Mukesh Ambani emerges richest Indian for 11th consecutive year in Forbes list

Agencies
October 4, 2018

New Delhi, Oct 4: Reliance Industries' Chairman Mukesh Ambani has emerged as the richest Indian for the 11th consecutive year with a net worth of USD 47.3 billion, according to Forbes magazine.

Ambani is also the year's biggest gainer, adding USD 9.3 billion to his wealth amid the continuing success of his Reliance Jio broadband telco service.

As per the 'Forbes India Rich List 2018', Wipro Chairman Azim Premji has retained the second spot, adding USD 2 billion to his wealth at USD 21 billion; while ArcelorMittal Chairman and CEO Lakshmi Mittal moved a place ahead to the third slot with a net worth of USD 18.3 billion, increasing his wealth by USD 1.8 billion.

Mittal is followed by the Hinduja brothers at with a net worth of USD 18 billion and Pallonji Mistry with USD 15.7 billion.

Other business magnates making the top 10 list are Shiv Nadar (USD 14.6 billion), Godrej family (USD 14 billion), Dilip Shanghvi (USD 12.6 billion), Kumar Birla (USD 12.5 billion) and Gautam Adani (USD 11.9 billion).

"In a challenging year, which saw the rupee taking a tumble, the country's 100 richest collectively managed to hold their own. Moreover, new billionaires continue to be minted, which indicates that India's entrepreneurial energy is upbeat as ever," said Naazneen Karmali, India Editor of Forbes Asia.

Biotechnology pioneer Kiran Mazumdar-Shaw has emerged as the biggest percentage gainer of the year. One of only four women on the list, her net worth rose 66.7 per cent to USD 3.6 billion. In terms of net worth, she stood at 39th spot.

"Despite a rout in the rupee that practically wiped out the Indian stock market's 14 per cent rise from a year ago, tycoons on the 2018 Forbes India Rich List saw a modest gain in their combined wealth to USD 492 billion," a Forbes India statement said, adding that among the nation's 100 richest, 11 saw their wealth jump by USD 1 billion or more.

"The growth in the overall wealth of India's richest in a challenging year is one indicator of the country's economic advancement. New faces on the list - five of them - are also an encouraging sign of the rise of domestic mega-firms, many with a presence in global markets," Forbes India Editor Brian Carvalho said.

According to the statement, this list was compiled using shareholding and financial information obtained from the families and individuals, stock exchanges, analysts and India's regulatory agencies.

"Public fortunes were calculated based on stock prices and exchange rates as of September 21. Private companies were valued based on similar companies that are publicly traded," it said.

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ALTHAF MAHAMMED
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Thursday, 4 Oct 2018

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coastaldigest.com news network
December 20,2025

Mangaluru, Dec 20: City Police Commissioner Sudheer Kumar Reddy has issued a high-alert warning to vehicle owners regarding a surge in cyber fraud targeting those looking to pay traffic violation fines. Fraudsters are reportedly exploiting recent government discount schemes on traffic penalties to deceive citizens.

The Scam: How Fraudsters Strike

Criminals are using SMS, WhatsApp, and social media to circulate suspicious links and APK files (Android application packages). They claim these apps allow users to pay e-challans at a discount.

•    Device Hacking: Downloading these unauthorized apps gives hackers full access to the victim's smartphone.

•    Financial Theft: Once the phone is compromised, fraudsters intercept OTPs and personal data to drain bank accounts.

•    Phishing Sites: Fake websites mimicking official portals are also being used to harvest banking credentials.

Already, two residents within Mangaluru city limits have reported significant financial losses after falling victim to these fraudulent apps.

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News Network
December 22,2025

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Kolkata: Stressing that India is a "Hindu nation," Rashtriya Swayamsevak Sangh (RSS) Chief Mohan Bhagwat on Sunday said that no constitutional approval is needed as it is the "truth".

Addressing an event marking 100 years of the RSS, Bhagwat said that India is, and will remain, a Hindu nation until Indian culture is appreciated in the country.

"The Sun rises in the east; we don't know since when this has been happening. So, do we need constitutional approval for that, too? Hindustan is a Hindu nation. Whoever considers India their motherland appreciates Indian culture, as long as there is even one person alive on the land of Hindustan who believes in and cherishes the glory of Indian ancestors, India is a Hindu nation. This is the ideology of the Sangh," he said at the '100 Vyakhyan Mala' program of RSS in Kolkata.

"If Parliament ever decides to amend the Constitution and add that word, whether they do it or not, it's fine. We don't care about that word because we are Hindus, and our nation is a Hindu nation. That is the truth. The caste system based on birth is not the hallmark of Hindutva," he added.

RSS has always argued that India is a "Hindu Nation," given the culture and majority's affiliations to Hinduism. However, 'secular' was not originally part of the Preamble of the Constitution, but it was added along with the word 'socialist' by the Constitution (42nd Amendment) Act, 1976, during the Emergency imposed by then Prime Minister Indira Gandhi.

Bhagwat also urged people to visit the organisation's offices and 'shakhas' to understand its work, so that what he dubbed as the “false perception” of the organisation as anti-Muslim can be dispelled!

Bhagwat said that people have understood that the organisation advocates for the protection of Hindus, and are "staunch nationalists," but not anti-muslim.

"If there is a perception that we are anti-Muslim, then, as I said, the RSS work is transparent. You can come anytime and see for yourself, and if you see anything like that happening, then you keep your views, and if you don't see it, then you change your views. There is a lot to understand (about RSS), but if you don't want to understand, then no one can change your mind," Bhagwat said.

He said, but anyone unwilling to learn cannot be helped.

"After seeing, people have said that you are staunch nationalists. You organise Hindus, and you advocate for the protection of Hindus. But you are not anti-Muslim. Many people have accepted this, and those who want to know more should come and see the RSS for themselves," he said.

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News Network
December 22,2025

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Saudi Arabia has witnessed rare snowfall in several parts of the country, including the northern regions, where such an event has been reported for the first time in 30 years, leaving residents in awe. 

The white blanket of snow covered vast desert areas, from the Tuwaiq mountain range in the west to regions near Riyadh. The rare event has sparked excitement and disbelief among residents, who have shared videos and photos of the Gulf nation blanketed in white.

A video shared on X captured an unusual scene: a group of camels standing in a desert area covered in snow, with dark clouds looming overhead.

Snowfall transformed parts of the country into an unexpected winter playground. Another video showed adults enjoying the snow by skiing, celebrating, and capturing a scene rarely seen in the Kingdom.

Local TV channels have described the snowfall as historic, while many residents have expressed concerns over the cold conditions and icy roads. The National Meteorology Center (NCM) had earlier warned of a sharp drop in temperatures and urged the public to take safety precautions.

Additionally, the Trojena Highlands and parts of the Tabuk region experienced unusually low temperatures due to snow last week. Jabal Al-Lawz in Tabuk reported heavy snowfall on Wednesday, accompanied by thick fog and strong winds, according to the Saudi Gazette.

The NCM has forecast a high chance of snow in the Qassim region and northern parts of Riyadh on Thursday, as an intense weather system continues to affect large areas of the kingdom. Authorities have cautioned the public to exercise extreme care during the severe weather.

While snow in Saudi Arabia is rare, it is not unprecedented. Last February, the Trojena Mountains saw snowfall and sub-zero temperatures, and parts of Al-Jawf reportedly experienced snow for the first time.

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