Mumbai/Singapore, Nov.19 (ANI): A rebounding stock market that gained two-thirds in the past year and an economy growing at six percent have boosted the net worth of India's richest people, according to the latest Forbes' India rich list.
The combined net worth of India's 100 richest people is 276 billion dollars, almost a quarter of the country's GDP.
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.
The Reliance Industries head, Mukesh Ambani, is once again the wealthiest person in India. His net worth is put at 32 billion dollars, an increase of 54 percent from nearly 21 billion dollars last year.
Trailing behind him are Lakshmi Mittal with a net worth of 30 billion dollars, up 46 percent from 20.5 billion dollars, and Mukesh's estranged brother, Anil, whose net worth of 17.5 billion dollars, 40 percent, higher than before, puts him in the third place.
Naazneen Karmali, India Editor of Forbes Asia and Mumbai bureau manager for Forbes magazine, said: "Happy days are definitely back again for India's richest. 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."
Indrajit Gupta, Editor of Forbes India, said: "The substantial jump in net worth is clear evidence that entrepreneurial capitalism is alive and kicking in India. What's more, the growth in wealth creation has been broad-based. Entrepreneurs from a wide variety of sectors comprise the list."
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. The Ruia brothers with a net worth of 13.6 billion dollars have made it to number 5 this year.
Adi Godrej has moved out of the top 10 to the number 12 position. Savitri Jindal, non-executive chairwoman of the O.P. Jindal Group, at a net worth of 12 billion dollars 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 dollars.
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 dollars.
Southern India's TV king, Kalanithi Maran, ranked 20, almost doubled his net worth to 2.3 billion dollars from 1.2 billion dollars.
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 Forbes India cover story highlights how 2009 has been a turnaround year for the rich in India. The list is an indicator of how India's billionaires have done better than their counterparts in other parts of the world. The story highlightsnteresting differences between the rich in India and China.
The 100 richest Indians are worth 276 billion dollars; their Chinese counterparts have a net worth of 170 billion dollars.
The three richest Indians are worth 79.5 billion dollars.
The top 10 richest in India in dollars 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 and Ravi Ruia 13.6 billion
6. K P 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 (ANI)
Read More: Jind