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Source : Forbes 1

Two high-growth industries, technology and


pharmaceuticals, have created half of India's top 40
fortunes. Nineteen of the 40 richest started entirely from
scratch. While Mumbai is home to 40% of list members,
others hail from emerging hot spots like Bangalore and
Delhi. A minimum net worth of $305 million was needed to
make the cut for the list.

Eleven list members made their money in technology,


including six who were cofounders of software firm Infosys
Technologies. Another nine owe their fortunes to
pharmaceuticals. Several produce and sell generics
overseas--like Yusuf Hamied, who heads leading generics
producer Cipla. Biotech pioneer Kiran Mazumdar-Shaw is
the sole female on the list.

Source : Forbes 2
#1
Lakshmi Mittal

$11.2 billion / London


54. Married. 2 Children.

This steel titan is set to control the world's largest


steel company when his Ispat International and
LNM Holdings acquire International Steel.
Combined entity will be $30 billion (sales) Mittal
Steel, 88%-owned by Mittal himself.

Associated Companies: spat International


Source : Forbes 3
#2
Azim Premji

$10.0 billion / Bangalore


59. Married. 2 Children.

Owns 84% of $1.3 billion (sales) Wipro, India's


second-biggest InfoTech company. Riding
outsourcing wave. Recently traded his eight-year-
old Ford Escort for a new Toyota Corolla.

Associated Companies:Wipro
Source : Forbes 4
#3
Mukesh & Anil Ambani

$6.4 billion / Mumbai

Two years after the death of their father, Reliance group's founder
Dhirubhai Ambani, brothers are feuding: Older son Mukesh reportedly
wants control of the $22 billion (sales) diversified group. News of rift, which
became public in November, sent stock tumbling.

Associated Companies: Reliance Industries


Source : Forbes 5
#4
Kumar Mangalam Birla

$3.5 billion / Mumbai


37. Married. 3 Children.

Fourth-generation head of $6 billion (sales)


commodities conglomerate, with operations in
nine countries, including palm oil in Malaysia.
India's largest cement producer.

Associated Companies:Hindalco Industries


Source : Forbes 6
#5
Pallonji Mistry

$2.9 billion / Mumbai


75. Married. 4 Children.

Construction tycoon benefiting from 18.4% stake in


Tata Sons, holding company of Tata conglomerate.
Newly listed Tata Consultancy Services recently
worth $13 billion. Rarely seen in public

Source : Forbes 7
#6
Sunil Mittal

$2.6 billion / Delhi


47. Married. 3 Children.

His Bharti group, the country's largest GSM-based


cellular service provider, is benefiting from India's
booming middle class. New venture to export fruits
and vegetables with the Rothschild family.

Associated Companies:Bharti Tele-Ventures


Source : Forbes 8
#7
Shiv Nadar

$2.3 billion / Delhi


59. Married. 1 Children.

From modest beginnings in his garage, built and still


chairs $1.2 billion (revenues) HCL Group, a leading
InfoTech provider. Commutes between California and
Delhi.

Associated Companies: HCL Group


Source : Forbes 9
#8
Adi Godrej

$1.9 billion / Mumbai


62. Married. 3 Children

Third generation to head $1 billion (sales) Godrej


Group, whose businesses include soaps, hair
dyes, office furniture and mosquito repellent. One
of Mumbai's biggest landowners, has benefited
from rising real estate prices.

Associated Companies: Godrej


Source : Forbes 10
#9
Malvinder & Shivinder
Mohan Singh

$1.5 billion / Delhi

Two brothers inherited family's 33.5% stake in


leading pharmaceuticals firm Ranbaxy Laboratories
five years ago because of the premature death of
their dynamic father, Parvinder Singh. Older brother
Malvinder was recently named to its board, while
Shivinder looks after a subsidiary.
Associated Companies: Ranbaxy
Source : Forbes 11
#9
Dilip Shanghvi

$1.5 billion / Mumbai


49. Married. 2 Children.

With loan from his father started manufacturing


psychiatric drugs in 1983. His Sun Pharmaceuticals
has a stake in Caraco Pharmaceutical Labs, a U.S.
generic drug company.

Associated Companies: Sun Pharmaceuticals


Source : Forbes 12
#11
Anil Agarwal

$1.2 billion /
London/Mumbai
51. Married. 2 Children.

Turned small scrap metal business into metals and


mining company with copper, zinc and aluminum
assets. Listed his Vedanta Resources on the London
Stock Exchange last year, raising $825 million.

Source : Forbes 13
#12
Shashi & Ravi Ruia

$1.1 billion / Mumbai

Brothers turned modest inheritance into $4.4


billion (assets) Essar Group with interests in steel,
shipping, power, construction and telecom.
Dragged down by debt but now rebounding.

Associated Companies: Essar Group


Source : Forbes 14
#13
Om Prakash Jindal

$1.0 billion / Delhi


74. Married. 9 Children.

Founder of $3 billion (sales) Jindal Group,


started out trading steel pipes. Carved up steel
and-power conglomerate among four sons who
run their groups independently.

Associated Companies: Jindal Group


Source : Forbes 15
#14
Rahul Bajaj

$850 million / Pune


66. Married. 3 Children.

Since 1965 has run $1.1 billion (sales) Bajaj


Auto, flagship of Bajaj Group founded by his
grandfather, a confidante of Mahatma Gandhi.
Tensions with estranged brother Shishir
threaten to divide this fortune.

Associated Companies: Bajaj Group


Source : Forbes 16
#15
N R Narayana Murthy

$825 million / Bangalore


58. Married. 2 Children.

Son of a small-town schoolteacher, he and six


partners founded $1 billion (sales) Infosys
Technologies, now a leading software firm
benefiting from outsourcing boom. Remains
chairman.

Associated Companies: Infosys Technologies


Source : Forbes 17
#16
Subhash Chandra

$760 million / Mumbai


54. Married. 3 Children.

Former rice trader, launched Zee TV in 1992.Now


reaches 250 million viewers. At peak, worth $3
billion. Stock never recovered. After a parade of
professionals, entrusted operations to relatives.
Other interests: packaging, theme parks.

Associated Companies: Zee Network


Source : Forbes 18
#16
Yusuf Hamied

$760 million / Mumbai


68. Married.

Heads leading generics producer Cipla, founded


by his father in 1935.With brother, owns 41% of
company. Nicknamed "drug pirate" for knocking
off AIDS drugs and selling them at steep discount.
Runs free cancer hospital.

Associated Companies: Cipla Pharma.


Source : Forbes 19
#16
Brijmohan Lall Munjal

$760 million / Delhi


81. Married. 4 Children.

Started out making bicycle parts. Now his $2


billion (sales) Hero Group is world's biggest
bicycle producer; Honda's Indian partner for
motorcycles.

Associated Companies: Hero Group


Source : Forbes 20
#19
Habil Khorakiwala

$630 million / Mumbai


62. Married. 3 Children.

Has run Wockhardt, pharmaceutical offshoot of


family's retail group, since 1966. Over half of its
revenues come from selling cheap generics
overseas. Established U.S. subsidiary this year
and plans to seek U.S. listing. Owns a chain of
specialty hospitals.

Source : Forbes 21
#20
Vivek Burman

$600 million / Delhi


64. Married. 2 Children.

Chairman of 120-year-old Dabur, household


name in ayurvedic products ranging from hair
oils and fruit juices to cancer drugs. Founded by
his great-grandfather, a doctor who concocted
herbal cures for poor villagers.

Associated Companies: Dabur


Source : Forbes 22
#21
Nandan Nilekani

$570 million / Bangalore


49. Married. 2 Children

Infosys cofounder and chief executive.


Pushing for better governance in Bangalore.

Associated Companies: Infosys Technologies


Source : Forbes 23
#22
S Gopalakrishnan

$555 million / Bangalore


50. Married. 1 Child.

Infosys cofounder and chief operating officer.


Chairs Infosys Consulting, U.S.-based arm
launched this year.

Associated Companies: Infosys Technologies


Source : Forbes 24
#23
N S Raghavan

$550 million / Bangalore


59. Married. 2 Children.

Infosys cofounder, retired to pursue charity


work. Chairs entrepreneurial studies center and
founded nonprofit for the mentally challenged.

Associated Companies: Infosys Technologies


Source : Forbes 25
#24
Narendra Patni

$530 million / Boston/Mumbai


62. Married. 2 Children.

MIT graduate, cofounded Patni Computer Systems


with his two brothers in 1978. Still runs the group,
which went public last year and acquired California-
based outfit Cymbal Corp. in October. Fancies red
wine and BMWs.

Associated Companies: Patni Computer Systems


Source : Forbes 26
#24
Ajay Piramal

$530 million / Mumbai


49. Married. 2 Children.

Inherited fading textile empire at age 28.


Expanded into pharmaceuticals by acquiring local
operations of international drug companies pulling
out of India, creating flagship company Nicholas
Piramal. Opened Mumbai's first shopping mall.

Source : Forbes 27
#26
Vijay Mallya

$510 million / Bangalore


49. Married. 3 Children.

Liquor tycoon, controls and runs the UB Group,


India's largest spirits marketer. Launching Kingfisher
Airline, named after UB's bestselling beer. Owns
racehorses, vintage cars, private jets and yachts.

Associated Companies: UB Group


Source : Forbes 28
#26
Pankaj Patel

$510 million / Ahmedabad


53. Married. 2 Children.

Runs generic drug company Zydus


Cadila. His father and partner
cofounded Cadila 52 years ago. Two
families split in 1995. Has since been
growing through acquisitions.

Associated Companies: Zydus Cadila.


Source : Forbes 29
#28
Baba Kalyani

$500 million / Pune


55. Married. 1 Child.

Second generation to head $900 million (sales)


Kalyani group, whose Bharat Forge is Asia's largest
forging company. Makes auto parts and specialty
steels with, among others, Germany's Bosch.

Associated Companies: Kalyani Group.


Source : Forbes 30
#29
B Ramalinga Raju

$495 million / Hyderabad


49. Married. 2 Children.

Branched out from family construction business in


1987 to start a software shop. His NYSE listed
Satyam Computer is now one of India's top InfoTech
companies.

Associated Companies: Satyam Computers.


Source : Forbes 31
#30
Kiran Mazumdar-Shaw

$455 million / Bangalore


51. Married.

India's biotech pioneer, co-founded Biocon in


1978. Now India's richest woman, thanks to
group's March public offering. Husband John
Shaw has his own stake, worth $275 million.

Associated Companies: Bio Con.


Source : Forbes 32
#31
Karsanbhai Patel

$435 million / Ahmedabad


60. Married. 3 Children.

Onetime struggling chemist, started mixing


detergent in his backyard in 1969. Now his
Nirma brand is India's biggest, outselling
Unilever and Procter & Gamble. His two sons
run the business.

Associated Companies: Nirma.


Source : Forbes 33
#32
K Dinesh

$410 million / Bangalore


50. Married. 2 Children.

Infosys cofounder previously managed


projects in the U.S. Now heads several
departments, including human resources
and information systems.

Associated Companies: Infosys Technologies


Source : Forbes 34
#33
Uday Kotak

$380 million / Mumbai


45. Married. 2 Children.

Founded finance firm in 1985. A leading


investment banking firm, it recently renamed itself
Kotak Mahindra Bank and moved into commercial
banking. Has joint ventures with Goldman Sachs
and Ford Credit. He plays the sitar.

Associated Companies: Kotak.


Source : Forbes 35
#34
S D Shibulal

$370 million / Boston


49. Married. 2 Children.

Infosys cofounder. Heads


global customer delivery.
Started charity with wife to
help poor children.

Associated Companies: Infosys Technologies


Source : Forbes 36
#35
K Anji Reddy

$350 million / Hyderabad


63. Married.

A farmer's son, founded Dr. Reddy's Laboratories


in 1984. Now India's second-largest maker of
generic drugs. Runs company with son and son-in-
law.

Associated Companies: Dr. Reddys Laboratories


Source : Forbes 37
#35
Narotam Sekhsaria

$350 million / Mumbai


55. Married. 2 Children.

Former cotton trader Sekhsaria and brother-in-law


Suresh Neotia co-founded Gujarat Ambuja
Cements in 1986, one of India's biggest cement
producers.

Associated Companies: Gujarat Ambuja Cements


Source : Forbes 38
#37
Jaiprakash Gaur

$340 million / Delhi


73. Married. 5 Children.

Resigned from government job to start a


construction company in 1972. Now his $650
million (sales) Jaypee Group builds bridges,
expressways, dams, even golf course. Also has
interests in hotels, cement, education and
technology.

Associated Companies: Gaypee Group


Source : Forbes 39
#38
Shyam & Hari Bhartia

$315 million / Delhi

Brothers converted family's commodities business


into diversified group with interests in speciality
chemicals, pharmaceuticals, bioinformatics, oil and
gas and Domino's Pizza franchise. Shyam is
married to publishing heiress.

Source : Forbes 40
#38
Keshub Mahindra

$315 million / Mumbai


81. Married. 3 Children.

Chairman of Mahindra Group, founded by his


father and uncle. Its Mahindra & Mahindr is India's
largest tractormaker. Also has interests in hotels,
telecom, real estate, software and financial
services. Nephew Anand now in charge.

Associated Companies: Mahindra & Mahindra


Source : Forbes 41
#40
Desh Bandhu Gupta

$305 million / Mumbai


67. Married. 5 Children.

Former chemistry teacher, borrowed $120 from his


wife and bought tiny vitamin company, Lupin, in
1968. Now one of India's leading pharmaceuticals
and world leader in anti-tuberculosis drugs. Wife
Manju and daughter Vinita sit on board.

Associated Companies: Lupin pharmaceuticals


Source : Forbes 42