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Dilip Sanghvi , the founder of <keyword id="44642" type="CITY" weightage="60" keywordseo="Sun-Pharma">Sun Pharma</keyword> who recently hogged limelight for being the richest man in India surpassing the Ambanis and Adanis, may soon be the messiah for the cash strapped shipbuilder <keyword id="44525" type="COMPANY" weightage="80" keywordseo="ABG-Shipyard">ABG Shipyard</keyword>. The private shipbuilder, which operates a ship repairing unit in Goa has been pinning hopes on the Indian multi millionaire. As per a report by The Economic Times, Shanghvi's investment arm <keyword id="2791958" type="UNKNOWN" weightage="80" keywordseo="Dilip-Shanghvi-Family-Associates">Dilip Shanghvi Family &amp; Associates</keyword> (DFA) has been approached to buy 30% stake in ABG Shipyard for around Rs 2000 crore. 
 "<keyword id="207035" type="PERSON" weightage="60" keywordseo="Dilip-Shanghvi">Dilip Shanghvi</keyword>'s arm is said to be evaluating the deal and its still early days" a source with direct knowledge has told the financial daily. L&amp;T is also in the fray to buy a stake in ABG Shipyard, sources confirmed to ET. ABG Shipyard deal has been shown to M&amp;M and Munjal family in the past, but they are out of the deal now. 
 DFA with ace investor <keyword id="1007760" type="UNKNOWN" weightage="80" keywordseo="Sudhir-Valia">Sudhir Valia</keyword> has signed many big deals including investments in debt-laden Suzlon and hopes are high that Dilip Shanghvi, who is said to be interested in the defence sector, may look at the ABG Shipyard deal closely. 
 
Talking to ET Now, ABG Shipyard's Rishi Agarwal said, "We are in discussion with many strategic players for a stake sale." 
 
(Image: Reuters)

​Dilip Shanghvi, India’s richest man, could soon be building ships

<ul><li><keyword id="207035" type="PERSON" weightage="20" keywordseo="Dilip-Shanghvi">Dilip Shanghvi</keyword> is the founder of $3.6billion, Sun Pharma, India's most valuable pharma outfit. </li><li>He once dethroned Mukesh Ambani as India's richest man but is now witnessing a massive decline in his wealth. </li><li>Sanghvi, "unschooled in science and management" turned Sun Pharma a $3.6 billion multinational company</li></ul>In 2015, the chairman of Sun Pharma Dilip Shanghvi had briefly dethroned Mukesh Ambani to become the country’s richest man. His response to that was, “I am not comfortable.” Though he doesn’t hold that position anymore, his net worth can buy him 138 million barrels of gold, according to Bloomberg billionaire index. Shanghvi is one of the few billionaires who stay away from limelight and remain undocumented, as he doesn’t “like it”. 
 
	<div type="Slideshow" msid="71076825" hostid="261" title="Dilip Shanghvi, the common man turned Indian billionaire who is taking home a salary of ₹1" firstImageMsid="71077028" slideCount="5"></div>

Dilip Shanghvi, the common man turned Indian billionaire who is taking home a salary of ₹1

Business scenario is constantly changing all over the world and equally fast in India. If you are interested to know who rules the entrepreneurial domain in India, here are the top 10 businessmen in India. 1. <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> 
 
 
 <div type="image" title="Mumbai: Reliance Industries Chairman Mukesh Ambani with his wife Nita Ambani at ..." msid="69547985" hostid="261" caption="&amp;lt;p&amp;gt;Reliance Industries Chairman Mukesh Ambani with his wife Nita Ambani at the solo art exhibition titled &amp;quot;A Tale Untold&amp;quot;, in Mumbai on Tuesday, August 21, 2018.Photo)&amp;lt;/p&amp;gt;"></div>






 Ruling the petrochemicals, oil and gas sector in India, Mukesh Ambani has a net worth of $47.3 B. He is the chairman of $90 B enterprise in the giant of Oil and Gas domain called as Reliance Industries. Reliance also is one of the leaders in the telecom market in India that serves more than 300 million customers with free domestic calls, cheap data services and free smartphones. 2. <keyword id="6419840" type="PERSON" weightage="20" keywordseo="Azim-Premji">Azim Premji</keyword> 
 
 
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 Azim Premji’s net worth is $21 B and he is one of the leaders in the software services in India. He is a popular tech magnet in the country. His outsourcing firm Wipro is the third largest in India. His innovation center in Silicon Valley develops new technologies and collaborates with startup businesses. 3. Lakshmi Mittal 
 
 
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 The third richest man in India, Lakshmi Mittal has a net worth of $18.3 B. He is a leader in the steel industry in India. He is the CEO of the world’s biggest steel manufacturing company Arcelor Mittal. In November 2018, his firm completed the $2.1 billion acquisition of Ilva, Italy’s steel group. 4. Hinduja brothers 
 
 
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 Hinduja brothers, the fourth richest persons in India with a net worth of $18 B own establishments with diversified interests dealing with lubricants, banking and cabling industries. 5. <keyword id="6689214" type="PERSON" weightage="20" keywordseo="pallonji-mistry">Pallonji Mistry</keyword> 
 
 
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 Pallonji Mistry is the fifth richest businessman in India with a net worth of $15.7 B. he controls Shapoorji Pallonji Group, the construction company based in Mumbai. His family also own an 18.4% stake in Tata Sons that holds an outfit of $100 billion in Tata Group. 6. Shiv Nadar 
 
 
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 With a net worth of $14.6 B, Shiv Nadar is the sixth richest entrepreneur in India. A pioneer in the IT sector of India, Shiv Nadar is the cofounder of the HCL starting initially with the production of calculators and microprocessors. Today, HCL Technologies is an $8.2 billion company in the country. 7. <keyword id="2349569" type="PERSON" weightage="20" keywordseo="Godrej-family">Godrej family</keyword> 
 
 
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 The seventh place among the richest businessmen in India goes to Godrej family. With a net worth of $14 B, the Godrej family controls the <keyword id="133008" type="COMPANY" weightage="20" keywordseo="Godrej-group">Godrej Group</keyword> which is a giant player in the consumer goods segment in India. 8. Dilip Shanghvi 
 
 
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 The net worth of Dilip Shanghvi is $12.6 B. A leading player in the pharmaceuticals industry, Dilip Shanghvi chairs the India’s largest pharmaceutical establishment and the world’s fourth largest specialty drugs manufacturing company Sun Pharmaceutical Industries. 9. Kumar Birla 
 
 
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 Kumar Birla with a net worth of $12.5 B is the head of Aditya Birla Group dealing with diversified offerings namely cement, aluminium, telecom and financial services. In 2018, his firm Idea Cellular acquired Vodafone India, India’s largest telecom firm. 10. Gautam Adani 
 
 
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 With a net worth of $11.9 B, Gautam Adani is the tenth richest businessman in India. Dealing with commodities, power generation and transmission and infrastructure, Gautam Adani is a ports Tycoon who controls Mundra Port, the largest port of India in Gujarat. 
 See also: <a href="https://www.businessinsider.in/the-top-10-richest-person-in-india/articleshow/68352802.cms">Meet the top 10 richest people in India</a> <a href="https://www.businessinsider.in/These-are-the-10-richest-people-in-India/articleshow/65957318.cms">These are the 10 richest people in India</a>

Meet India's top 10 Businessmen in 2019

After Cholamandalam and <keyword id="3377501" type="UNKNOWN" weightage="100" keywordseo="Dilip-Shanghvi-IDFC-Bank-Telenor">Dilip Shanghvi-IDFC Bank-Telenor</keyword> combine, <keyword id="43217" type="CITY" weightage="100" keywordseo="Tech-Mahindra">Tech Mahindra</keyword> has become the third entity to have dropped out of the payments bank race. 
 
The firm has cited that the business would take a lot of time to turn profitable because of "aggressive posturing" by deep-pocketed global competitors. 
 
Cholamandalam had quit the race in April, while Dilip Shanghvi-IDFC Bank-Telenor combine announced their decision last Friday. 
 "Over a period of time, we have realised that the amount of aggression that has come into the marketplace only erodes the margins," said Tech Mahindra MD and CEO <keyword id="45959" type="ORGANIZATION" weightage="100" keywordseo="CP-Gurnani">CP Gurnani</keyword>. 
 
The Reserve Bank of India had given in-principle approval for payments banks to TechM and 10 others in August 2015. 
 
Gurnani further added that payments bank business always carried the risk of profit margins being "razor thin," but the competition they would face includes the who's who of the telecom world, including the Ambanis, the Birlas, Airtel and Vodafone, among others, thus delaying profitability for a long time. 
 The announcement has come just a day after RBI deputy governor <keyword id="1531843" type="COMPANY" weightage="100" keywordseo="S-S-Mundra">S S Mundra</keyword> had said that it was not fair of licencees to abandon their plans to set up payments banks. "We would certainly feel little aggrieved because lot of efforts from the part of RBI go in processing these applications," Mundra has said. 
 
<a href="https://i.ytimg.com/vi/_7G6qYLELes/maxresdefault.jpg">Image source</a>

Tech Mahindra chickens out of payments bank race, cites delayed profitability and tough competition

ealth does not remain static especially during the fluctuating industry scenario today. India has produced several billionaires who occupy a significant number of slots on the list of wealthiest persons in the world today. Here is the list of the top 10 richest persons in India as per their latest real time Forbes data on 11 October 2021. 1. Mukesh Ambani - $102 billion The wealthiest person in India, Mukesh Ambani of Reliance Industries occupies the Tenth slot in the world’s richest persons’ list. Mukesh Ambani has a net worth of $102 billion. Much of Mukesh’s wealth ensues from the petrochemicals and oil and gas businesses built by his father Dhirubhai Ambani ⁠— a business icon in his own right— but Mukesh is pivoting to more consumer-facing businesses like telecom and retail. Reliance Jio is one of the largest telecom networks in India today and has <a href="https://www.businessinsider.in/business/news/mukesh-ambani-owned-reliance-jio-compared-to-alibaba-and-tencent/articleshow/77059624.cms">already raised over $20 billion in recent months</a> and the next leg of fundraising <a href="https://www.businessinsider.in/business/news/mukesh-ambani-next-goal-seems-to-be-the-retail-king-of-india/articleshow/76953716.cms">will be for retail</a>. 2. Gautam Adani - $71.7 billion Gautam Adani’s net worth as per the latest forbes records is $71.7 billion. He is the Second <keyword id="7413735" type="General" weightage="20" keywordseo="richest-person-in-india" source="Orion">richest person in India</keyword> and ranks 15 on the list of the world’s richest. Apart from Mundra Port, the largest in India, his wealth-generating portfolios include a range of commodities, power generation including renewable energy (like solar farms), and transmission to name a few. 3. Shiv Nadar - $31.5 billion With his $31.5 billion estimated net worth, Shiv Nadar ranks as the third richest person in India. HCL Technologies founded by him is a (₹) 274826 crore (market value) company and one of the largest software services exporters in the world today. With its presence in over 45 countries on the globe, HCL Technologies makes Shiv Nadar claim the 41th slot in the list of world’s richest persons. 4. Radhakishan Damani &amp; Family - $ 22.1 billion Radhakishan Damani’s net worth of $22.1 billion, which makes him the fourth richest person in India today. He occupies the 101 position in the global rich list. Radhakishan Damani is a veteran Mumbai stock market investor who founded <a href="https://www.businessinsider.in/business/news/radhakishan-damani-has-a-string-of-challenges-ahead-of-him-and-falling-profits-at-dmart-dont-help/articleshow/76936913.cms">the supermarket chain DMart </a>which went public in 2017, and eventually went on to be the world’s most-valued retail chain for its unique model that makes the holding company Avenue Supermarts more profitable than many of its peers. 5. Savitri Jindal &amp; Family - $18.6 billion Standing at the 106th position in the world and the richest woman in India is Savitri Jindal, the 70-year-old chair of a multibillion dollar conglomerate, who's worth $18.6 billion. India's women billionaires also include the heads of pharmaceutical, software, and consumer goods companies. 6. Cyrus Poonawalla - $18.2 billion Ranked as the 6th wealthiest person in India, Cyrus Poonawalla has a net worth of $18.2 billion. He founded the Serum Institute of India in 1966 and it is today the largest producer of vaccines for measles, influenza and polio. At present, the company is also co-developing two vaccines for COVID-19 and has a <a href="https://www.businessinsider.in/science/health/news/adar-poomawala-says-oxfords-covid-vaccine-is-expected-to-hit-the-indian-market-in-the-first-quarter-of-2021/articleshow/77107541.cms">significant lead over other similar researches that are underway</a>. In the world’s wealthiest persons list he ranks in the 110th position. 7. Lakshmi Mittal - $ 17.6 billion The Chairman and CEO of ArcelorMittal, Sunil Mittal has a net worth of $17.6 billion and ranks as the Seventh richest person in India. His wealth status positions him in the 115 place on the world’s richest persons list. He is known for turning sick steel producing companies into profitable ventures across the world. He most recently bagged the bankrupt Essar Steel in India, which was owned by the Ruia family. 8. Kumar Birla - $16.1 billion Standing at the 131th position in the world’s richest persons’ list, Kumar Birla has a net worth of $16.1 billion, which makes him the Eighth wealthiest person in India. The head of Aditya Birla Group which he inherits for the fourth generation in row, his group is concerned with producing cement and aluminum alongside retail, telecom and financial services. 9. Uday Kotak - $16.1 billion The founder of Kotak Mahindra Bank, Uday Kotak, occupies the fifth position on the list of India’s richest. With a net worth of $16.1 billion, Kotak takes 132nd place on the world’s richest persons’ list. 10. Dilip Shanghvi - $14.4 billion The tenth richest person in India is Dilip Shanghvi whose latest net worth is $14.4 billion. The founder of Sun Pharma, Dilip Shanghvi has turned his firm into the largest player in the manufacturing of specialty generic drugs. He has also invested in energy and oil ventures. On the world’s richest persons’ list, he ranks in the 146th position. See Also - <a href="https://www.businessinsider.in/business/news/top-10-richest-people-in-the-world/articleshow/74415117.cms">Top 10 richest people in the world</a> <a href="https://www.businessinsider.in/top-10-largest-economies-in-the-world/articleshow/70547252.cms">Top 10 largest economies in the world</a> <a href="https://www.businessinsider.in/finance/news/list-of-top-20-richest-people-in-the-world/articleshow/74475220.cms">Top 20 richest people in the world</a>

Meet the top 10 richest person in India

<ul><li>Reliance Industries’ chairman Mukesh Ambani has topped the Hurun rich list for the eight time in a row. </li><li>Mukesh Ambani is worth as much as ₹380,700 crore. </li><li>He is also worth more than the country’s second and third richest --SP Hinduja family and <keyword id="6419840" type="PERSON" weightage="20" keywordseo="Azim-Premji">Azim Premji</keyword>, respectively. </li></ul>Mukesh Ambani, chairman of Reliance Industries, is worth as much as ₹380,700 crore. Not only does that make him the richest man in India, he is also worth more than the country’s second and third richest who are --SP Hinduja family and Azim Premji, respectively. This is according to a new rich list compiled by Hurun Research Institute. Reliance Industries’ chairman Mukesh Ambani has topped the Hurun rich list for the eight time in a row. The owners of oil-to-banking <keyword id="120582" type="COMPANY" weightage="20" keywordseo="Hinduja-Group">Hinduja group</keyword>, SP Hinduja and family control a wealth of ₹186,500 crore. A few months back, Hindujas were in the running to acquire Jet Airways, but the deal fell through. The third richest person is Azim Premji, the former chairman of technology major Wipro, is worth ₹117,100 crore. As many as 953 new names were added to the list, which has increased by 122 people from last year. Here are the top 10 richest people in India, according to the list. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">Rank </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">Name </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">Wealth (₹ crore) </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">Company </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">1 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">Mukesh Ambani </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">380,700 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">Reliance Industries </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">2 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">SP Hinduja &amp; family </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">186,500 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">Hinduja </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">3 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">Azim Premji </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">117,100 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">Wipro </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">4 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">LN Mittal &amp; family </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">107,300 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">ArcelorMittal </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">5 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">Gautam Adani &amp; family </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">94,500 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">Adani Ports &amp; SEZ </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">6 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">Uday Kotak </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">94,100 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">Kotak Mahindra Bank </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">7 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">Cyrus S Poonawalla </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">88,800 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">Serum Institute of India </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">8 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">Cyrus Pallonji Mistry </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">76,800 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">Shapoorji Pallonji </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">8 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">Shapoor Pallonji Mistry </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">76,800 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">Shapoorji Pallonji </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">10 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">Dilip Shanghvi </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">71,500 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 2pt 0pt 2pt;">Sun Pharmaceutical Industries </td></tr></tbody></table> See also: 
 <div type="Article" hostid="261" msid="71296007" title="How does Mukesh Ambani – India’s richest man – and his family spend their US$50 billion fortune?" mstype="2" mssubtype="0"></div>

Mukesh Ambani is richer than the Hindujas and Azim Premji put together

​The country's economy faced a 'tough year' due to the government's disruptive policies like the recent demonetisation drive, a global rich list report said on Tuesday. 
 
According to the Hurun Global Rich List India, the demonetisation drive which started on November 8, 2016 eroded the wealth of 11 individuals to below the threshold limit of $1 billion. 
 
The report featured 132 Indian-origin billionnaires with a wealth of $1 bilion or more. 
 
"India had a tough year because of disruptive government policies such as demonetisation drive," said Anas Rahman Junaid, Managing Director and Chief Researcher, Hurun Report India. 
 
"However, on a long term perspective, we do believe that such transparent currency economics will have a positive impact for the entrepreneurs." 
 The list ranked <keyword id="6355199" type="CITY" weightage="20" keywordseo="Reliance-Industries">Reliance Industries</keyword> Chairman <keyword id="3820" type="PERSON" weightage="100" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>, 59 as the richest Indian. Ambani topped the list of 132 individuals with a fortune of Rs 175,400 crore ($26 billion). 
 
"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," the report said. 
 "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 <keyword id="15492" type="CITY" weightage="20" keywordseo="Vodafone">Vodafone</keyword> to survive the competition." 
 
Besides, with a net worth of Rs 101,000 crore ($14 billion), S.P. Hinduja and family, the business tycoon and the primary shareholder and Chairman of Hinduja Group was ranked as the second richest. 
 Hinduja was followed by the Founder of Sun Pharmaceuticals <keyword id="207035" type="PERSON" weightage="20" keywordseo="Dilip-Shanghvi">Dilip Shanghvi</keyword>, 60. 
 "India's richest pharma magnate and the founder of <keyword id="44642" type="CITY" weightage="20" keywordseo="Sun-Pharma">Sun Pharma</keyword>ceuticals, drops to 3rd position because of a 22 per cent decline in his wealth of Rs 99,000 crore ($14bn), fuelled by 18 per cent drop of Sun Pharma shares," the report cited. 
 Indian construction tycoon <keyword id="6689214" type="PERSON" weightage="20" keywordseo="Pallonji-Mistry">Pallonji Mistry</keyword>, 86, came at the fourth position with a fortune of Rs 82,700 crore ($12 billion) equalling the entire market capitalisation of <keyword id="42747" type="CITY" weightage="20" keywordseo="Tata-Motors">Tata Motors</keyword>, one of India's largest automaker. 
 
"Cyrus Mistry's removal as the Chairman of Tata Sons' has cast a shadow on the ties between the two families and hence the dispute has affected value of his 18 per cent stake in Tata Sons," the report observed.

11 Billionaires hit hard by demonetisation, Mukesh Ambani still the richest

New Delhi, Jan 15 () Industry body Indian Pharmaceutical Alliance (IPA) on Wednesday said there was no discussion on 'uniform code for pharmaceutical marketing practices' in the meeting convened by Prime Minister Narendra Modi with the healthcare industry on January 1.
 The meeting was called to discuss future road map for growth of the healthcare industry, the IPA said in a statement.
 The focus of the discussion was to promote research and development, build innovation ecosystem, improve access to high-quality medicine and strengthen global competitiveness of the industry, it added.
 The purpose was to take the industry to the next level and leverage opportunities going forward in the pharmaceutical sector besides discussing growth opportunities in the Medtech and hospital sector, IPA said.
 "There was no discussion on uniform code for pharmaceutical marketing practices in the meeting," it added.
 The industry body was reacting to media reports that said the prime minister had warned India's top pharmaceutical companies to strictly adhere to marketing ethics, and not to bribe doctors with women, foreign trips and gadgets.
 The meeting was attended by leading figures such as Satish Reddy from Dr Reddy's, Ajay Piramal from Piramal Group, Pankaj Patel from Cadila Healthcare, Dilip Shanghvi from Sun Pharma, Dr Habil Khorakiwala from Wockhardt and Shobana Kamineni from Apollo Hospitals Group, the statement said. AKT HRS

No discussion on uniform code for pharmaceutical marketing practices in meeting with PM: IPA

New Delhi, Jan 15 () Industry body Indian Pharmaceutical Alliance (IPA) on Wednesday said there was no discussion on 'uniform code for pharmaceutical marketing practice' in the meeting convened by Prime Minister Narendra Modi with the healthcare industry on January 1.
 The meeting was called to discuss future road map for growth of the healthcare industry, the IPA said in a statement.
 The focus of the discussion was to promote research and development, build innovation ecosystem, improve access to high-quality medicine and strengthen global competitiveness of the industry, it added.
 The purpose was to take the industry to the next level and leverage opportunities going forward in the pharmaceutical sector besides discussing growth opportunities in the Medtech and hospital sector, IPA said.
 "There was no discussion on uniform code for pharmaceutical marketing practice in the meeting," it added.
 The industry body was reacting to media reports that said the prime minister had warned India's top pharmaceutical companies to strictly adhere to marketing ethics, and not to bribe doctors with women, foreign trips and gadgets.
 The meeting was attended by leading figures such as Satish Reddy from Dr Reddy's, Ajay Piramal from Piramal Group, Pankaj Patel from Cadila Healthcare, Dilip Shanghvi from Sun Pharma, Dr Habil Khorakiwala from Wockhardt and Shobana Kamineni from Apollo Hospitals Group, the statement said. AKT HRS

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Dilip Shanghvi, India’s richest man, could soon be building ships