India's Prime Minister Narendra Modi, 67, was ranked 9th on the Forbes 2018 list of 75 of the world’s most powerful people.
Other than Prime Minister Narendra Modi, the only other Indian who features in “The World’s Most Powerful People” list released by Forbes is Reliance Industries Chairman Mukesh Ambani. The richest Indian with a net worth of $41.2 billion is ranked 32nd in the list. On Ambani, Forbes said the billionaire industrialist’s Reliance sparked a price war in India’s hyper-competitive telecom market with the launch of 4G phone service Jio in 2016. “Jio has signed on 160 million customers by offering free domestic voice calls, dirt-cheap data services and virtually free smartphones,” Forbes said. India-born Microsoft CEO Satya Nadella is ranked 40th in the list. “Since taking over as a CEO, Microsoft’s stock has increased by more than 150 per cent,” Forbes said.
Narendra Modi, 67, was ranked 9th on the Forbes 2018 list of 75 of the world’s most powerful people. He is leading Facebook CEO Mark Zuckerberg (ranked 13), United Kingdom Prime Minister Theresa May (14), Chinese Premier Li Keqiang (15) and Apple CEO Tim Cook (24).
The Forbes has praised Modi’s demonetisation action. “Modi has raised his profile as a global leader in recent years during official visits with US President Donald Trump and Xi Jinping. He has also emerged as a key figure in the international effort to tackle climate change, as warming affects millions of his country’s rural citizens,” Forbes said.
Reliance Industries Chairman Mukesh Ambani chairs and runs $51 billion (revenues) oil and gas giant Reliance Industries (RIL). It is among India’s most valuable companies. Reliance was founded by his late father Dhirubhai Ambani who was a yarn trader in 1966 as a small textile manufacturer.
The Russian President Vladimir Putin dropped to the second spot after being named the most powerful person in the world for the four running years. He was dethroned by Chinese President Xi Jinping.