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Mukesh Ambani richest Indian with net worth of Rs 3,80,700 crore: Hurun rich list

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Reliance Industries’ Chairman Mukesh Ambani has topped the list of richest Indians for the eighth consecutive year, with a net worth of Rs 3,80,700 crore, according to the latest IIFL Wealth Hurun India Rich List.

London-based SP Hinduja & family, with assets worth Rs 1,86,500 crore, retained the second rank in the list, followed by Wipro founder Azim Premji at the third place with a wealth of Rs 1,17,100 crore.

According to the latest IIFL Wealth Hurun India Rich List, the number of Indians having a net worth of more than Rs 1,000 crore has grown to 953 this year from 831 in 2018; while, the number of billionaires in terms of US dollar has reduced to 138 from 141.

“The combined wealth of top 25 in the list equates to 10 per cent of India’s GDP and that of 953 accounts for 27 per cent,” it said.

L N Mittal, chairman and CEO of ArcelorMittal, was the 4th richest with a wealth of Rs 1,07,300 crore and Gautam Adani was placed on the 5th position with a net worth of Rs 94,500 crore.

Others in the top 10 include Uday Kotak at the 6th place with a wealth of Rs 94,100 crore, Cyrus S Poonawalla at 7th position with Rs 88,800 crore assets, Cyrus Pallonji Mistry at 8th spot with a wealth of Rs 76,800 crore, Shapoor Pallonji at 9th position with a net worth of Rs 76,800 crore and Dilip Shanghvi at 10th slot with Rs 71,500-crore wealth.

Interestingly, while the cumulative wealth for this year shows an increase of 2 per cent compared to last year, the average wealth shows a decline of 11 per cent, IFL Wealth Hurun India Rich List said.

As many as 344 individuals or more than a third of this year’s list witnessed wealth reduction and another 112 could not meet the threshold of Rs 1,000 crore, it added.

“Globally, the wealth creators drive the growth and therefore play a vital role in shaping the economy. With Indian Government setting its sight on USD 5 trillion GDP mark – we are confident that the size of the India Rich List will easily triple in the next 5 years,” said Anas Rahman Junaid, MD & Chief Researcher, Hurun Report India.

With 246 individuals or 26 per cent of the list, Mumbai is the absolute capital when it comes to the residence of India’s top entrepreneurs, followed by New Delhi (175) and Bengaluru (77).

There are 82 NRIs on the coveted list of which 76 per cent are self-made. With 31 individuals, USA is the most preferred country for NRIs, followed by the UAE and the UK.

With a net worth of Rs 7,500 crore, Ritesh Agarwal (25) of Oyo Rooms is the youngest selfmade entrepreneur and the wealthiest under 40 years (age) is Divyank Turakhia (37) of Media.net.

The list includes 152 women with an average age of 56 years.

Roshni Nadar (37) of HCL technologies is the richest woman followed by Smita V Crishna (68) of Godrej Group with a net worth of Rs 31,400 crore. With a net worth of Rs 18,500 crore, Kiran Mazumdar-Shaw of Biocon retains the crown of the richest self-made woman in India.

“With the India story gaining momentum, supported by a young and an aspirational demography – the potential of wealth management in the country has merely scratched the surface,” said Yatin Shah, Co-founder & Executive Director, IIFL Wealth Management Ltd.

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Business

Delhi: Businesses can now remain open 24×7, over 300 applications cleared by L-G

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Photo by Rehan Fazal on Unsplash

From restaurants to transport services and BPOs to online delivery services, all those who apply for exemptions will be allowed to operate 24×7 in Delhi starting next week, with Lieutenant Governor V K Saxena approving the proposal to exempt 314 such places to operate all day long, some of them pending since 2016, officials said.

“The L-G has directed that notification to this effect be issued within seven days. The decision of providing exemption under Sections 14, 15 & 16 of the Delhi Shops & Establishment Act, 1954, is expected to boost employment generation and promote a positive and favorable business environment that is a prerequisite for economic growth. The decision will also provide a fillip to the much desired ‘nightlife’ in the city,” said an official.

Source: IndianExpress

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Business

Swiggy Instamart figures, Mumbaikars ordered 570 times more condoms in the last one year

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Customers are also ordering medical-related things through online shopping platforms. In metros like Mumbai, Hyderabad, Delhi, and Bangalore, people are buying goods online in large numbers. People living in metro cities including Bengaluru, Delhi, and Mumbai ordered an average of 6 million eggs in the last year.

These days people are doing online shopping fiercely in the country. Through Grocery Service Platforms, the goods of need are easily reaching people’s homes. From vegetables to medicines, just a few clicks on the smartphone are reaching people’s doorsteps. According to a survey, Swiggy Instamart has provided service to more than 9 million users between June 2021 and June 2022. In metros like Mumbai, Hyderabad, Delhi, and Bangalore, people are buying goods online in large numbers.

Healthcare products orders

Customers are also ordering medical-related things through online shopping platforms. According to a survey, Mumbaikars have ordered 570 times more condoms in the last 12 months. At the same time, in 2021, Instamart received orders for about two million sanitary napkins, menstrual cups, and tampons. Apart from this, a lot of orders have also been received for grocery items.

56 lakh packets of noodles ordered

According to the survey, between April and June last year, there was a 42 percent increase in the demand for ice cream in these metro cities. It was also learned that most of the orders were placed after 10 pm. In metro cities, people have ordered 5.6 million packets of instant noodles. In Hyderabad, users ordered around 27,000 bottles of fresh juice during the summer months.

60 lakh eggs ordered

The demand for eggs has increased manifold in the last two years. People living in metro cities including Bengaluru, Delhi, and Mumbai ordered an average of 6 million eggs in the last year. According to the report, customers from Bangalore and Hyderabad ordered the maximum number of eggs for breakfast. At the same time, people of Mumbai, Jaipur, and Coimbatore have ordered the maximum number of eggs online at the time of dinner.

Demand for dairy products

There has been a huge jump in orders for both tea and coffee. According to the report, there has been an increase of 2,000 percent in its demand. At the same time, 3 crore orders of milk have come for milk. People from Bangalore and Mumbai have placed more orders in the morning. Regular milk, full cream milk and toned milk are the most ordered dairy products.

Ordering fruits and vegetables

Orders for 62,000 tonnes of fruits and vegetables have been received in the last year. With 12,000 orders, Bengaluru tops the list of organic product buyers. At the same time, Hyderabad and Bangalore together have ordered more than 290 tonnes of green chilies in 12 months. Over 2 lakh orders have been received for bathroom cleaners, scrub pads, drain cleaners, and more in the last year.

Source: Aajtak

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Brand Story

Zepto, 10-minute grocery delivery app, raises $100 million

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Only five months subsequent to dispatching, 10-minute basic food item conveyance application Zepto on Tuesday reported it has raised $100 million driven by Y Combinator, taking its valuation to $570 million.

Other than the raise money, Zepto has been developing staggeringly rapidly and is significantly increasing its client base consistently.

In the course of recent months, Zepto has extended past Mumbai by dispatching in Bengaluru, Delhi, Gurgaon, Chennai, Hyderabad, and Pune (Kolkata to follow), the organization said in an assertion.

“Financial backers are reliably deciding to back Zepto due to our top tier execution. This is giving us extraordinary energy – we’re developing at an amazing rate, clients are adoring the item experience, our center unit financial matters are solid, and we have one of the most outstanding startup groups in India today,” said Aadit Palicha, Co-Founder and CEO.

The Series C raising money round saw support from new and existing financial backers, including Glade Brook, Nexus, Breyer Capital, Lachy Groom, Global Founders Capital, Contrary Capital, and that’s just the beginning.

The round came 45 days later the organization reported its $60 million raise money in November.

Conveying food in a short time is a game-changing encounter for clients in the nation, and a few players are presently joining the race.

“We are eager to twofold down and lead this round in Zepto. They initially dispatched with an alternate model, quickly turned to speedy trade in August 2021, and are presently adding 100,000 new clients consistently, 60% of the ladies,” said Anu Hariharan from Y Combinator.

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