Ambani tops for 12th year in a row, Adani jumps 8 places to second spot: Forbes
New Delhi, Oct 11: The past year has proved challenging for the India's ''wealth creators'' as Forbes' 2019 list of business tycoons saw their total wealth dropping by 8 per cent.
Prime Minister Narendra Modi, in his Independence Day speech, had said that that the country''s wealth creators help in reducing poverty and deserve respect and encouragement.
"In all, 14 were poorer by $1 billion or more, and nine members from last year's ranks dropped off. More than a third of that decline was due to the remarkable largesse of tech tycoon Azim Premji, who gave away a chunk of his fortune in March and consequently dropped in the ranks to No 17 from No 2," Forbes said.
The Forbes India Rich List 2019 showed industrialist Gautam Adani jumped 8 spots on the list to become the second richest India with net worth of $15.7 billion while Reliance Industries chairman Mukesh Ambani maintained his numero uno spot with $51.4 billion.
Ashok Leyland owners Hinduja brothers stood third with a net worth of $15.6 billion, Shapoorji Pallonji Group''s Pallonji Mistry occupied the fourth spot with a $15 billion net worth, Kotak Mahindra Bank's Uday Kotak was ranked fifth with $14.8 billion net worth followed by HCL Technologies'' Shiv Nadar with a net worth of $14.4 billion.
"Mukesh Ambani remains the richest Indian for the 12th year in a row. He added $4.1 billion to his net worth as Jio, a three-year-old telecom unit of his Reliance Industries, became one of India''s biggest mobile carriers with 340 million subscribers," Forbes said.
The list saw six new debutants including Byju's Founder and CEO, Byju Raveendran at no 72 with net wealth of $1.91 billion, Manohar Lal and Madhusudan Agarwal of Haldiram Snacks at no 86 with net worth of $1.7 billion, Rajesh Mehra of Jaquar, at no 95 with $1.5 billion net worth and Sandeep Engineer of Astral Poly Technik with $1.45 billion net worth.
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India moving towards becoming global economic powerhouse: Kovind
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Amritsar (PTI): Former president Ram Nath Kovind on Friday said that with digital transformation, economic reforms and a strong focus on the ease of doing business, India is moving towards becoming a global economic powerhouse.
He was speaking after inaugurating the 19th edition of the Punjab International Trade Expo (PITEX) in Amritsar.
The former president said that this 19th edition of PITEX is being organised at a time when India is recognised as one of the fastest-growing large economies in the world.
Speaking at the inaugural ceremony of the event organised by the PHD Chamber of Commerce and Industry (PHDCCI) the former president, while referring to Punjab, said the state is a living example of courage, sacrifice and enterprise.
"The spiritual light of Sri Harmandir Sahib (Golden Temple) inspires peace and humanity across the world. The heritage of Punjab is deep and inspiring," Kovind said, according to a statement issued by the PITEX.
The former president congratulated the PHDCCI for hosting the 19th edition of PITEX and suggested that the chamber should expand PITEX outside Punjab.
He proposed that a similar event should also be held in New Delhi.
