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Forbes India unveils India’s richest; combined net worth at $276 billion

21-November-2009
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Forbes India unveils India’s richest; combined net worth at $276 billion

Forbes India recently unveiled its India Rich List in Bangalore with a panel discussion on the topic ‘Purpose of Wealth’. The panel comprised an interesting mix with spiritual guru Sri Sri Ravi Shankar and GV Krishna Reddy, Chairman of GVK Industries, sharing the dais and Subroto Bagchi, Co-founder of Mindtree Consulting as the moderator.

The panel touched upon the issue of being a rich man in a poor country, the purpose of wealth and stressed upon the fact that the wealth should be just a means to an end, but not the end itself and to maintain the spirit of humanness.

The Forbes India Rich list reveals that despite the sluggish economy last year, the combined net worth of India’s 100 richest people stood at $276 billion, which is almost a quarter of the country’s GDP. Also, as compared to the last year, which had only 27 billionaires in the India Rich List, this year the number has inflated to a staggering 52 with Mukesh Ambani of Reliance Industries leading the pack.

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 countries on earth.”

Indrajit Gupta, Editor of Forbes India, added, “The substantial jump in the 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.”

The latest issue of Forbes India covers the India Rich List in detail. The magazine is launched in partnership with Network18 in India.

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