India makes inroads in Forbes billionaire list

List is a "deceptive distraction," says Mukesh Ambani

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The Indian pack is led by Lakshmi N. Mittal, who heads the world's largest steelmaker ArcelorMittal. Mittal is fourth on the list with $45 billion. His company, ArcelorMittal, accounts for 10 percent of all crude steel production in the world.

Close on his heels is Mukesh Ambani with $43 billion. He heads petrochemicals giant Reliance Industries Ltd (RIL), India's most valuable company in terms of market capitalization.

His younger brother Anil Ambani, with $42 billion, is the world's sixth richest person, according to Forbes.

Both the brothers inherited their fortune from their late father, renowned industrialist Dhirubhai Ambani, before they parted ways.

Since last year, Anil Ambani's wealth has soared by $23.8 billion while elder brother Mukesh saw his wealth rise by $22.9 billion.

At No.8 is real estate tycoon, K.P. Singh, chairman of DLF Ltd., India's biggest real estate developer in terms of market capitalization. Forbes estimates his personal wealth at $30 billion.

In the case of Singh, Forbes noted, "the world's richest real estate baron moved an incredible 54 places to eighth place with his net worth trebling."

Last year, only Mittal made it to the top 10 on the annual survey of the world's billionaires by Forbes.

Other Indians, who feature among the 100 most richest people in the world, are Ravi and Sashi Ruia of India's Essar Group (ranked 43rd with $15 billion); Wipro chairman and founder Azim Premji (ranked 60th with $12.7 billion); Bharti Airtel's Sunil Mittal (ranked 64th with $11.8 billion); Kumar Mangalam Birla of the Aditya Birla Group (ranked 76th with $10.2 billion); Ramesh Chandra of real estate firm Unitech (ranked 86th with $9.6 billion); and newcomer Gautam Adani of London-based trading firm Adani Group (ranked 91st with $9.3 billion).

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