339 INDIVIDUALS WITH 1,600 CR, UP 43 FROM LAST YEAR AND 250% FROM FIRST HURUN INDIA RICH LIST 5 YEARS AGO

WITH INR 1, 63,400 CR, MUKESH AMBANI IS NUMBER ONE IN INDIA FOR 5TH YEAR

MUMBAI, NEW DELHI AND BENGALURU MAKE UP 60%, ADDING 26, 10 AND 4

127 BILLIONAIRES, A NEW RECORD

PALLONJI MISTRY OF TATA ENTERS TOP 3 FOR FIRST TIME

VACCINE KING CYRUS POONAWALLA STORMS INTO TOP 5

55% ARE FIRST GENERATION ENTREPRENUERS, COMPARED TO 80% IN CHINA

10% HAVE MIGRATED FROM INDIA

37 PADMA AWARDEES CONTRIBUTE 28% OF WEALTH. PALLONJI MISTRY, INDU JAIN AND DILIP SHANGHVI AWARDED IN 2016, FIRST TIME SOMEONE FROM THE HURUN INDIA RICH LIST SINCE 2014.

ACHARYA BALAKRISHNA, 44, OF PATANJALI (‘INDIA’S ANSWER TO UNILEVER’) IS HIGHEST NEW FACE AT 26^TH WITH WEALTH OF INR 25,600 Cr

13 INDIVIDUALS MADE LIST AFTER GOING IPO IN LAST YEAR

Hurun Report India releases Hurun India Rich List 2016, presented by India’s leading jewellery brand, Joyalukkas –“World’s Favorite Jeweler”

·       Hurun Report finds 339 individuals with INR1,600 Cr or more, up 44 from last year and double that of two years ago

·       The average wealth dropped 7% Year on Year, owing to a lackluster performance of key sectors such as Technology, Jewellery and Trading

·       Number of dollar billionaires has increased to127, up 2 from last year. The inaugural Hurun India Rich List in 2012 had 59 billionaires

·       33 have migrated from India and are NRI’s

·       With a cumulative networth of INR 10,318 Cr, the Turakhia brothers (aged 34 & 36) debut the Hurun India Rich List. Their advertising technology company media.net was acquired by Chinese consortium for almost US$1Bn

·       The ‘Usain Bolt’ of the Hurun India Rich List 2016: The fastest riser is Vijay Shekhar Sharma (38) of Paytm, a payment technology company. His wealth shot up by 162% to INR 7,300 Cr. 6 saw their wealth double YoY;

·       125 individuals saw their wealth decline, led by the Jewellery sector, which witnessed strikes because of regulatory duty hikes

·       With a fortune of INR 1, 63,400 Cr, Mukesh Ambani (59) of Reliance holds on to his position as the richest man in India.

·       Pune-based Cyrus Poonawalla (75) of Serum Institute rose to 5^th position, from 11^th last year, after seeing his wealth grow by 97% to INR 83,000 Cr

·       Whilst Mumbai continues to dominate with 30% of the list residing there, Delhi came in second with 19%, followed by Bengaluru with 8%

·       Pharmaceuticals dominate with 12% of the list, followed by FMCG and Chemicals & Petrochemicals with11% and 6% respectively

·       Only 55% are self-made, down by 1% from last year

·       Savitri Jindal (66), the richest woman in the list with the fortune of INR 35,000 Cr saw her wealth rise by 123%; This is backed by the stellar performance of JSW steel, which doubled in value over the past year

·       The combined wealth of India’s richest is a staggering US$482Bn, equating to 1/5thof India’s GDP last year and larger than the GDPs of UAE ($325Bn), South Africa ($266Bn) &Singapore ($294Bn)

·       Leading Authority on India’s private wealth, Hurun Report launches the India Rich List for the fifth time

(Bengaluru, 7^th September, 2016): Today Hurun Report released the Hurun India Rich List 2016, a ranking of the richest people in India with a cut-off of INR 1,600 Cr. This is the fifth year of the list, which has become a benchmark for the private sector and has become widely accepted to be the most robust attempt at covering entrepreneurship in India. Wealth calculations are a snapshot of the net worth of living individuals as at 31 July 2016 when the rate of exchange to the US dollar was INR 66.69.

“Despite an above average monsoon and a steep 24% wage hike, India Inc. fails to cheer the market, resulting in a muted growth in average wealth for 2016. Subdued investors interest in e-commerce and online businesses declined valuations of ecommerce unicorns in 2016 as compared to 2015”, says Anas Rahman Junaid, Hurun Report India, Managing Director and Chief Researcher.

Mukesh Ambani (59) running the oil to yarn conglomerate ranked first in the list for the fifth consecutive year. He recently launched Jio and has "declared war" with rest of the telecom operators through aggressive market entry strategy. His strategy of reaching 90% of India's population has the potential of placing him at the top 3 in Hurun Global Rich List. Recently, his wife Nita Ambani became the first Indian woman member of International Olympic Committee.

With a net worth of INR 1, 21,500 Cr, Dilip Shanghvi (60) of Sun Pharma retains his second position. On May 2016 Dilip Shanghvi withdraws plans to form a payments bank jointly with the Indian financial firm IDFC Bank and an arm of Norway's Telenor. The Government of India awarded him the Padma Shri, fourth largest civilian honor in 2016.

The man who constructed iconic RBI HQ and Bombay Stock Exchange in Mumbai, Pallonji Mistry (87) nicknamed 'Phantom of Bombay House' is on the third position with a net worth of INR 1, 10,100 Cr. The government of India bestowed him with Padma Bhushan third highest civilian award in 2016. Mistry’s primary source of wealth remains his 18.4% stake in Tata Sons, the holding company for the US$130 Bn Tata Group. Backed by the stellar performance of the group, he rose to top 3 for the first time, from 5^th last year.

SP Hinduja & family aggregated their wealth at INR 1, 00,700 Cr. The Hindujas lost their “bronze medal” to Pallonji Mistry. The automobile-to-financial services conglomerate plans to expand business in automotive, oil, chemicals, trading and infrastructure sectors across Africa by investing US$1 Bn in next five years.

Table 1: Hurun India Rich List 2016 – Top 10

↑ Rank increase yoy ↓ Rank decrease yoy - No Rank change yoy * New to Top 10

Source: Hurun Research Institute. For more details visit www.hurun.net

Cyrus S Poonawalla (72) world's largest manufacturer of vaccines deriving 82% revenue from overseas market witnessed a 97% jump wealth backed by industry leading net profit margin 55% compared to the industry average margin. In November 2015 Poonawalla group announced “Poonawalla Clean City Movement” first of its kind in the country to spend INR 100 Cr to turning Pune into one of the cleanest cities in the country.

Azim Premji (71) also known as the Czar of the Indian IT Industry completed 50 years of leading Wipro. Mr. Premji who was 21 years old then, joined Wipro on 1966 as chairman after returning from Stanford University transformed an enterprise focused on vegetable oil business to an IT company in 1981. He wrote a single cheque of US$150Mn for investment into Ranjan Pai’s MEMG, the highest individual investment amount.

Shiv Nadar (71) lost INR 21,000 Cr in 2016 and slipped to 7^th rank with a net worth of INR 73,000 Cr from 4^th rank in 2015. According to a leading Indian financial daily, his flagship company HCL lost at least US$1.5 Bn worth of contracts last year. This could be due to the trend of clients shifting towards cloud computing.

Steel baron Lakshmi Niwas Mittal (66) faced a meltdown of INR 16,300 Cr of his wealth due to the steel crisis, but it is still every fifth car uses the steel manufactured by Mittal’s company. ArcelorMittal reported a net loss of US$7.9 Bn in 2015 mostly because of a US$4.8 Bn write-down on iron ore mining business and a US$1.3 Bn charge on inventory due to the global steel price plunge.

Uday Kotak (57) climbed to 9^th rank 2016 backed by the 9% increase in the share price Kotak Mahindra Bank in which he holds 33.7% stake. Kotak Mahindra Bank acquired a 20% stake in Airtel M-Commerce Services, a subsidiary of Bharti Airtel holding a payments bank license.

Sunil Mittal & Family – Sunil Mittal (58), is the founder of Bharti Enterprises, which has interests ranging from telecommunications and retail to financial services and solar power step down to 10^th rank owing to 13% decline in the flagship company Bharti Airtel’s share price. Rising competition form Reliance Jio Bharti Airtel invested more than US$4 Bn in 2015 into network improvements and plan to invest US$9 Bn over three years.

Mumbai Top again

With 104 individuals, Mumbai is the capital for India’s super-rich, followed by New Delhi (65) and Bengaluru (28)

Table 2: Geographical spread of Hurun India Rich List 2016

↑ Rank increase yoy ↓ Rank decrease yoy - No Rank change yoy * New to Top 8

Source: Hurun Research Institute. For more details visit www.hurun.net

Richest migrants

UAE & UK are the capitals for NRIs. 33 are based outside India, led by SP Hinduja & Family (Hinduja Group, London), followed by LN Mittal (ArcelorMittal, London), Yusuffali MA (Emke Group, Abu Dhabi), Micky Jagtiani (Landmark Group, Dubai), Anil Agarwal (Vedanta Resources, London) and Romesh T Wadhwani (Symphony Technology, Palo Alto)

Table 3: Hurun India Rich List 2016 – Richest Non-Resident Indians

Source: Hurun Research Institute. For more details visit www.hurun.net

Pharmaceutical sector rules

The fastest wealth growing sector is transportation which grew by 65% followed by Construction materials and Retailing. The huge growth in transportation sector is supported by IPOs of airlines and logistics companies. Pharma has produced 12% of entries in the Hurun India Rich List 2016, followed by FMCG and Chemicals & Petrochemicals. Other industries that have had a good year include Financial Services and Textiles.

Table 4: Hurun India Rich List 2016 – Industry breakdown

↑ Rank increase yoy ↓ Rank decrease yoy - No Rank change yoy * New to Top 10

Source: Hurun Research Institute. For more details visit www.hurun.net

Top Gainers

The biggest gain registered was a 162% increase by Vijay Shekhar Sharma (38), the founder of Paytm. Rakesh Gangwal, “the king of blue skies”, boosted his networth to INR 15,900 Cr, supported by the post IPO performance of Indigo Airlines. Paytm was one of the first Indian investments of Alibaba last year.

Table 5: Hurun India Rich List 2016 – Biggest Gainers

Source: Hurun Research Institute. For more details visit www.hurun.net

All the young entrepreneurs under 40 in Hurun India Rich List 2016 are active in their respective business

• At 61, the average      age is same as that of last year; with 11 under 40

• The youngest      person on the list is Bhavish      Aggarwal (30), co-founder of Olacabs

• The oldest is Murli Kewalram Chanrai, 93, of      Kewalram Chanrai

Table 6: Hurun India Rich List 2016 – Entrants under 40

Source: Hurun Research Institute. For more details visit www.hurun.net

Only 4% women

Men dominate, with just 4% women occupying a place in the list. The only self-made women entrepreneur is Bengaluru-based Kiran Mazumdar-Shaw (63) of Biocon, with a networth of INR 10,800 Cr.

Savitri Jindal (66), is the richest woman with a personal fortune pegged at INR 35,000 Cr and bags the 18^th position in the Hurun India Rich List 2016. Her flagship company JSW Steel, run by her sons had a good year last year, owing to backward integration; this resulted in doubling share price of JSW. She is the only politically affiliated women in Hurun India Rich List 2016. She is followed by Indu Jain (79) at INR 28, 000 Cr.

Table 7: Hurun India Rich List 2016 – Richest Women in India

Source: Hurun Research Institute. For more details visit www.hurun.net

The IPO millionaires

The companies of 13 individuals went public this year. 10 New IPO’s hits Indian bourses of which 7 IPOs contributed 8 members to this year list. Healthcare contributes three names to IPO millionaire’s in 2016.

Table 8: Hurun India Rich List 2016 – Latest IPO’s

Source: Hurun Research Institute. For more details visit www.hurun.net

Entrepreneurs appreciated by the government of India

37 are Padma awardees, of which four are women. Three individuals were awarded in the last year, led by Pallonji Mistry, Indu Jain and Dilip Shanghvi, the first time someone from the Hurun India Rich List was awarded since 2014.

There is no one in Hurun India Rich List 2016 who has received the highest civilian award, “Bharat Ratna”. 5 individuals hold either of the two awards. For instance Kiran Mazumdar Shaw of Biocon and Devi Prasad Shetty of Narayana Hrudayalaya holds both Padma Shri and Padma Bhushan. Pratap reddy of Apollo Hospitals and Ratan Tata of Tata Sons holds both Padma Vibhushan and Padma Bhushan.

Table 9: Hurun India Rich List 2016 – Padma awardees

Source: Hurun Research Institute. For more details visit www.hurun.net

Table 9.1: Hurun India Rich List 2016 – Padma awardee details

Source: Hurun Research Institute. For more details visit www.hurun.net

Largest public traded companies

Of the publicly traded companies on the list, Mukesh Ambani’s Reliance has the highest valuation of INR 3,19,700 Cr (contributing 5.35% to the NIFTY index), followed by Infosys with INR 2,46,600 Cr and Sun Pharmaceutical INR 1,99,500 Cr. Followed by Tata Motors & Kotak Mahindra with market cap of INR 1,45,200 and INR 139,800 Cr respectively.

Table 10: Hurun India Rich List 2016 - Self-Made Degree 

Source: Hurun Research Institute. For more details visit www.hurun.net

Hurun Report continued its Self-Made Scorecard, measuring the degree to which billionaires are inherited or self-made. The scorecard is out of five, where 1 is inherited and not active in business, and 5 is self-made without help from parents.

Self-made with a little help from parents was the most common route to becoming a billionaire, featuring 51% of the list.  Second was self-made without help from parents, making up 9% of the list. Third was inheriting a business and growing it into a much bigger entity, with 38% and only one person was Self-Made Degree 1.

Industry analysis

The industries that added the most number of new millionaires to the list were pharmaceuticals, FMCG, financial service, chemicals and engineering & construction.

For a snapshot of the industry that added most number of new entries, refer the table below.

Table 11: Industry producing most number of new entrants

Source: Hurun Research Institute. For more details visit www.hurun.net

Pharmaceuticals

With an astounding figure of 21 Billionaires and 18 other individual mentions in the list, pharma sector has registered the highest contribution to the list. In 2016, the sector witnessed a 17% growth in cumulative wealth compared to 2015. The number of individuals doubled. Although the growth in cumulative wealth is substantially driven by the performance of private players, it should be noted that the listed players fared poorly. For instance, in 2015 the listed players registered a 66% average growth in share price compared to 9% in 2016. The vaccine icon Cyrus S Poonawalla of Serum Institute of India elevated his position by 6 ranks and is now comfortably placed in Top 5.

FMCG

In 2016 when most sectors failed to keep up the momentum, FMCG registered a decent growth of 14% in terms of the cumulative wealth. Yoga Acharya’s Patanjali took the market by storm and is eating away market share of other multinational FMCG’s. Patanjali registered a turnover of INR 5,000 Cr and expects to hit INR 10,000 Cr in 2017.

Chemicals & Petrochemicals

21 individuals derived their wealth from the Chemicals & Petrochemicals sector. 6 new entrants are in the list. This sector saw its wealth increase on an average of 18% compared to that of last year. Gurbachan Singh & Kuldip Singh Dhingra, Berger Paints, saw their wealth grow by 53%during the period 2015-16. Devendra Kumar Jain (87), of Gujarat Flourochemicals is the oldest billionaire from this sector.

Consumer Durables

Baked by increased disposable income and technological innovations, the entrepreneurs in consumer durable industry showed a positive trend with decent 5% growth in average wealth. The sector produced 3 new entrants to the list. As per studies, the consumer durables market is expected to expand at a compounded annual growth rate of 14.8% and Hurun Research Institute expects significant wealth creation in the near future.

Financial Service

Financial Services added 6 new faces into the list. The sector is topped by Uday Kotak (age 57, networth INR 51,600 Cr) followed by Sameer Gehlaut (age 42, INR 10,400 Cr). The Muthoot Finance produced most number of individuals from the financial services in Hurun India Rich List 2016.

Stock Markets Performance

Bombay Stock Exchange (BSE) Sensex went down by 0.2% from 28,114 on July 31, 2015to 28,051 on July 31, 2016. For the year under review, BSE Mid Cap (12.3%) and BSE Small Cap Index (3.23%) outperformed the benchmark index. Sensex failed to outperform Global indices S&P 500 (3.3%) and DJIA (4.2%). At a sectorial level, Healthcare and IT underperformed among the sectorial indices. All the others performed with at least 10% return – the biggest gainer was metals with a 36.26% return year to date. Currently, Indian stock market seems to be trading at an attractive valuation 19.6x compared to last year’s 20.2x.

This year’s Hurun India Rich List reveals some interesting nuggets of information

·       Promoters of Essar Oil Limited completed largest privatisation in Indian corporate history with delisting of Essar Oil Limited at a market valuation of INR 38,000 Cr (USD 5.7 Bn)

·       MEMG, the flagship company of Ranjan Pai holds the record of highest number of successful exit rounds in Indian companies. MEMG has given 11 exit rounds for its investors

·       With a strong performance backed by JSW steel, the richest women in the Hurun India Rich List has doubled her wealth (123%) when other steel companies under performed.

·       125 individuals saw their networth fall

·       This year Hurun India Rich List added 6 new billionaires to the list

·       11% of the list are Padma awardees

·       Kiran Mazumdar Shaw of Biocon is the only woman in Hurun India Rich List 2016 to receive both Padmasri and Padmabhushan

·       Clocking a turnover of YoY growth of 12% in domestic sales, Joyalukkas Group had a good year in 2016 in India. The main source of revenue is from Joy Alukkas India Pvt. Ltd and Joy Alukkas Holdings, which are two separate companies 100% owned by Mr Joy Alukkas. His wealth went up by 14% this year

Wealth and Philanthropy

·       Azim Premji, who secured sixth rank in India Rich List is the number one in Hurun India Philanthropy List 2015.

·       Mukesh Ambani, Pallonji Mistry, Azim Premji and Shiv Nadar – top 10 in Hurun India Rich List 2016, also finds a place in top 10 of Hurun India Philanthropy List 2015.

·       Led by Mukesh Ambani, five Indians feature in top 100 of Hurun Global Rich List 2015. India’s richest person is ranked 21 in Hurun Global Rich List 2015

Table 12: Obituary – Hurun Indian Rich List 2016

Source: The Hurun Research Institute 2016

Brijmohan Lall Mujals wealth inherited by his three sons equally as per the family settlement agreement. For Pralhad P Chhabria and MAM Ramaswamy wealth inherited by sons Prakash P Chhabria and MAMR Muthiah respectively.
Stats: Record Highs

·       Cut-off to make the list was INR 1600 Cr, with a record high of 339 individuals, up from 296 last year and 235 the year before.

·       The number of dollar billionaires has jumped to a record high too, with 127 individuals, up 1 from last year.

Table 13: Table analyzing cut off and number of entrepreneurs in Hurun India Rich List

Source: The Hurun Research Institute 2016

Cut-off (in INR Cr)

Table 14: Table analyses the cut-off required for Top 10, 50 and 100

Source: The Hurun Research Institute 2016

Table 15: Companies that produced the highest number of individuals on the list

GRL 2015

The Hurun Global Rich List 2015 ranked 2189 billionaires from 68 countries, up 222 from last year, in a record-breaking year for the world’s billionaires. 649 saw their wealth increase and there were 341 new faces. 230 remained unchanged. 869 individuals saw their wealth decrease. 95 dropped out of last year’s list. The Russian Rouble collapse, brought about by a stagnating Russian economy, sanctions due to Ukrainian conflict and cheaper oil price by the OPEC, has been the cause for 60% of Russian billionaires to see their wealth drop, led by Vladimir Yevtushenkov and Vagit Alekperov of Lukoil whose wealth fell by 77% and 73% respectively. Although the list expanded by 222 individuals, the total wealth dropped by 1.5% to US$6.7 trillion, still more than the GDP of Japan and South Korea combined.

Methodology

The Hurun India Rich List is a snapshot of wealth as on 31 July 2016. The exchange rate used for US$ was INR 66.7.  The list relates to Indians only, defined as born or brought up in India origin their passport today.

Valuing the wealth of India’s richest is as much an art as it is a science.  Sure, we have missed some, but we believe the Hurun India Rich List to be the most serious attempt to identify India’s top entrepreneurs and to measure their holdings.  Our team of researchers has - for the fifth year running - traveled the length and breadth of the country cross-checking information with entrepreneurs, industry experts, journalists, bankers, and regulators, as well as previous years’ databases. For non-listed companies our valuation was based on a comparison with their listed equivalents using prevailing industry multiples such as Price to Earnings, Price to Sales, EV to Sales, EV to EBITDA and also other methodologies including Discounted Cash Flow, Tobin’s Q and so on. In certain cases of early stage companies, we have used First Chicago Method for valuation.

This year, we have split out siblings, so companies like Muthoot Finance have been split across four individuals.

For details on other India based publication please refer the following links

Hurun India Rich Lists

http://hurun.net/EN/HuList.aspx?nid=1033

Hurun India Philanthropy List

2015 http://www.hurun.net/en/ArticleShow.aspx?nid=15701

2014 http://www.hurun.net/EN/ArticleShow.aspx?nid=9583

2013 - http://www.hurun.net/en/ArticleShow.aspx?nid=213

Hurun India Rich List 2016 -- Top 100

* Wealth reduced due to ownership split

About Hurun Report Inc.  

since 1999

Established as a research unit in 1999, Hurun Report Inc. has grown into a leading media group targeted at China and India high net worth individuals. Its flagship is the Hurun China Rich List and, since 2012, the Hurun Global Rich List. Headquartered in Shanghai, Hurun Report has offices in Beijing, Guangzhou, Chengdu, Sanya, London, Los Angeles, Chicago and Cochin, Kerala, India.

Hurun Report Inc has four divisions.

Hurun Research (‘Nobody Knows China’s Rich Better’) has grown to become the world’s leading authority when it comes to understanding the Chinese high net worth individual. Recent reports include partnering with some of China’s most important financial institutions, local government, multinationals and luxury brands, including Bank of China, Taikang Life, Minsheng Bank, Minsheng Financial Leasing, Industrial Bank of China and the Changbaishan government.

Hurun Media (‘The Voice of Chinese Entrepreneurship’) reaches between one and two million unique viewers a week through its digital platform and a further 485,000 a month through its print media. Digital media is made up of 7 Wechat social media, an online business talk show called MaShangHu, distributed through iQiyi, CBN and Ningxia Satellite, and Hurun.net. Our flagship Wechat media is Hurun Business, with others including Hurun Education, Hurun Art, Hurun Horse & Sports, Hurun Health, Hurun Property and Hurun English.

Hurun Conferences and Training hosts over 100 events across China every year, led by its flagships in Beijing and Shanghai every year.  Hurun Conferences and Training brings Chinese entrepreneurs aboard, to the US, London, Singapore, Australia and India.

Hurun Investments includes a CNY 100m early-stage venture capital fund, and strategic investments in media, education, classic cars, financial services and luxury.

For further information, see www.hurun.net

HURUN REPORT INDIA

Hurun Report Inc established its India business in 2012, which today is best-known for the Hurun India Rich List, Hurun India Philanthropy List and for hosting events with some of India’s most respected entrepreneurs.

The Hurun India Rich List has grown to become the authority in identifying India’s most successful entrepreneurs. The Hurun Philanthropy List is the only publication that captures the reported philanthropic/ CSR donation of more than INR 10 Cr.

Hurun Report India's mission is to foster and promote India entrepreneurship and build a business bridge between India and China entrepreneurs. Hurun Report is committed to celebrating entrepreneurship and playing a pivotal role in connecting 2.7 billion people from India and China.

In September 2016, Hurun Report is facilitating a conference in Shanghai and Beijing where India's union ministers, select state chief ministers are meeting with Indian and Chinese entrepreneurs from the Hurun India Rich List and Hurun China Rich List.

For the full details, please refer to on www.hurun.net.

For media enquiries, please contact

Akshita Madan

Associate

Mobile: +91 9847587766

Email: india@hurun.net

About Joyalukkas Group

Joyalukkas Jewelers is part of the Joyalukkas Group, a multi-billion-dollar conglomerate with presence across the India, GCC, UK, USA, Malaysia, & Singapore. Its interests include fashion retail, money exchange, real estate, malls and luxury air charters.

Note from Joy Alukkas, CMD JoyAlukkas Group

“The Hurun India Rich List celebrates the world’s most successful Indian entrepreneurs and a great guide to how each of them have made their mark in business. There are many stories of Indian businessmen in the list that can be a wonderful inspiration for all. As an entrepreneur myself, I believe, behind every success story there is a series of ups and downs towards achieving the phenomenal glory. I myself started with a single jewellery showroom , yet today brand 'Joyalukkas' is recognised around the world for more than just jewellery, we are now a global conglomerate and have ventured into Fashion & Silks, Malls, Money Exchange, Luxury Air Charter & Realty. A big congratulations to all the Indian entrepreneurs who made it to the Hurun's India Rich List and big thank you to Hurun for this wonderful initiative to celebrate our accomplishments.