India, a country with a rapidly growing economy and a burgeoning middle class, has produced some of the wealthiest individuals in the world. These billionaires have amassed their fortunes through diverse industries such as technology, retail, pharmaceuticals, and energy. Here, we explore the top 10 richest people in India in 2024, highlighting their contributions to the economy and their business ventures.
1. Mukesh Ambani
Mukesh Ambani, the chairman and largest shareholder of Reliance Industries, continues to hold the top position as India’s richest person. Reliance Industries, a conglomerate with interests in petrochemicals, refining, oil, telecommunications, and retail, has seen significant growth under Ambani’s leadership. His strategic pivot to digital services through Jio Platforms has revolutionized the telecom sector in India, contributing substantially to his wealth.
2. Gautam Adani
Gautam Adani, the chairman and founder of the Adani Group, holds the second spot on the list. The Adani Group has diversified interests in energy, resources, logistics, agribusiness, real estate, financial services, and defense. Adani’s aggressive expansion into renewable energy and infrastructure projects has been a key driver of his rising wealth, making him a significant player in the global business landscape.
3. Shiv Nadar
Shiv Nadar, the founder of HCL Technologies, one of India’s leading IT services companies, remains a prominent figure in the tech industry. HCL has grown to become a global IT powerhouse under his guidance. Nadar’s philanthropic efforts, particularly in education through the Shiv Nadar Foundation, also highlight his commitment to societal development.
4. Radhakishan Damani
Radhakishan Damani, the founder of DMart, a chain of hypermarkets, continues to see his wealth grow thanks to the consistent performance of his retail empire. DMart’s efficient business model and strategic expansion have made it one of the most successful retail chains in India, securing Damani’s place among the country’s richest individuals.
5. Cyrus Poonawalla
Cyrus Poonawalla, the chairman of the Poonawalla Group, which includes the Serum Institute of India, the world’s largest vaccine manufacturer, has seen his fortune surge. The Serum Institute’s pivotal role in global vaccination efforts, particularly during the COVID-19 pandemic, has significantly boosted its revenues and Poonawalla’s net worth.
6. Lakshmi Mittal
Lakshmi Mittal, the chairman and CEO of ArcelorMittal, the world’s largest steel manufacturing company, remains a key figure in the global steel industry. Mittal’s strategic acquisitions and focus on sustainability and innovation have ensured continued growth for ArcelorMittal, solidifying his position among India’s wealthiest.
7. Savitri Jindal
Savitri Jindal, the matriarch of the Jindal Group, which has interests in steel, power, cement, and infrastructure, is one of the richest women in India. The group’s diversified portfolio and strong market presence have contributed to her considerable wealth, making her a significant player in India’s industrial sector.
8. Uday Kotak
Uday Kotak, the managing director and CEO of Kotak Mahindra Bank, has made significant strides in the banking and financial services sector. Kotak Mahindra Bank’s robust performance and strategic acquisitions have bolstered its position in the market, enhancing Kotak’s wealth and influence in the financial industry.
9. Kumar Mangalam Birla
Kumar Mangalam Birla, the chairman of the Aditya Birla Group, oversees a diverse conglomerate with interests in sectors such as cement, metals, textiles, carbon black, telecom, and financial services. Birla’s strategic leadership and focus on innovation and sustainability have driven the group’s success, securing his place among India’s richest.
10. Dilip Shanghvi
Dilip Shanghvi, the founder of Sun Pharmaceuticals, India’s largest pharmaceutical company, rounds out the top ten. Sun Pharma’s growth through strategic acquisitions and a strong portfolio of generic and specialty drugs has significantly increased Shanghvi’s wealth, making him a notable figure in the global pharmaceutical industry.
These individuals not only represent the pinnacle of wealth in India but also play a crucial role in driving the country’s economic growth and innovation. Their entrepreneurial spirit, strategic vision, and contributions to various industries have set them apart as leaders in their respective fields. As India continues to develop and expand its economic footprint, these billionaires will likely remain influential figures shaping the future of business and industry in the country.