by Arun Prabhudesai 
The most surprising news in Forbes’s latest Global Billionaire list isn’t that Bill Gates has been toppled as the world’s richest man.
No, the biggest surprise is the rise of the Indian rich — four of the top eight billionaires in the world are from India. Topping the ranks is steel tycoon Lakshmi Mittal, whose worth Forbes puts at $45 billion. Next up are the Ambani brothers, Mukesh and Anil, with $43 billion and $42 billion respectively, largely from petrochemicals. Rounding out the list is KP Singh, the real-estate magnate, at $30 billion.
This is an encouraging sign for the Indian economy. It shows that a country long known for brutal poverty can now compete with the U.S. and others in creating personal wealth. The Merrill Lynch/Cap Gemini report says that India’s population of millionaires grew 20% last year, to about 100,000. That rate of growth was more than twice the growth of millionaires in the U.S.
March 7, 2008 Continue Reading → by Arun Prabhudesai Anil Ambani is firing all cylinders in the quest to become India’s largest group (and Richest Indian), the coveted place currently held by his elder brother Mukesh. Close to the heels of Reliance Power – a $2.8 billion mammoth IPO, Anil has already announced his intentions of going public with his entertainment division.
Now another big news has started making rounds. Anil Ambani run Reliance Communications is in talks with up-for-grabs French IT consulting firm Capgemini.
Times Online reports:
Capgemini, the French IT services group, has held early-stage talks with Reliance Communications, of India, that could result in the first acquisition of a significant Western IT house by one of India’s fast-growing competitors.
Reliance Communication’s interest confirms Mr Ambani’s hopes to build a significant IT business.
A move on Capgemini would give it access to a client base in continental Europe and catapult it among the world’s top ten IT groups by market share.
Mr Ambani, India’s second-richest man after his estranged brother Mukesh, has already suggested that he aims to be among the world’s five biggest video games developers.
February 15, 2008 Continue Reading → ![RichestIndians[1]](http://trak.in/wp-content/uploads/2010/03/RichestIndians1-150x150.jpg "RichestIndians[1]")
