India's Billionaire Boom

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Is India rising from her condition as third world country to the forefront of leading nations? The details of the rankings of India's richest are being carried in The Billionaire Club magazine, which unveils that the membership of the Billionaire Club has touched 533 and their combined wealth stands at Rs 12.32 lakhs crore. India hits an all time high for producing 168 new billionaires, courtesy its booming stock markets. The top five contenders are worth over Rs 50,000 crore each.

India"s Lakshmi Mittal alone has a net worth of US.0 billion and is the richest person in the country. Mukesh Ambani who has a net worth of US.1 billion from his Reliance industries follows as one of the proud Indian billionaire. His brother Anil Ambani enters the Indian billionaire"s list with a net worth of US.2 billion from his Anil Dhirubhai Ambani Group. Wipro Technologies' Azim Premji and DLF Group"s Kushal Pal Singh share a net worth of US.1 billion and US.0 billion respectively.

While Lakshmi Mittal reigns the top position of Indian billionaires for the consecutive fourth year, Sunil Mittal and family enters the Indian billionaires group with a net worth of US.5 billion from their Bharati Telecom group. Close in run with him is Aditya Birla with a net worth of US.0 billion from the Aditya Birla Group. Latest reports indicate that many aspirant billionaires are on the raise in India.

Now, are these Indian billionaires are going to change the history of Indian and empower her as one of the First world countries? Let us wait and see the changes that can happen to the Indian financial scenario.