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Last year, there were only 27 billionaires on the India rich list. This year, the number has almost doubled to 52, two short of what India had at the peak of the stock market boom in 2007.
“This year's list shows yet again that when conditions in the financial markets and the economy are right, India has the scale and resources to produce billionaires faster than most of the countries on earth,” Naazneen Karmali, India Editor of Forbes Asia and Mumbai bureau manager for Forbes magazine, said.
Though the top ten positions remain largely unchanged, there are some shifts in fortunes across the list.
Sunil Mittal has moved down from Number 4 to Number 8 and Azim Premji has moved up to Number 4 position.
Adi Godrej has moved out of the top 10 to the number 12 position. Savitri Jindal, Nonexecutive Chairwoman of O.P. Jindal Group, at a net worth of $12 billion this year has made it to number 7 on the list – she is one of only six women on the list.
The richest newcomers are two brothers from Torrent Power -- Sudhir and Samir Mehta, ranked 23 at $2.02 billion.
Another notable mention is Nandan Nilekani who has stepped down from Infosys board and is now a part of government. He ranks 43 with a net worth of $1.25 billion. Southern India’s TV king, Kalanithi Maran, ranked 20, almost doubled his net worth to $2.3 billion from $1.2 billion.
His Sun TV Network operates in four states in the south, a region that accounts for one-quarter of India’s population and one-third of those with television in their homes. Forbes Asia features a cover story on Maran.
The Top 10 Richest in India are:
1. Mukesh Ambani $32 billion
2. Lakshmi Mittal $30 billion
3. Anil Ambani $17.5 billion
4. Azim Premji $14.9 billion
5. Shashi & Ravi Ruia $13.6 billion
6. KP Singh $13.5 billion
7. Savitri Jindal $12 billion
8. Sunil Mittal $8.2 billion
9. Kumar Birla $7.8 billion
10. Gautam Adani $6.4 billion
Billionnaires, but the following did not make the top 40 cut:
41. Niranjan Hiranandani $1.32 billion
42. Desh Bandhu Gupta $1.30 billion
43. Nandan Nilekani $1.25 billion
44. Pankaj Patel $1.21 billion
45. Vikas Oberoi $1.20 billion
46. Senapathy Gopalakrishnan $1.15 billion
47. G.V. Krishna Reddy $1.07 billion
48. Ajay Piramal $1.06 billion
49. Vinod Goenka $1.05 billion
50. Shahid Balwa $1.02 billion
51. Virendra Mhaiskar $1.01 billion
52. Anand Jain $1.00 billion
| RANK | NAME | CITIZENSHIP | AGE | NET WORTH ($BIL) | RESIDENCE |
| 7 | Mukesh Ambani | India | 51 | 19.5 | India |
| 8 | Lakshmi Mittal | India | 58 | 19.3 | United Kingdom |
| 34 | Anil Ambani | India | 49 | 10.1 | India |
| 59 | Sunil Mittal & family | India | 51 | 7.7 | India |
| 83 | Azim Premji | India | 63 | 5.7 | India |
| 86 | Shashi & Ravi Ruia | India | 65 | 5.6 | India |
| 98 | Kushal Pal Singh | India | 77 | 5.0 | India |
| 124 | Kumar Birla | India | 41 | 4.2 | India |
| 183 | Adi Godrej & family | India | 66 | 3.3 | India |
| 205 | Dilip Shanghvi | India | 53 | 3.0 | India |
| 234 | Savitri Jindal | India | 59 | 2.7 | India |
| 246 | Malvinder & Shivinder Singh | India | 33 | 2.6 | India |
| 318 | G M Rao | India | 58 | 2.1 | India |
| 334 | Micky Jagtiani | India | 57 | 2.0 | United Arab Emirates |
| 397 | Gautam Adani | India | 46 | 1.8 | India |
| 397 | Indu Jain | India | 72 | 1.8 | India |
| 430 | Shiv Nadar | India | 63 | 1.7 | India |
| 468 | Cyrus Poonawalla | India | 67 | 1.5 | India |
| 468 | Anil Agarwal | India | 55 | 1.5 | United Kingdom |
| 601 | Uday Kotak | India | 50 | 1.2 | India |
| 601 | Kalanidhi Maran | India | 43 | 1.2 | India |
| 601 | Chandru Raheja | India | 68 | 1.2 | India |
| 647 | Subhash Chandra | India | 58 | 1.1 | India |
| 701 | Anurag Dikshit | India | 37 | 1.0 | Gibraltar |
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