India's 25 richest people

Inflation, corruption scandals and falling stock and currency prices are denting the fortunes of India's richest.

According to the 2011 Forbes India Rich List, the combined wealth of India's 100 richest people is down 20 per cent from a year ago to $241 billion.

The combined wealth of India's 100 richest people is down 20 per cent from a year ago to $241 billion, according to the 2011 Forbes India Rich List.

This year's list also has a total of 57 billionaires. The top 10 richest are collectively worth $113.6 billion, down from $150 billion last year

Among the 15 who dropped out of the top 100 altogether are Vinod Goenka and Shahid Balwa, former billionaires now in jail for their alleged involvement in a telecom corruption scandal, says Forbes.

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1. Mukesh Ambani
Net worth: $22.6 billion

Mukesh Ambani retained the title of India's richest man, with a net worth of $22.6 billion this year, despite seeing a drop of $4.4 billion.

"This has been a turbulent year for India's richest. Despite the economy growing at close to 8 percent, a spate of corruption scandals and rising inflation have taken a toll," Naazneen Karmali, India Editor of Forbes Asia said.

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2. Lakshmi Mittal
Net worth: $19.2 billion

Steel tycoon Lakshmi Mittal remains No.2 with a net worth of $19.2 billion, down 26% from last year.

Despite the recovery in steel demand, shares of his flagship, ArcelorMittal, the world's largest steelmaker, plunged 40 per cent due to surging costs.

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3. Azim Premji
Net worth: $13 billion

Infotech tycoon Azim Premji retained his third place, though his wealth slipped from $16.8 billion earlier this year.

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4. Shashi and Ravi Ruia
Net worth: $10.2 billion

Brothers Shashi and Ravi Ruia, who head the Essar group are the fourth richest businessmen in India.

5. Savitri Jindal
Net worth: $9.5 billion

Savitri Jindal is the richest woman in India Inc. The non-executive chair of O P Jindal Group, she took over the steel and power conglomerate founded by her late husband Om Prakash in 1952.

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6. Sunil Mittal
Net worth: $8.8 billion

With a fortune of $8.8 billion, chairman of Indian telecom giant Bharti Airtel, Sunil Mittal is the 8th richest man in India.

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7. Gautam Adani
Net worth: $8.2 billion

Chairman of the Adani Group, Gautam Adani's net worth has fallen to $8.2 billion from $10 billion.

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8. Kumar Mangalam Birla
Net worth: $7.7 billion

With a net worth of $7.7 billion, chairman of the Aditya Birla Group, Kumar Birla's wealth has fallen from $9.2 billion seen earlier this year. 

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9. Pallonji Mistry
Net worth: $7.6 billion

Chairman of Shapoorji Pallonji Group, Pallonji Mistry is ranked 9th in the list.

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10. Adi Godrej
Net worth: $6.8 billion

Chairman of the Godrej group, Adi Godrej is the tenth richest Indian with a new worth of $6.8 billion.

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11. Dilip Shanghvi
Net worth: $6.7 billion

Dilip Shanghvi, chairman of Sun Pharmaceuticals saw a rise in fortune to $6.7 billion.

He is the biggest dollar gainer up by $1.5 billion from last year.

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12. Kushal Pal Singh
Net worth: $6.5 billion
         
Chairman of DLF, Kushal Pal Singh was pushed out of the top 10 this year as well. 

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13. Anil Ambani
Net worth: $5.9 billion

The biggest dollar loser was Anil Ambani, down $7.4 billion; he slipped out of the top 10 for the first time since his 2004 to No. 13 this year.

His net worth is estimated at $5.9 billion, down from $13.3 billion last year.

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14. Shiv Nadar
Net worth: $4.6 billion

Shiv Nadar, founder of HCL, has a net worth of $4.6 billion.

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15. Uday Kotak
Net worth: $3.6 billion

Uday Kotak, founder of the Kotak Mahindra Bank is the 15th richest Indian. 

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16. Anil Agarwal
Net worth: $3. 5 billion

Anil Agarwal is founder-director and executive chairman of the UK-based Vedanta Resources corporation.

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17. Malvinder and Shivinder Singh
Net worth: $3.2 billion

Former Ranbaxy CEO Malvinder Singh and his brother Shivinder Singh saw a drop in wealth to $3.2 billion.

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18. Rahul Bajaj
Net worth: $3.1 billion

Rahul Bajaj took over the Bajaj Group in 1965. Under his leadership, Bajaj Auto grew to become one of India's top automobile companies.

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19. Micky Jagtiani
Net worth: $3 billion

Micky Jagtiani, CEO of the Landmark Group has a fortune of $3 billion.

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20. Anand Burman
Net worth: $2. 9 billion

Anand C. Burman is the Chairman of Dabur India with interests in pharmaceutical sciences.

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21. Brijmohan Lall

The biggest percentage gainer is Hero Group patriarch, Brijmohan Lall Munjal, ranked No. 21 with $2.7 billion.

He broke off his long-standing partnership with Honda Motor.

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22. Subhash Chandra
Net worth: $2.6 billion

Media baron and Chairman of Essel Group, Subhash Chandra, with a fortune of $2.6 billion, is ranked at No. 22.

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23. Kalanithi Maran
Net worth: $2.5 billion

Media tycoon Kalanithi Maran heads Sun TV, India's biggest regional broadcaster

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24. Pankaj Patel
Net worth: $2. 4 billion

Pankaj Patel, chairman and managing director of Cadila Healthcare, the fifth largest pharmaceutical company in India.

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25. Indu Jain
Net worth: $2.3 billion

Indu Jain is the second richest woman in India. Chairperson of Bennett & Coleman Ltd and a spiritualist, her fortune stands at $2.3 billion.