India’s millionaire class is booming. According to the Mercedes-Benz Hurun India Wealth Report 2025, the number of households with a net worth of ₹8.5 crore or more has surged by 90% since 2021, reaching 8.71 lakh. This explosion in wealth has transformed how India’s rich spend, save, and aspire.

Luxury real estate remains the crown jewel, with prime homes in Mumbai, Delhi, and Bengaluru topping the list, while second homes in Goa and the Himalayas are increasingly popular. Watches and jewellery remain classic symbols of status, Rolex dominates men’s choices while natural diamonds are still favored by women despite the rise of lab-grown alternatives.

But the spending story goes far beyond tradition. UPI payments have overtaken cards and cash, Emirates is the preferred airline, and Oceania Cruises leads in luxury voyages. Travel, reading, and cooking rank among top hobbies, while yoga emerges as the fitness favorite.

Even gifting reflects thoughtfulness: watches for men, jewellery for women, toys for children, and health products for elders.

Yet, amid the luxury, India’s wealthy lean conservative in investments and cautious in global expansion. The message is clear: India’s new millionaires want more than status, they seek experiences, security, and legacy.