New Delhi: Reliance Industries chairman Mukesh Ambani has topped the latest Forbes’ India Rich List with a net worth of 27 billion dollars for the third consecutive time.
Steel tycoon Lakshmi Mittal remains at No. 2 with a net worth of 26.1 billion dollars.
Moving up to third position this year is IT outsourcer Wipro’s Azim Premji. His wealth increased to 17.6 billion dollars from 14.9 billion dollars last year amid an improving outlook for the sector.
Premji moves up to third place, displacing younger Ambani sibling Anil Ambani, who dropped to No. 6.
India’s rising stock market and a booming economy that’s expanding by 8.5 percent have boosted the net worth of richest people, according to Forbes’ India Rich List.
The combined net worth of India’s 100 richest people is 300 billion dollars, up from 276 billion dollars last year. This year, there are 69 billionaires on the India Rich List, 17 more than last year.
Also improving on their previous ranking to No. 4 are brothers Shashi and Ravi Ruia with 15 billion dollars, more than their last year’s net worth of 13.6 billion dollars.
Naazneen Karmali, India Editor of Forbes Asia and Mumbai bureau manager of Forbes
magazine, said: “As we had predicted, the huge correction in Indian wealth which occurred in 2008 is fast becoming a distant memory. This year’s list illustrates the vibrancy and resilience of India’s economy.”
Twenty-six of the 35 who returned to the top 40 from last year are wealthier now. The biggest gainer in percentage terms was media baron Kalanithi Maran, who made a splash with his purchase of a big stake in low-cost airline SpiceJet. His net worth rose 74 percent, according to Forbes.
The top 10 richest in India are:
1) Mukesh Ambani; US$27 billion
2) Lakshmi Mittal; $26.1 billion
3) Azim Premji; $17.6 billion
4) Shashi & Ravi Ruia; $15 billion
5) Savitri Jindal; $14.4 billion
6) Anil Ambani; $13.3 billion
7) Gautam Adani; $10.7 billion
8) Kushal Pal Singh; $9.2 billion
9) Sunil Mittal; $8.6 billion
10) Kumar Birla; $8.5 billion