Hurun India Health Report: 36% of Indian millionaires use e-wallets or UPI for payment

New Delhi: With the rise of UPI transactions and e-wallets, it has now been revealed that 36% of Indian millionaires use e-wallets or UPI as their preferred payment method as compared to the 18% last year. This is according to the Hurun Indian Luxury Consumer Survey 2021.

During the pandemic year, Indian HNIs were more risk-averse. In the Hurun Indian Luxury Consumer Survey 2021, about one-third of HNIs pursued a risk-averse investment mindset during the pandemic, up from 18% last year. Stock markets and real estate remain the most popular investments among the millionaires polled.

Hurun Report, the world's largest wealthy list compiler, today published the second edition of Hurun India Wealth Report 2021, a macro study of India's wealth landscape. Hurun Report has published the second edition of the Hurun Indian Luxury Consumer Study 2021 (a survey with over 50 data points), which provides insights on Indian millionaire brand choices, consumption habits, and lifestyle trends.

The Hurun India Wealth Report 2021 explores the number and geographical distribution of Indian Millionaires, High-Net-Worth, Super-High-Net-Worth, and Ultra-High-Net-Worth Families.

The report breaks down the geographical distribution of millionaires by state and city, depending on their long-term residence. The data is estimated up to the 31st of December 2021.

The Hurun Research Institute polled 350 Indian'millionaires,' defined as someone with a personal wealth of USD 1 million (equivalent to INR 7 crore). There were 42 super-rich (12%) among them, defined as persons with a net worth of INR 100 crore. Their average wealth was USD 6.7 million; their average age was 35 years, one year older than the previous year; and the male-to-female ratio polled was 8:2.