Blitz Bureau
NEW DELHI: India’s billionaire count has increased to 308, up by 24 from last year, reflecting strong wealth creation and sustained economic momentum, according to the Hurun Global Rich List 2026 released on March 7.
The Business Standard reports that the new additions to the ranks pushed up India to third position globally in terms of the number of billionaires, behind only the United States and China. India added 57 new billionaires during the year, the highest number outside the two largest economies, but also saw 27 individuals drop out of the list.
Total wealth held by Indian billionaires rose 10 per cent year-on-year to ₹112.6 trillion, with 199 individuals recording an increase in their fortunes. Around 109 saw their wealth either decline or remain unchanged. Seven per cent of Indian billionaires were women.
Hurun Research Institute said India’s billionaire class continues to expand beyond traditional sectors, showing the broad base of economic growth.
Ambani tops India and Asia
Mukesh Ambani, chairman of Reliance Industries, retained his position as both India and Asia’s richest person, with a net worth of ₹9.8 trillion, marking a 9 per cent increase over the past year.
Gautam Adani, who heads the conglomerate Adani group, remained the second richest Indian despite a 14 per cent decline in wealth, which took his net worth down to ₹7.5 trillion.
Roshni Nadar Malhotra, chairperson of HCL Technologies, was third with a wealth of ₹3.2 trillion and remained the only woman among India’s 10 richest individuals.
Healthcare leads new billionaire creation
The healthcare sector produced the largest number of new billionaires, with 53 entrants on the list. Industrial products followed with 36 new names, while consumer goods accounted for 31 new billionaires.
Despite fewer entrants, the energy sector commanded the largest wealth concentration, generating ₹18.3 trillion from just eight billionaires, and accounting for about 16 per cent of India’s cumulative billionaire wealth.
Cyrus S Poonawalla, founder and chairman of Pune-based Serum Institute of India, emerged as India’s biggest wealth gainer in absolute terms, adding nearly ₹0.91 trillion during the year.
Mumbai remains biggest wealth hub
Mumbai continued to dominate India’s billionaire landscape with 95 billionaires, although it lost its status as Asia’s billionaire capital to Shenzhen, which now hosts 133 billionaires.
India’s financial capital also recorded 15 new entrants, surpassing New York’s 14 and London’s nine additions.
Across cities, New York topped the list globally with 146 billionaires, followed by Shanghai (120), Beijing (107), and London (102).
Oyo founder is India’s youngest billionaire
India’s cohort of billionaires remains relatively older, with an average age of 67, compared with the global average of 65.
The country’s youngest billionaire is Ritesh Agarwal, founder of Oyo, aged 32, with a net worth of ₹14,440 crore.
Meanwhile, 23 Indian women billionaires collectively hold a wealth of ₹9.8 trillion, highlighting the gradual rise of women entrepreneurs in the country’s wealth landscape.
The Hurun report noted that India’s expanding billionaire base reflects increasing entrepreneurial activity and growing global ambitions among Indian business leaders.