Could you guess which city has the greatest number of millionaires in India? You, at first strike, will go for any Metro city. But it will go wrong if you go for any Metro for this question. The correct answer is Nagpur. Nagpur has showed the highest growth rate of millionaires in India.
There were 10,417 household of annual income of more than Rs 10 lakh in Nagpur in 2002. It was 1,199 in the year 1996.
Nagpur has showed the 770% growth rate in just six years. The millionaires have grown up at the rate of 43% per year in Nagpur. The rate of growth is almost double of the rate of growth of Millionaires in Delhi.
According to the NCAER survey, The Great Indian Market, Mumbai (319%) and Delhi (274%) were the third slowest and second slowest among the ten cities to have more numbers of rich households.