Nagpur has 3,700 dollar-millionaire households: Study

Nagpur: The city has 3,700 dollar-millionaire households comprising families which have at least 9 crore, as per the current dollar-rupee exchange rate available as investible funds, says a market assessment by HSBC Bank, which opened its branch in the city on Saturday. If NRIs still maintaining a link with the city are counted, the number would further go up, say bank experts.The HSBC branch was inaugurated by Union minister Nitin Gadkari. Ranked the 13th-largest city in terms of population, percentage-wise Nagpur accounts for 0.42% of the country's dollar millionaires. There are over 871,700 dollar-millionaires in the country, as per the bank's estimates.Investible surplus means money readily available in liquid form, mainly as bank deposits, to be deployed in various asset forms. The value of the investment, including real estate, held by these dollar millionaires can be much higher, said a bank source.Nagpur has 4,361 industrial and commercial units with an investment of 81,763 crore as on in 2025. This makes Nagpur only second to Pune. Counting dollar-millionaires is part of the bank's assessments at time of opening a branch, said sources. As HSBC opens a branch in Nagpur, it is also eyeing business from this segment. "Considering total number of dollar millionaires in India, Nagpur has a good share indeed," said the bank's head of International Wealth and Premier Banking, Sandeep Batra.