The 'India Rich List 2017', compiled by China-based Hurun Report, has listed 617 individuals with wealth of Rs 1,000 crore or more, up 278 from the previous year, sources said on Monday.
The ‘India Rich List 2017’, compiled by China-based Hurun Report, has listed 617 individuals with wealth of Rs 1,000 crore or more, up 278 from the previous year, sources said on Monday. Better-than-expected corporate results in 2017 have offset the impact of demonetisation and the wealth of the people in the list has on an average increased 17% compared to the last year, sources said. Number of dollar billionaires in the list has increased to 136 from 126 last year. There were 59 billionaires in the inaugural Hurun India Rich List in 2012. “Demonetization, GST implementation and so on have not impacted wealth creation in organized sector. In fact, going by the trend in the list, these factors seem to have positively impacted the mega rich and their companies. Despite a solid performance of the corporates, a declining trend in national GDP growth points to impact of such schemes on the unorganized sectors”, said Anas Rahman Junaid, MD and chief researcher, Hurun Report India.
Mukesh Ambani, with net worth of Rs 257,900 crore is ranked first in the list for the sixth consecutive year. Haridwar-based Acharya Balkrishna of Patanjali rose to the eighth position, from 25th last year, as his wealth grows by 173% to Rs 70,000 crore. The biggest gain registered was a 321% increase by Radhakishan Damani (62), chairman of Avenue Supermarts, followed by Anurang Jain, managing director of Endurance Technologies, with an increase of 286% in wealth, Junaid said. Another notable performer was Kishore Biyani of Future Retail, who registered a 259% wealth increase. Merger of Future Retail and Bharti Retail created the biggest supermarket chain with a turnover of `15,000 crore and its subsequent relisting resulted in significant wealth creation for Biyani.