633,000 'New Middle Class' households In India: Hurun India report

These households have average saving of Rs 20-lakh per annum and allocate mostly towards physical assets such as primary residential property and automobiles

Hurun India Wealth Report 2020 released Tuesday has identified a novel household category in India – the ‘New Middle Class’ – with an average savings of Rs 20-lakh per annum. These households, the report says, have major allocation towards physical assets such as primary residential property and automobiles. Hurun India pegs the total number of such cumulative households in India at 633,000.

According to Hurun, there are 412,000 dollar-millionaire households / affluent households in India with a networth of at least Rs 7 crore. Hurun Rich Listers have a wealth of Rs 1,000 crore, the report says, and pegs the