Mukesh Ambani retains the richest Indian title in Global Rich List, Mumbai is home to 42 billionaires

Mukesh Ambani retains the richest Indian title in Global Rich List, Mumbai is home to 42 billionaires

Hurun Report today released the Hurun Global Rich List India, a list of the richest people in India featured in the Hurun Global rich list with a cut-off of US$1bn. This is the 6th year of the list, which has become a benchmark for the private sector. For all conversion purposes the US Dollar to Indian Rupees is Rs 68.1/ US Dollar.

Mukesh Ambani, 59 (Global Rank: 28): With a fortune of Rs 175,400 crore (US$26bn), oil and telecom mogul and the chairman of Reliance, Mukesh Ambani, topped the list of 132 individuals. In addition to his aggressive plans for his oil business, Mukesh Ambani is now focusing on his new telecom venture, Jio, which has acquired more than 100 crore customers in less than 6 months. This aggressive price war has dragged down other local players such as Idea, Airtel; In fact Idea registered a record loss of Rs 384 crore in Q3 2016 and is planning on a merger with Vodafone to survive the competition. Read more

Credits: http://www.indiainfoline.com

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