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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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 15,2025

Mangaluru, Dec 15: Air India Express has announced that it will resume direct flight services between Mangaluru and Muscat from March 2026, restoring an important international air link for passengers from the coastal region.

Airport authorities said the service will operate twice a week—on Sundays and Tuesdays—from March 1. The initial flights are scheduled on March 3, 8 and 10, followed by March 15 and 17, with the same operating pattern to continue thereafter. The flight duration is approximately three hours and 25 minutes.

The Mangaluru–Muscat route was earlier operated under the 2025 summer schedule, with services beginning on July 14. At that time, Air India Express had operated four flights a week before suspending the service.

Officials said the summer schedule will come into effect from March 29, after which changes in flight timings and departure schedules from Mangaluru are expected. Passengers have been advised to check the latest schedules while planning their travel.

The resumption of direct flights to Muscat is expected to significantly benefit expatriates, business travellers and others, further strengthening Mangaluru’s air connectivity with the Gulf region.

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News Network
December 22,2025

The Bharatiya Janata Party (BJP) received ₹6,654.93 crore in donations during the 2024-25 financial year — a Lok Sabha election year — registering a 68 per cent increase over the previous fiscal.

In its annual contribution report submitted to the Election Commission on December 8, two days ahead of the deadline, the BJP disclosed all donations exceeding ₹20,000. The report, now available on the Commission’s website, covers contributions received between April 1, 2024 and March 30, 2025 — a period marked by the general election and Assembly polls in Arunachal Pradesh, Sikkim, Andhra Pradesh, Odisha, Jammu and Kashmir, Haryana, Jharkhand, Maharashtra and Delhi.

The BJP, the world’s largest political party by membership, had reported donations of ₹3,967 crore in 2023-24. The latest figures represent the party’s highest donation receipts in the last five years.

Electoral trusts accounted for around 40 per cent of the BJP’s total donations. The Prudent Electoral Trust contributed ₹2,180 crore, followed by the Progressive Electoral Trust with ₹757 crore and the New Democratic Electoral Trust with ₹150 crore. Contributions from other electoral trusts together amounted to ₹3,112.5 crore. The remaining funds came from corporate donors and individuals. Electoral trusts are entities set up by companies to channel donations to political parties.

Among major corporate contributors, Serum Institute of India donated ₹100 crore, Rungta Sons Private Limited ₹95 crore, Vedanta ₹67 crore, and Macrotech Developers (formerly Lodha Developers) ₹65 crore. Three Bajaj Group companies together contributed ₹65 crore, while Derive Investments donated ₹50 crore.

Other notable donors included Malabar Gold (₹10 crore), Kalyan Jewellers (₹15.1 crore), Hero Group (₹23.65 crore), Dilip Buildcon Group (₹29 crore), ITC Limited (₹35 crore), Wave Industries (₹5.25 crore) and Zerodha’s investment firm, promoted by Nikhil Kamath, which contributed ₹1.5 crore.

Several BJP leaders also made individual donations. Assam Chief Minister Himanta Biswa Sarma donated ₹3 lakh, Assam minister Pijush Hazarika ₹2.75 lakh, Union Education Minister Dharmendra Pradhan ₹1 lakh, Odisha Chief Minister Mohan Charan Majhi ₹5 lakh, Indore Mayor Pushyamitra Bhargava ₹1 lakh, and Akash Vijayvargiya, son of senior BJP leader Kailash Vijayvargiya, also donated ₹1 lakh, among others.

In contrast, most opposition parties reported a sharp decline in donations. The Congress received ₹522.13 crore in 2024-25, a fall of about 43 per cent from ₹1,129 crore in the previous year. The Trinamool Congress saw donations drop to ₹184.08 crore from ₹618.8 crore, while the Bharat Rashtra Samithi reported just ₹15.09 crore, down from ₹580 crore.

The Aam Aadmi Party, however, recorded an increase, collecting ₹39.2 crore compared to ₹22.1 crore last year. The Telugu Desam Party received ₹85.2 crore in donations, down from ₹274 crore, but also earned ₹102 crore through fees and subscriptions. The Biju Janata Dal reported ₹60 crore in donations, compared to ₹246 crore in the previous fiscal.

The 2024-25 financial year is also the first without electoral bonds, after the Supreme Court struck down the scheme as unconstitutional in February 2024. Since its introduction in 2018, the electoral bond scheme had enabled political parties to receive over ₹16,000 crore in anonymous donations, with the BJP receiving the largest share. 

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