Indian cities where the super rich live; Mumbai tops

Despite the slowdown, India’s population of rich is growing. It went up 1.6 per cent in the past one year and the country added more wealthy individuals (120) than any other BRICS nations (Brazil, Russia, India, China, South Africa), according to a study.

The country also has the highest population of women (16 per cent) that fall in the bracket of ultra high net worth (UHNW), says a study by Wealth-X and UBS.

India has over 1,250 UHNW women with a combined fortune of $95 billion, according to World Ultra Wealth Report 2013.

The report defines UHNW as individuals that have a net worth of $30 million (approximately Rs 183 crore) or more.

There are 103 people in India with net worth of over $1 billion (approximately Rs 6,100 crore) and most of this population live in 10 cities.

Let’s look the Indian cities with the wealthiest people.

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Jaipur

Rank: 10

Wealthy population in 2013: 165

Wealthy population in 2012: 175

The capital of Rajasthan is the centre for traditional as well as modern industries. It is famous for large exports of gold, diamond, and stone jewellery.

The RBI ranked Jaipur as the eleventh largest deposit centre.

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Gurgaon

Rank: 9

Wealthy population in 2013: 200

Wealthy population in 2012: 210

Gurgaon was once a sleepy village that has transformed completely thanks to its proximity to New Delhi. The city has progressed at a breakneck speed and now has the third highest per capita income in India.

It is now a leading financial and industrial centre and continues to witness rapid urbanisation. Today, about 250 of the Fortune 500 companies have presence in Gurgaon.

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Pune

Rank: 8

Wealthy population in 2013: 220

Wealthy population in 2012: 215

Pune was a sleepy town with premier education institutes and was know as destination for retirees. Today, it is the eight largest metropolis in India.

Pune has the sixth highest per capita income in the country.

Like Bangalore is synonym with Information technology, Pune is known for its auto industry. All big auto manufacturers have their plant here.

However, IT is soon catching up. IT companies are rushing to set up offices and campuses in Pune.

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Ahmedabad

Rank: 7

Wealthy population in 2013: 225

Wealthy population in 2012: 225

Ahmedabad is the fifth largest city and has the seventh largest metropolitan area in India. The city has thriving businesses and some of the big companies in India have their headquarters in the city.

Two of the biggest pharmaceutical companies, Zydus Cadila and Torrent Pharmaceuticals, are located here. FMCG major Nirma group of industries has its corporate headquarters here, too.

Ahmedabad is the largest supplier of denim and one of the largest exporters of gems and jewellery in the country.

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Chennai

Rank: 6

Wealthy population in 2013: 385

Wealthy population in 2012: 370

Chennai is one of the top 10 fastest growing cities in the world, according to Forbes magazine. It is ranked fourth in hosting the maximum number of Fortune 500 companies in India.

Chennai is one of the biggest hub for automobile manufacturer in India and is base to about 30 per cent of the country’s automobile industry.

Chennai has a diversified economic base anchored by the automobile, software services, hardware manufacturing, health care and financial services industries. Some of the big companies here include Hyundai, Renault, Daimler AG, Ford, BMW and Mitsubishi.

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Hyderabad

Rank: 5

Wealthy population in 2013: 540

Wealthy population in 2012: 535

Hyderabad is one is the commercial capital of Andhra Pradesh and contributes the largest contributor to the state’s GDP, tax and other revenues.

The service industry remains dominant in the city, and 90 per cent of the workforce is engaged in this sector.

IT & ITES is one of the biggest sector and the city is home to more than 1,300 IT firms, including Microsoft, Google, IBM, and Yahoo.

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Kolkata

Rank: 4

Wealthy population in 2013: 635

Wealthy population in 2012: 640

Kolkata is the main commercial and financial hub of East and North-East India. The services sector in the city is well developed and employs 83.69 per cent of the workforce.

Many big companies have made Kolkata their headquarters including ITC Limited, Coal India, and Britannia Industries.

Kolkata also hosts the headquarters of three major public-sector banks: Allahabad Bank, UCO Bank, and the United Bank of India.

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Bangalore

Rank: 3

Wealthy population in 2013: 750

Wealthy population in 2012: 720

The city is called as the Silicon Valley of India because of the high density of IT companies. Thanks to these companies, Bangalore is also one of the leading software exporters in the country.

The city also has one of the highest per capita income and is home to over 10,000 dollar millionaires, according to American Express.

It is home to corporate such as United Breweries Group, Infosys and Wipro.

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Delhi

Rank: 2

Wealthy population in 2013: 1,980

Wealthy population in 2012: 1,945

Delhi is the largest commercial centre in North India and has the highest per capita income in the country. Being the capital of the country, many leading corporates have their presence here. Some of the companies with headquarters in Delhi include Bharti Airtel, Hero Group, and Maruti Suzuki.

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Mumbai

Rank: 1

Wealthy population in 2013: 2,135

Wealthy population in 2012: 2,105

Mumbai is the financial and commercial capital of the country. The city has the highest contribution to the country’s GDP and tax revenues.

Two biggest stock exchanges - Bombay Stock Exchange and National Stock Exchange - are located here. It is headquarters to country’s biggest business houses such as Reliance Industries, Larsen & Toubro, Tata Group, Godrej Group. Five of the Fortune 500 companies are based in Mumbai.

The key sectors contributing to the city's economy are: gems and jewellery, leather, IT and ITES, textiles, and entertainment.