Mumbai is billionaire Mecca N0. 7: Forbes

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Keywords: Tycoons, Survey

Mumbai: The financial capital of the country has just got another honour.

A Forbes magazine listing on cities with the largest number of billionaires has placed Mumbai in the seventh spot, ahead of Tokyo and San Francisco. The list says Mumbai is home to 20 billionaires.

Forbes put the net worth of the average billionaire in Mumbai being at $7.6 billion. Moscow topped the list.

But its not just Mumbai that is shining. The country itself is making it to the list of the wealthiest nations. A report released by Barclay's Wealth Management Department predicts India will be 8th among the 10 richest nations of the world by 2017.

More than 4 lakh Indians will have over a million dollars by then and India will be ahead of developed nations like Switzerland, Canada, Spain and Hong Kong in terms of household wealth, says the Barclay's study.