The 11 richest Indians in Forbes list

The current turbulence in Indian economy notwithstanding, Mukesh Ambani has retained his position as the world's richest Indian for the fifth year in a row as per global business magazine Forbes' annual ranking of 100 wealthiest Indians, released on Thursday.

His networth, however, declined by $1.6 billion to $21 billion.

To know more about the 11 richest Indians, read on. . .

Rank 1: Mukesh Ambani
Net worth: $21billion

Mukesh Dhirubhai Ambani is the chairman and CEO of Reliance Industries Limited.

The company was ranked 99 in Fortune Global 500 and is India's most valuable company by market value and second-largest Indian company by turnover.

Ambani remains the largest individual shareholder, with 44.7 per cent stake in RIL.

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L N Mittal: Rank 2
Net worth: $16 billion

Owner of ArcelorMittal, this business tycoon owns 41 per cent of ArcelorMittal and holds a 34 per cent stake in the Queens Park Rangers FC football team.

In 2006, The Sunday Times named him 'Business Person of 2006', the Financial Times named him 'Person of the Year', and Time magazine named him 'International Newsmaker of the Year 2006'.

In 2007, Time magazine included him in their '100 most influential persons in the world'.

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Azim Premji: Rank 3
Net worth: $12.2 billion

Azim Hashim Premji is the chairman of Wipro Limited.

Premji owns 79 per cent of Wipro and also owns a private equity fund, PremjiInvest, which manages his $1 billion personal portfolio.

In 2000, he was voted among the 20 most powerful men in the world by Asiaweek.

He has twice been listed among the 100 most influential people by TIME Magazine, once in 2004 and more recently in 2011.

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Pallonji Shapoorji Mistry: Rank 4
Net worth: $9.8 billion

Pallonji Shapoorji Mistry is an Indian-born Irish construction tycoon and chairman of Shapoorji Pallonji Group.

With his 18.4 per cent stake in Tata Sons, he is the single largest shareholder in Tata Group.

He is also the chairman of the Shapoorji Pallonji Group through which he owns Shapoorji Pallonji Construction Limited, Forbes Textiles and Eureka Forbes.

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Dilip Shanghvi: Rank 5
Net worth: $9.2 billion

Dilip Shanghvi is the founder and managing director of Sun Pharmaceutical Industries Limited.

Sun Pharma was founded in 1982 and it is currently the fifth-largest drugmaker in India.

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Adi Godrej: Rank 6
Net worth: $9 billion

Adi Godrej is the managing director of the Godrej Group.

Godrej took the Godrej Group to great height during controlled economy era.

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Savitri Jindal: Rank 7
Net worth: $8.2 billion

She is the non-executive chair of O P Jindal Group who took over the reigns of the steel and power conglomerate founded by her late husband Om Prakash in 1952.

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Shashi & Ravi Ruia: Rank 8
Net worth: $8.1 billion

Ravikant Nand Kishore Ruia is the Vice-Chairman of Essar Group (founded in 1969 by Ruia and his brother Shashi Ruia).

The Essar Group is a multinational conglomerate and a leading player in the sectors of steel, oil & gas, power, communications, shipping, ports & logistics, projects and minerals.

In December 2011, Ruia was charged by India's Central Bureau of Investigation over alleged corruption involving the sale of India's 2G spectrum.

He was charged alongside two other exectives from the Essar Group.

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Srichand and Gopichand Hinduja: Rank 9
Net worth: $8 billion

The Hinduja Group is a global conglomerate company headquartered in London.

It was founded in 1914 by Parmanand Deepchand Hinduja, initially operating in Mumbai.

The group set up its first international operation in Iran in 1919.

The headquarters of the Group moved to Iran where it remained until 1979, when the Islamic Revolution forced it to move to Europe.

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Kumar Mangalam Birla: Rank 10
Net worth: $7.8 billion

He is the chairman of the Aditya Birla Group, one of the largest conglomerate corporations in India.

The groups is India's third largest business house.

He is also the Chancellor of the Birla Institute of Technology & Science.

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Anil Ambani: Rank 11
Net worth: $6 billion

Anil Dhirubhai Ambani is the chairman of Anil Dhirubhai Ambani Group.

The Ambani family is the richest family in India and one of the richest in the world.

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Pharma major Wockhardt's Habil Khorakiwala, who rejoined the billionaire ranks, was this year's biggest percentage gainer with a net worth of $1.8 billion, while Gautam Adani was the biggest loser.

He lost more than half his fortune to $3.9 billion.

Some who dropped out altogether from the list have their fortunes tied to the power industry, which is plagued by fuel shortages.

That included L Madhusudan Rao of Lanco Infratech and BGR Energy's B G Raghupathy and Suzlon's Tulsi Tanti.

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According to Forbes, the youngest newcomer is 40-year-old Ranjan Pai, credited with turning his Manipal Group into a global brand in education. Pai bagged the 63rd position in the list with a networth of $975 million.

Besides, as many as five women figured in the list, including Savitri Jindal, Indu Jain, Anu Aga, Kiran Mazumdar Shaw and Shobna Bhartia, Forbes said.

The rise of 3.7 per cent in total wealth of India's richest follows a sharp fall of 20 per cent in the preceding year.

The sharp gain was mainly account of a slew of reform measures taken by the government in key sectors like retail, insurance and aviation.

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The BSE 30-stock index, Sensex, gained 10 per cent over the past 12 months, a rise partially eroded by a weakening rupee that fell by 8 per cent.

Mukesh Ambani, Lakshmi Mittal and Azim Premji retained their top three positions, while Essar Group's Shashi & Ravi Ruia slipped to eighth position from last year's fourth spot.

Shangvi, has moved up from last year's 11th to fifth this year and Mistry from ninth spot to fourth place.

Godrej has also moved up four position, while Anil Ambani, Kumar Mangalam Birla and DLF's KP Singh have slipped two positions each.

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The list is based on shareholding and financial information from the families and individuals, stock exchanges, analysts and India's regulatory agencies, the magazine said.

The ranking lists family fortunes, including those shared among extended families. Public fortunes are calculated based on stock prices and exchange rates as of October 12, while value of private companies are based on that of similar firms that are publicly traded, it added.