Mumbai is Wealthiest Indian City

According to New World Wealth Report, India’s financial capital Mumbai is the wealthiest city in the country with total wealth of USD 820 billion.

Mumbai is followed by Delhi and Bengaluru at the second and third place respectively.

Total wealth refers to the private wealth held by all individuals. The report defines ‘wealth’ as the net assets of a person. It includes all their assets (property, cash, equity, business interests) less any liabilities.

The report excludes government funds from its figures.

As per the report, the total wealth held in the country amounts to USD 5.6 trillion (as of June 2016). The country is home to 264,000 millionaires and 95 billionaires in total.

Billionaires refer to individuals with net assets of USD 1 billion or more.