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<ul><li><keyword id="111343" type="General" weightage="20" keywordseo="Gautam-Adani" source="Orion">Gautam Adani</keyword> is ranked 4th in the world with a total net worth of $125 billion.</li><li>Adani is followed by Mukesh Ambani at number 10 with a net worth of $83.6 billion.</li><li>The next rank from India is number 45 for <keyword id="6419840" type="General" weightage="20" keywordseo="Azim-Premji" source="Orion">Azim Premji</keyword> of Wipro with a net worth of $ 24.6 billion.</li></ul> The double As - Gautam Adani and Mukesh Ambani - dominate the India rich list with the gap between them the rest of India Inc being a very large one. There was a time when <keyword id="232460" type="General" weightage="20" keywordseo="Tata-and-Birla" source="Orion">Tata and Birla</keyword> were synonyms for India's rich. Every region had its own wealthy like the Shrirams, Thapars, Nandas, and Modis in the north or the Bangurs in the east or the Mafatlals, Walchands, Kirloskars, Khataus, Sarabhais and Lalbhais in the west and the M.A. Chidambaram group in the south. Over time, many groups have floundered and fallen on bad times. There are many defining moments in this journey which saw a debilitating impact on family industrial groups. The year 1964 was a turning point because this was when the Monopolies and Restrictive Trade Practices Commission was established. By that year, the MRTP Commission had finished collecting and sifting information on Indian big business and hence reliable data was available. The next interesting inflection point came in 1991, when the P.V. Narasimha Rao administration introduced the New Economic Policy. This is where it all changed - India's most radical policy document in the form of the New Industrial Policy - the Licence Permit Raj was scrapped on 24 July 1991. Democratic socialism had been consigned to the rubbish heap of history - Licence Raj, which was in place for four decades, came to an end with the new industrial policy announced by Finance Minister Manmohan Singh and Prime Minister P.V. Narsimha Rao, who also held the portfolio of Industries Minister. The New Industrial Policy proposed getting rid of Monopolies and Restrictive Trade Practices and abolishing industrial licensing for all but 18 industries. Foreign equity holdings were proposed to be raised by 51 per cent in a project. Indian industry was free of controls and bureaucracy like never before. Over the last 30 years, India Inc had been turned on its head. As per the Bloomberg Billionaires Index now, Gautam Adani is ranked 4th in the world with a total net worth of $125 billion. Adani is followed by Mukesh Ambani at number 10 with a net worth of $83.6 billion. However, after Adani and Ambani the gap widens by a large extent and is then taken up by the software czars. The next rank from India is number 45 for Azim Premji of Wipro with a net worth of $ 24.6 billion. Shiv Nadar of HCL Technologies is at number 51 on the index with a net worth of $22.8 billion. The representation from India is then only at number 101 with Dilip Shanghvi with a net worth of $14.9 billion followed by Cyrus Poonawalla at 102 with $14.8 billion. Lakhsmi Mittal is at 103 with a net worth of $14.7 billion. Uday Kotak is ranked 106 with a net worth of $13.7 billion. Savitri Jindal is ranked at 119 on the Bloomberg Billionaires Index with a net worth of $12.9 billion. Sunil Mittal is ranked at 134 with a net worth of $12.2 billion. Kumar Birla is at 159 with a net worth of $10.8 billion. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/over-2-49-crore-unaccounted-cash-seized-in-hyderabad/articleshow/94750636.cms">Over ₹2.49 crore unaccounted cash seized in Hyderabad</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/telecom-sector-to-ring-in-stability-in-q2-jio-and-airtel-expected-to-grow-stronger-vi-weaker/articleshow/94709309.cms">Telecom sector to ring in stability in Q2 – Jio and Airtel expected to grow stronger, Vi weaker</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/this-giant-swing-in-manali-runs-on-ai/articleshow/94741834.cms">This giant swing in Manali runs on AI</a>

Gautam Adani and Mukesh Ambani - dominate the India rich list with the gap between them the rest of India Inc being a very large one

<ul><li>The 74-year old is the 12th richest person in India with a networth of $9.5 billion. </li><li>According to Forbes, he multiplied his net worth nearly five times in a decade. But his company Serum Institute of India (SII) is known for its affordable vaccines. </li><li>The affordable vaccine strategy has struck the right cord of the company as its annual revenues are at ₹59 billion ($840 million).</li></ul>The story of <keyword id="29334" type="PERSON" weightage="20" keywordseo="Cyrus-Poonawalla">Cyrus Poonawalla</keyword> and how he became a billionaire cuts through luxury cars, horses and vaccines. The 74-year old <a href="https://www.forbes.com/profile/cyrus-poonawalla/">is the 12th richest person in India</a> with a networth of $9.5 billion. According to Forbes, he multiplied his net worth nearly five times in a decade. But his company Serum Institute of India (SII) is known for its affordable vaccines. He founded the Serum Institute of India in 1966, with a capital of $12,000. His idea was to develop vaccines by extracting serum from horses. SII became the world’s largest vaccine maker by of doses produced and sells 1.5 billion doses globally. <div type="Slideshow" msid="72139267" hostid="261" title="Cyrus Poonawalla, India’s vaccine king, multiplied his wealth nearly 5 times in a decade" firstImageMsid="72139269" slideCount="4"></div>

Cyrus Poonawalla, India’s vaccine king, multiplied his wealth nearly 5 times in a decade

<ul><li>Half of the billionaires, including Mukesh Ambani, Radhakishan Damani, Gautam Adani, Cyrus Poonawalla, saw significant gains in their wealth. </li><li>The biggest percentage gainer was 67-year old Kiran Mazumdar-Shaw, Biocon founder and the second richest woman in India. </li><li>While Biocon has joined the race to discover the vaccine, Shaw was not immune to COVID-19. She tested positive in August and recovered in a fortnight. </li></ul>India’s super-rich club of 100 people has added nine new faces and about $88 billion collectively during the coronavirus pandemic — which is assumed to be far worse than the Great Depression. Half of the billionaires, including Mukesh Ambani, Radhakishan Damani, Gautam Adani, Cyrus Poonawalla saw significant gains — taking the collective net worth of 100 billionaires to $517.5 billion, <a href="https://www.forbes.com/sites/naazneenkarmali/2020/10/07/indias-100-richest-2020-collective-net-worth-of-countrys-richest-rose-14-despite-pandemic/#2cf4d5e93da4">Forbes reported. </a> The biggest percentage gainer was 67-year old Kiran Mazumdar-Shaw, Biocon founder and the second richest woman in India. Her wealth has nearly doubled from $2.38 billion in 2019 to $4.6 billion in 2020 — a whopping 93.28% gain among India's 100 richest. She is one of the only five women billionaires in India. <keyword id="55796" type="PERSON" weightage="20" keywordseo="Kiran-Mazumdar-Shaw">Kiran Mazumdar Shaw</keyword> started her Indian-based pharma company about 42 years ago with merely two employees and $500 funds. However, it was not until 2014 that her company became a publicly-traded entity. It touched the $1billion mark on the very day it listed. Over the past decade, Biocon has grown by leaps and bounds to become a $5 billion company. In just the last 12 months, Biocon’s share price has surged 99% from ₹233 in October 2019 to ₹464.70 currently. <div type="image" title="Biocon11" msid="78569590" hostid="261"></div> While her company has joined the race to discover a vaccine to fight the virus, Shaw wasn’t immune to it. On August 16, she tested positive for COVID-19 and recovered 15 days later. Shaw has been vocal about leveraging science to contain the virus. Three months after coronavirus broke out in India, Biocon announced that it would launch biologic drug Itolizumab for the treatment of moderate to severe COVID-19 patients at a price of around ₹8,000 per vial. The pharmaceutical is set to begin the phase-4 trials of the potential drug. Well, Shaw might have gained the most, but Mukesh Ambani’s record gains have left everyone behind. He remains India’s richest man for the 13th year in the running and leads by a large margin. Ambani added $37.3 billion to his fortune, thanks to the trail of investments in Reliance Jio and his retail venture. Jio alone got $20 billion investments from investors like Google, Facebook, and Microsoft. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/tcs-beats-accenture-to-become-the-worlds-most-valuable-it-services-company/articleshow/78566487.cms">TCS beats Accenture to become the world’s most valuable IT services company — but this not the first time it has raced ahead</a>

India’s second richest woman nearly doubles her wealth to $4.6 billion during the COVID-19 pandemic

In 2020, there were only four Indians in the global top 100 rich list, now there are seven

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

US-based biotechnology company <keyword id="323030" type="COMPANY" weightage="20" keywordseo="Novavax">Novavax</keyword>'s protein-based vaccine has shown overall 90 per cent efficacy against Covid-19, results of Phase-3 trials have shown. The vaccine NVX-CoV2373 is already being locally manufactured by the company's <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword> partner Pune-based <keyword id="95879" type="COMPANY" weightage="20" keywordseo="Serum-Institute-of-India">Serum Institute of India</keyword> (SII) under the brand name Covovax. In the US-based Phase-3 trials, NVX-CoV2373 also demonstrated 100 per cent protection against moderate and severe disease. "Today, Novavax is one step closer to addressing the critical and persistent global public health need for additional Covid-19 vaccines. These clinical results reinforce that NVX-CoV2373 is extremely effective and offers complete protection against both moderate and severe Covid-19 infection," said Stanley C Erck, President and Chief Executive Officer, Novavax, in a statement. "Novavax continues to work with a sense of urgency to complete our regulatory submissions and deliver this vaccine, built on a well understood and proven platform, to a world that is still in great need of vaccines," Erck added. In August 2020, Novavax and SII announced an agreement under which the US biotechnology company had given SII the licence to manufacture and supply the vaccine in low- and middle-income countries. In March 2021, CEO <keyword id="383467" type="PERSON" weightage="20" keywordseo="Adar-Poonawalla">Adar Poonawalla</keyword> said Covovax will be launched by September this year. "Covovax trials finally begin in India; the vaccine is made through a partnership with Novavax and Serum Institute of India," said Adar Poonawalla. "Hope to launch by September 2021!" the CEO of the world's biggest Covid-19 vaccine maker said. The US-based Phase-3 trials began in December 2020 and enrolled 29,960 participants across 119 sites in the US and Mexico to evaluate efficacy, safety and immunogenicity, with an emphasis on recruiting a representative population of communities and demographic groups most impacted by the disease. The study "confirms that NVX-CoV2373 offers a reassuring tolerability and safety profile", said Gregory M Glenn, MD, President of Research and Development, Novavax. The company will file for regulatory authorisations in the third quarter. After receiving the approvals, Novavax will reach a manufacturing capacity of 100 million doses per month by the end of the third quarter and 150 million doses per month by the end of the fourth quarter of 2021, the statement said. NVX-CoV2373 was created using Novavax' recombinant nanoparticle technology to generate antigen derived from the coronavirus spike (S) protein and is formulated with Matrix-M adjuvant to enhance the immune response and stimulate high levels of neutralising antibodies. It contains purified protein antigen and can neither replicate, nor can it cause Covid-19. The vaccine can be stored at 2 to 8 degrees Celsius, allowing the use of existing vaccine supply chain channels for its distribution. It is packaged in a ready-to-use liquid formulation in 10-dose vials. The two-shot vaccine is also being evaluated in Phase 3 trials in the UK that demonstrated efficacy of 96.4 per cent against the original virus strain, 86.3 per cent against the B117 (Alpha) variant and 89.7 per cent overall. It is also being tested in two ongoing Phase 2 studies that began in August 2020: A Phase 2b trial in South Africa that demonstrated 55 per cent efficacy overall in HIV-negative participants and 48.6 per cent efficacy against the B1351 (Beta) variant, and a Phase 1/2 study in the US and Australia. The company is also conducting trials in adolescents between ages 12 and 18. SEE ALSO <a target="_blank" class="c-link" href="https://www.businessinsider.in/stock-market/news/adani-group-under-sebi-scanner-on-market-manipulation/articleshow/83501698.cms">Gautam Adani loses over $7 billion in net worth after questions over the meteoric rise in group stocks</a> <a target="_blank" class="c-link" href="https://www.businessinsider.in/stock-market/news/adani-group-pnb-coal-india-tcs-and-other-stocks-to-watch-out-for-on-june-14/slidelist/83499937.cms">Adani group, PNB, Coal India, TCS and other stocks to watch out for on June 14</a> <a target="_blank" class="c-link" href="https://www.businessinsider.in/cryptocurrency/news/weekly-crypto-roundup-wazirx-under-scrutiny-el-salvador-makes-bitcoin-legal-tender-and-more/slidelist/83478577.cms">Weekly crypto roundup: WazirX under scrutiny, El Salvador makes Bitcoin legal tender and more</a>

US-based biotechnology company Novavax’s COVID-19 shot is 90% effective

<keyword id="7706673" type="General" weightage="20" keywordseo="finance-minister-nirmala-sitharaman" source="Orion">Finance Minister Nirmala Sitharaman</keyword> on Friday asked the Indian industry to be prepared against "tariff walls" which are likely to be imposed by nations undertaking green transitions, on <keyword id="162090" type="General" weightage="20" keywordseo="indian-exports" source="Orion">Indian exports</keyword>, especially steel products. "Many nations want to fund their <keyword id="8445756" type="General" weightage="20" keywordseo="green-transition" source="Orion">green transition</keyword> and are imposing tariff walls on products from other nations. If we export steel to such places, it is likely to face this tariff wall or tax for green transition. Indian industry needs to reset itself accordingly," she said while addressing the industry body FICCI's annual general meeting (AGM). Sitharaman further noted that with many European nations looking to relocate to other countries for setting up manufacturing facilities, out of China, India should look to make use of this opportunity and present itself as a viable manufacturing hub for Europe. She urged the industry to prepare strategies for bringing manufacturers to India. The minister said that during the tenure of India's G20 presidency, Government would showcase the country as a destination to go for, to investors from G20 nations, especially for manufacturing. Stating that India continues to remain a resilient economy amid fluid geopolitical situation, Sitharaman quoted World Economic Forum's data, saying that by 2030, there would be 140 million middle income households and 14 million high net worth households in the country. This, she highlighted, shows the scale of India's growth in the future. In this context, the focus of the industry should be on widening the technological growth, making use of the robust framework provided by the Government, the finance minister suggested. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/wipro-zee-entertainment-ril-among-stocks-to-watch-out-today/articleshow/96269120.cms" style="">Indian markets open in the red amid weak global cues – Wipro, Zee Entertainment, RIL among stocks to watch out for</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/tpg-to-acquire-adar-poonawalla-led-groups-housing-finance-arm-at-3900-crore-valuation/articleshow/96256578.cms" style="">TPG to acquire Adar Poonawalla-led group’s housing finance arm at ₹3,900 crore valuation</a>

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Gautam Adani and Mukesh Ambani - dominate the India rich list with the gap between them the rest of India Inc being a very large one

IANS

Cyrus Poonawalla, India’s vaccine king, multiplied his wealth nearly 5 times in a decade

Preeti Soni

India’s second richest woman nearly doubles her wealth to $4.6 billion during the COVID-19 pandemic

Preeti Soni

In 2020, there were only four Indians in the global top 100 rich list, now there are seven

Kritti Bhalla

Meet the top 10 richest person in India

BI India Bureau

US-based biotechnology company Novavax’s COVID-19 shot is 90% effective

IANS

Be prepared for export tariff walls by nations undergoing green transition: FM Nirmala Sitharaman

IANS

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