Kolkata 5th among Indian cities on dollar-millionaire list
Times of India | 19 September 2025This achievement underscores the city's role as a key player in India's wealth landscape, measured in terms of US dollar-millionaire households. One million dollars is equivalent to around Rs 8.5 crore.
The report, a collaboration between Mercedes-Benz and Hurun India, highlights Kolkata's contribution to West Bengal's economic prosperity, accounting for 53% of the state's millionaire households. West Bengal has 50,400 millionaire households.
This growth is attributed to the state's impressive 45% Gross State Domestic Product (GSDP) increase and the city's robust traditional business communities.
Kolkata's rise in the millionaire rankings is a testament to its dynamic economic environment bolstered by a mix of traditional industries and emerging sectors. The city's strategic location and its status as a commercial hub have attracted significant investments, further fuelling its economic expansion.
Nationally, Mumbai continues to lead the list with 1,42,000 millionaire households, followed by New Delhi with 68,200, and Bengaluru with 31,600.
Ahmedabad narrowly edges out Kolkata for the fourth spot with 26,800 millionaire households.
These cities, along with Kolkata, form the backbone of India's affluent class, reflecting the country's broader economic vibrancy. The report also highlights the overall growth in India's millionaire households, which surged by 90% from 2021 to 2025, reaching a total of 8,71,700. This growth is indicative of India's robust wealth creation, supported by strong macroeconomic fundamentals and a burgeoning domestic market.
Kolkata's position in the top five reflects the city's potential as a major economic powerhouse. The city's diverse economic base is also a contributing factor.
