 "India’s Billionaires Hit .19 Trillion Amidst Economic Challenges")
A recent report by Fortune India reveals that the collective wealth of India’s richest individuals has surpassed $1 trillion, reaching an impressive $1.19 trillion (about Rs 99.86 trillion). This marks a significant 50% increase from $832 billion in 2022, with the number of dollar billionaires in India rising to 185. Mukesh Ambani leads the rankings with a fortune of Rs 10.5 trillion, closely followed by Gautam Adani, whose wealth nearly doubled despite controversies. This growth is attributed to a booming equity Market, which has seen record highs. The list features 29 newcomers across various sectors, including FMCG and pharmaceuticals, showcasing India’s expanding economic landscape.
The wealth of India’s richest individuals has jumped to an impressive $1.19 trillion (approximately Rs 99.86 trillion), according to a new report from Fortune India. This figure represents a significant increase from the $832 billion recorded in 2022, illustrating a remarkable 50 percent rise over the past two years.
The report highlights that there are now 185 billionaires in India, each boasting a fortune of at least $1 billion. This growth merits attention given ongoing global economic challenges and a recent 5 percent decline of the Indian rupee against the dollar. Notably, the collective wealth of these billionaires now accounts for about 33.81 percent of India’s nominal GDP.
This year has seen 29 new billionaires join the ranks, emerging from sectors such as fast-moving consumer goods, pharmaceuticals, and technology, bringing a combined wealth of Rs 4.09 trillion. Leading the wealth chart is Mukesh Ambani, Chairman of Reliance Group, with a staggering wealth of Rs 10.5 trillion, just ahead of Gautam Adani, whose net worth has nearly doubled to Rs 10.4 trillion despite facing controversies.
The rise in wealth among these billionaires has been influenced by strong performance in the equity Market, with benchmark indices hitting all-time highs. The average wealth of billionaires has also increased from Rs 46,729 crore in 2022 to Rs 53,978 crore in 2024. The top positions include renowned names like the Mistry family, Shiv Nadar, and Azim Premji, with the Jindal family matriarch being the only woman in the top 10 list.
In summary, despite economic hurdles, India’s wealthiest have seen substantial gains, reflecting both resilience and growth in various sectors.
Tags: India billionaires, Mukesh Ambani, Gautam Adani, wealth increase, Fortune India report, economic growth, equity Market performance, trillion-dollar wealth
What does it mean that the wealth of 185 richest Indians has surged past $1 trillion?
It means that together, the richest 185 people in India now have more than $1 trillion in total wealth.
Why is a woman in the top 10 of the richest Indians list significant?
Having a woman in the top 10 shows that women are making big strides in business and wealth in India.
How has the wealth of these billionaires changed recently?
Their wealth has increased, meaning they have made more money lately, often due to the growth of their businesses.
What factors contribute to the increase in wealth for these billionaires?
Factors like rising stock markets, successful companies, and new business opportunities help increase their wealth.
Is this wealth increase a positive sign for the Indian economy?
It can be seen as a positive sign because wealthy individuals often invest in businesses, create jobs, and boost the economy.
