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Mukesh Ambani tops in Hurun India Rich list 2020,Let’s see other 10 billionaires.

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The Hurun India list is a compilation of the richest individuals in the country having a wealth of Rs 1,000 crore or more as on August 31, 2020. In the 2020 edition, the list has 828 Indians.

“The IIFL Wealth Hurun India Rich List is a barometer of the Indian economy, helping us understand which industries have gone up, innovated or gone down. The stories of these entrepreneurs tell the stories of India’s modern businesses,” Anas Rahman Junaid, MD and Chief Researcher, Hurun India, said commenting on the launch.

Reliance Industries MD and chairman Mukesh Ambani continues to be the richest Indian for the ninth consecutive year on Hurun India Rich List 2020 with Rs 6,58,400 crore of personal wealth. Ambani is the only Indian to feature in the top 5 in the global rich list. Mukesh Ambani’s total wealth has surged by 73 per cent in past one year, making him Aisa’s richest individual and fourth richest man in the world.

London-based Hinduja brothers (SP Hinduja, along with his three brothers) with a joint wealth of Rs 1,43,700 crore bagged the second position on the Hurun India Rich List 2020, followed by HCL founder Shiv Nadar, who ranked third with a wealth of Rs 1,41,700 crore. While Gautam Adani and family bagged fourth spot and Wipro NSE 0.83 %’s Azim Premji at the fifth spot.

Radhakishan Damani, the founder of Avenue Supermarts, debuted in the top 10 wealthiest individuals and bagged the seventh rank in the Hurun India Rich List 2020.

Other named in the top 10 list included Other names in the Top 10 list included Cyrus S Poonawalla of Serum Institute of India, Uday Kotak of Kotak Mahindra Bank, Dilip Shanghvi of Sun Pharma and Cyrus Pallonji Mistry and Shapoorji Pallonji Mistry of Shapoorji Pallonji Group.

While 26-year-old Ritesh Agarwal of Oyo Rooms is the youngest person on the list with a wealth of Rs 4,500 crore and Dharam Pal Gulati (96) of MDH is the oldest on the list with a wealth of Rs 5,400 crore.

Nearly 5 per cent of the list (40 individuals) is comprised of women. 10 out of these 40 women are self-made. The richest woman in the list is Smita V Crishna, 69, of Godrej with Rs 32,400 crore, followed by Kiran Mazumdar-Shaw, 67, of Biocon with a wealth of Rs 31,600 crore also the richest self-made woman in India. The average age of women on the list is 61 years.

Here’re the top 10 billionaires in India, according to Hurun Rich List 2020

1: Mukesh Ambani

  • Wealth: ₹6,58,400 crore
  • Wealth change since 2019: 73%
  • Company: Reliance Industries

2: Hinduja Brothers

  • Wealth: ₹1,43,700 crore
  • Wealth change since 2019: -23%
  • Company: Hinduja

3: Shiv Nadar & family 

  • Wealth: ₹1,41,700 crore
  • Wealth change since 2019: 34%
  • Company: HCL

4: Gautam Adani & family

  • Wealth: ₹1,40,200 crore
  • Wealth change since 2019: 48%
  • Company: Adani

5: Azim Premji & family

  • Wealth: ₹1,14,400 crore
  • Wealth change since 2019: -2%
  • Company: Wipro

6: Cyrus S Poonawalla

  • Wealth: ₹94,300 crore
  • Wealth change since 2019: 6%
  • Company: Serum Institute of India

7: Radhakishan Damani & family

  • Wealth: ₹87,200 crore
  • Wealth change since 2019: 56%
  • Company: Avenue Supermarts

8: Uday Kotak

  • Wealth:₹87,000 crore
  • Wealth change since 2019: -8%
  • Company: Kotak Mahindra Bank

9: Dilip Shanghvi

  • Wealth: ₹84,000 crore
  • Wealth change since 2019: 17%
  • Company: Sun Pharmaceutical Industries

10: Cyrus Pallonji Mistry

  • Wealth: ₹70,000 crore
  • Wealth change since 2019: -9%
  • Company: Shapoorji Pallonji

Business

Report say’s: Tata Group invest Rs 5,000 crore for Apple component manufacture Plant.

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Apple has started manufacturing its mobile phones in India. The Tata group will invest Rs 5,000 crore to set up a spare parts project for Apple at an industrial complex in Hosur, Tamil Nadu. Although the Tata group and Tamil Nadu Govt have not yet confirmed this report, But sources said that the project will produce the necessary spare parts for Apple. 

The Tata Group will invest Rs 5,000 crore to create a facility that will manufacture components for iPhone-maker Apple. Tata Electronics, a new entity, was allotted 500 acres by TIDCO (Tamil Nadu Industrial Development Corporation) for the manufacturing plant at the industrial complex in Hosur, Business Line reported.

Tata Group’s investment in the facility might be hiked later, based on the level of sourcing, to as much as Rs 8,000 crore, the report said.

Neither the Tata Group nor the Tamil Nadu government confirmed the development as per the report.

Titan Engineering and Automation (TEAL), a unit of Titan, will provide the expertise for setting up the production facility, the report said.

According to the report, the Bhoomi Pujan of the facility was held on October 27.

The manufacturing plant will have 18,000 employees by October 2021, of which 90 percent will be women, the report added.

Apple’s contract manufacturer Foxconn already assembles the iPhone 11 at a plant in Sriperumbudur, Tamil Nadu.

The report stated that there was competition between states for the facility, with Tamil Nadu beating Karnataka to bag the project.

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