Which state has most billionaires in India : Maharashtra has the most number of billionaires in India, almost all located around the state capital Mumbai —the richest city in India and also financial capital of the country. After this, Gujarat ranks second in terms of the state with a large number of billionaires. This is due to the fact that this state has the largest corporate headquarters and entrepreneurs ecosystem.
To understand the concentration of ultra-high-net-worth individuals across these states, one needs to look at their respective economic infrastructures:
Hence known as the capital for billionaires of India and more than half of India’s richest people lives in Maharashtra. Mumbai boasts over 90 billionaires in a single city, ranking it among the largest billionaire cities internationally. You have many of the largest stock exchanges in the world operating, and entire states dominated by corporate headquarters and multi-disciplinary industries.
Gujarat: Strong business community; Rapid wealth creation in the state over decades >>Recent wealth report places Gujarat as homes many of India’s several billionaires (more than 100) However, cities like Ahmedabad and Surat are massive wealth creators — particularly in manufacturing, gems & jewellery and finance.
Maharashtra has most billionaires in India
With Mumbai being the financial capital of the country, wealth in India is largely concentrated in Maharashtra – which hosts corporate headquarters, secondary stock exchanges (BSE and NSE) service major business empires such as Reliance Industries.
Though those annual numbers may vary slightly based on what index one is comparing (the Hurun India Rich List versus Forbes, for instance), the states sitting at the top of their wealth peaks are often:
Maharashtra (Led overwhelmingly by Mumbai)
Delhi / NCR (Includes Corporate and Industrial hubs like Gurugram and Noida)
Gujarat ( One of the strongest Industrial sector + Manufacturing + Petrochemical base )
Tamil Nadu (With a strong automotive and manufacturing ecosystem)
Karnataka / Telangana (Bengaluru and Hyderabad mainly powered by the successful IT, tech startup and pharma ecosystem)
The Hurun India Rich List features exhaustive analyses of these numbers, as well as ranking the wealth created regionally.
