (35,000), Karnataka (33,000) and Gujarat (29,000) account for 46 per cent of the total millionaire households.
City-wise, Mumbai is home to most millionaires (16,933), followed by Delhi (16,000), Kolkata (10,000), Bengaluru (7,582) and Chennai (4,685).