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Mukesh Ambani becomes first Indian to enter top 10 richest billionaire list

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Mukesh Ambani, Top 10 richest billionaire, Reliance Industries Chairman, RIL Chairman, Hurun Research, Global Rich List 2019, Reliance Jio, Business news

Mumbai: Reliance Industries Chairman and Managing Director Mukesh Ambani has become the first Indian to enter the global top 10 richest billionaire list compiled by Hurun Research.

According to the Hurun Global Rich List 2019 released on Tuesday, Ambani broke into the top 10 in the world for the first time after a $9 billion or 20 per cent surge in his wealth to $54 billion.

“The only Asian in the Top 10, Ambani’s wealth is based on telecom, retail and energy, and bucked the poor stock market trend in India last year,” Hurun Research said in a statement.

“Ambani’s flagship Reliance Jio Infocomm announced the launch of international roaming between India and Japan, a first for India’s 4G mobile operators to provide VoLTE-based international roaming services in India.”

As per the statement, the company expanded its investment in the entertainment sector with acquisitions worth $700 million in Hathway and Den.

 

RIL Chairman Mukesh Ambani first Indian to join top 10 richest list globally:

 

“In December, Ambani made world headlines with the high-profile wedding of his daughter Isha, 27, and topped the Hurun India Philanthropy List 2018.

According to the Hurun Global Rich List 2019, India has 104 billionaires. Last year, the country had added 32 billionaires, but this year it lost 28.

“India drops to 5th spot with 104 billionaires, 28 less than last year. With $54 billion, Mukesh Ambani, 61, of Reliance is the richest person in India,” the report said.

“Pharmaceuticals, TMT and FMCG led the way, with 18, 15 and 10 billionaires each. Mumbai and New Delhi are the billionaire capitals of the country with 42 and 25 finding residence there.

“The average age was 62, 2 less than the average of the total list. Total wealth is $347 billion. Indian billionaires lost one-fourth of their wealth amounting to $107 billion; 28 lost their billionaire status owing to 10 per cent depreciation of the rupee and below average performance of the capital market,” Hurun Research said.

 

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For Operation Of Passenger Train Services,Ministry of Railway Invites Private Participation.

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The Ministry of Railways has issued a notification inviting Request for Qualifications (RFQ) for private participation for operation of passenger train services over 109 Origin Destination(OD) pairs of routes through introduction of 151 modern Trains (Rakes).

It has been stated by the Ministry that the 109 OD Pairs have been formed into 12 Clusters across the Indian Railway network. Each Train shall have a minimum of 16 coaches.

Majority of the trains will be manufactured in India while the project would entail private sector investment of about Rs 30,000 crore and the private entity will be responsible for financing, procuring, operation and maintenance of the trains.

Trains shall be designed for a maximum speed of 160 kmph which will make it faster than the fastest train of Indian Railways operating in the respective route.

Being the first initiative of private investment for running Passenger Trains over Indian Railways network, the objective of this initiative is to introduce modern technology rolling stock with reduced maintenance, reduced transit time, boost job creation, provide enhanced safety, provide world class travel experience to passengers, and also reduce demand supply deficit in the passenger transportation sector.

The Concession Period for the project shall be 35 years.

These trains shall be operated by the Driver and Guard of Indian Railways. Further Operation and maintenance of the passenger trains would be governed by standards and specifications and requirements specified by Indian Railways.

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