Record number of billionaires in India's rich list

The ranks of Indian billionaires grew by a third in 2010, with the 100 richest holding wealth comparable to that held by the 400 richest in mainland China, Forbes India magazine said on Thursday.

The closely-watched annual list of India's richest, which saw a record number of 69 billionaires this year, undercores the concentration of wealth in a fast-growing economy where 40 percent of the 1.2 billion population is impoverished.

Mukesh Ambani, who controls conglomerate Reliance Industries, remained the richest Indian on the Forbes list with a fortune of $27 billion.

Shares in his firm have underperformed the market this year, leading to a 15 percent erosion in his wealth.

Image: Green is the colour of money! Mukesh Ambani, Chairman of Reliance Industries, holds a jar containing the first crude oil produced from their company's KG-D6 block in this 2008 file photo.

Text: Reuters

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