A philanthropist is a term related to a person who is capable of helping the needy with the resources they have, especially money. Philanthropists help needy people create a better world and, so to say, improve the economy of a country. The constant effort to promote human welfare makes a person an actual philanthropist.
India is a country that has umpteen slums in every city. People living in such slums are so poor and needy that our industrialists and rich heads come forward to help them during their hard times. In the recent times, these philanthropists donated as much as they could. Here is the top philanthropists’ list in India:
Shiv Nadar, the founder of a multi-billion company (HCL Technologies) donates a huge amount of his earnings through the foundation named after him, Shiv Nadar Foundation. The foundation’s focus is empowering individuals through education to bridge the socio-economic divide.
He is widely regarded as the biggest philanthropist in India and believes that every person should be well educated thus has the aim to establish institutions and schools in the underdeveloped and rural areas of our country. Some of his famous institutions are the SSN Institution, VidyaGyan & Kiran Nadar Museum of Art. Shiv Nadar donated 5% more than FY2023 with a total of INR 2153 crores making him the top philanthropist in India for 2024.
Mukesh Ambani and Family
Name
Mukesh Ambani
Company
Reliance Industries
Donation
INR 407 Crores
Primary Cause
Healthcare
Mukesh Ambani – Famous Philanthropist in India
Mukesh Ambani, one of the richest people in the world is also a big philanthropist who founded the Reliance Foundation, a non-profit organization in 2010. This Foundation‘s objective is to promote sustainable growth in India.
The Reliance Foundation is run by Mrs. Nita Ambani who has a focus on rural transformation, health, education, and sports for development. Every year the foundation donates an amount of approximately INR 407 crores to such programs and NGOs. Mukesh Ambani and his family are second in the top 10 philanthropists of India for 2024.
The Bajaj family, Indian philanthropists, has made notable contributions and has been actively involved in philanthropic activities in the country where they have established their business. Their charitable endeavors have demonstrated a commitment to giving back to society and have had a significant impact on the communities they serve.
Their contribution of INR 352 crore to the cause is a testament to their unwavering commitment to charity and social welfare. This achievement marks their first appearance on the prestigious list since its inception and highlights their dedication to making a tangible impact through their acts of kindness. Bajaj Family is the third in the top 10 philanthropists of India for 2024.
Kumar Mangalam Birla and Family
Name
Kumar Mangalam Birla
Company
Aditya Birla
Donation
INR 334 Crores
Primary Cause
Education
Kumar Mangalam – Famous Philanthropist in India
The chairman of Aditya Birla Group, Kumar Mangalam Birla donated a huge amount of his profits to the PM CARES FUND and helped actively people during the COVID-19 pandemic times to do the needful.
His focus is on the poor who don’t have enough financial resources to pay their hospital bills and get proper treatment. He frequently visits the Aditya Birla Memorial Hospital to check up on its welfare and services. He is one of the top philanthropists in India for 2024.
Gautam Adani
Name
Gautam Adani
Company
Adani Group
Donation
INR 330 Crores
Primary Cause
Education
Gautam Adani – Famous Philanthropist in India
Gautam Adani is a true entrepreneur in every sense. He has businesses in almost every sector. He believes a lot in helping and is always donating finances through the Adani Foundation to the needful.
Adani Foundation is based on the Gandhian Philosophy of Trusteeship. The main motive is to facilitate quality education, enable youth with skills, and promote society through infrastructural development. He also donated an amount of INR 88 Crores during the COVID-19 period to the PM Cares Fund. With a donation of INR 330 crore, Gautam Adani is the 5th in the top 10 philanthropists in India for 2024.
Nandan Nilekani is the co-founder of Infosys. In 1978, he started his career at Infosys, and now he is one of India’s biggest entrepreneurs and a big philanthropist. He and his wife started donating small amounts of their income to poor people, and in 2017, both of them decided to donate 50% of their wealth to an NPO, which is operated by Bill Gates Foundation.
Krishna Chivukula – Famous Philanthropist in India
Krishna Chivukula, chairman of INDO-MIM, has donated INR 228 crore to IIT Madras. This is the largest donation the institute has ever received. The money will be used for fellowships for top BTech students, sports programs, and important research projects. He is now ranked 7th on the list of top donors.
Anil Agarwal
Name
Anil Agarwal
Company
Vedanta
Donation
INR 181 Crores
Primary Cause
Healthcare
Anil Agarwal – Famous Philanthropist in India
Anil Agarwal founded the Vedanta foundation on 15th September 1992, to help in creating more employment for sustainable development. Vedanta Foundation aims to achieve development through programs in the form of initiatives with a broad focus mainly on education, nutrition, and livelihood. He is one of the top philanthropists in India for 2024.
Their main objective is to focus on the school children, to provide them with proper nutrition, training, and knowledge about the digital world, which helps them to grow and grab better job opportunities.
Susmita and Subroto Bagchi
Name
Susmita and Subroto Bagchi
Company
Mindtree
Donation
INR 179 Crores
Primary Cause
Education
Susmita and Subroto Bagchi – Famous Philanthropist in India
Mindtree founder Subroto Bagchi and his wife Susmita are now in the top 10 donors list. They donated INR 179 crore, 63% more than last year. They focus on education and started the Bagchi School of Public Health at Ahmedabad University in 2023.
Rohini Nilekani
Name
Rohini Nilekani
Company
Rohini Nilekani Philanthropies
Donation
INR 154 Crores
Primary Cause
Ecosystem Building
Rohini Nilekani – Famous Philanthropist in India
Rohini Nilekani, a philanthropist in India, has been a beacon of hope for those in need with her consistent and generous donations of INR 15470 crore in 2024. Her unwavering dedication towards philanthropic causes is evident from her pledge to donate half of her wealth to noble works through the ‘Giving Pledge.’ She has been actively involved in various initiatives and programs aimed at uplifting society and making a positive impact on the lives of people. Her philanthropic efforts have touched the lives of many, and she continues to inspire others to follow in her footsteps.
Azim Premji
Name
Azim Premji
Company
Wipro
Donation (FY 2023)
INR 1,774 Crores
Primary Cause
Education
Azim Premji – Famous Philanthropist in India
Mr. Azim Premji is one of the most respected Indian Business tycoons, and also a top Indian philanthropist as he’s been donating his time, money, and experience to the people who are in the utmost need.
Recently, he has donated most of his wealth to all other philanthropists so they can pass on the resources to the right place at the right time. He has a trust named Azim Premji Foundation, which gives grants to non-profit organizations that work for the most vulnerable people in our society by providing them with the essential services required to carry out a healthy life. He is considered one of the most famous philanthropist in India.
Ajay Piramal
Name
Ajay Piramal
Company
Piramal Group
Donation (FY 2023)
INR 200 Crores
Primary Cause
Healthcare, Women’s Empowerment, Education
Ajay Piramal – Famous Philanthropist in India
Ajay Piramal, who owns a business of 460 crores, is a well-known philanthropist and also believes in donating for the good. He started his philanthropic career in 2006 by forming a group named the Piramal Foundation. His main objective was healthcare. As he became a pharmaceutical company he realized the need for a better healthcare system in India.
Presently the foundation works in four areas that are: Healthcare, Education, Better Livelihood, and Youth empowerment. Ajay donates around INR 200 crores every year to India’s needy population and is counted as one of the biggest philanthropist in India.
Shrichand Hinduja – Famous Philanthropist in India
Following the legacy left by his father, Shrichand Hinduja is one of the leading businessmen and a big philanthropist in India. Hinduja Foundation was founded in 1970 with the objective of ending poverty in the country.
The foundation has done various initiatives to identify and enhance the efficiency of water usage in rural areas. They also focus on the healthcare facilities available to remote areas and help in the sustainable development of small villages and towns.
Sudhir Mehta
Name
Sudhir Mehta
Company
Torrent
Donation (FY 2023)
INR 81 Crores
Primary Cause
Community Healthcare, Education, and Knowledge Enhancement
Sudhir Mehta – Famous Philanthropist in India
Sudhir Mehta is a well-known philanthropist in India, owning the Torrent group, which deals in the gas and power business. He donates a lot to the Gujarati community and the Jain people. Sudhir helps the people by giving the poor children a proper source of education and healthy meals to eat. He dreams of achieving a 100% literacy rate in India.
Cyrus and Adar Poonawalla – Famous Philanthropist in India
Cyrus S. Poonawalla and Adar Poonawalla, who represent the Serum Institute of India, have made an outstanding contribution of INR 179 crore to the India Philanthropy List 2023. The Poonawalla brothers have been particularly focused on the healthcare industry, which reflects a remarkable 60% increase in their donations from the previous year.
Their continued support of charitable activities related to the healthcare sector is further illustrated by their additional contribution of $19.08 million from Serum Inc. and Serum Institute Life Science-UK. All these contributions from famous philanthropists are a testament to their unwavering commitment to improving the healthcare sector in India.
The nation requires philanthropists in India who give their best efforts to make the country a better place to live. Such people who are capable of helping others should be appreciated as they are the people who can transform India by filling the gaps that others cannot. The above list of philanthropists in India highlights individuals who have made significant contributions to society through generous donations, particularly in areas like education, healthcare, and research.
FAQs
Who is the greatest philanthropist in India?
Shiv Nadar is considered one of the greatest philanthropists in India, as he has donated around ₹2,153 crores in 2024.
Who is a philanthropist?
A philanthropist is a person who donates his/her time, money, experience, and skills to help create a better world.
What is an example of philanthropy?
An example of philanthropy would be giving money to charity or volunteering.
Who is India’s most charitable person?
Azim Premji, one of India’s most respected business tycoons, is widely regarded as the country’s most charitable person for his extensive philanthropic contributions.
When it comes to the Indian business arena, one simply cannot ignore Mr. Mukesh Ambani—the owner of Reliance Industries, and the wealthiest businessman in India. He has footprints in some of the most important sectors of the Indian economy such as refining, oil & gas, petrochemicals, telecom, retail, and media. Reliance’s oil refining business has been its crown jewel to date.
In September 2016, Mukesh Ambani officially launched his telecommunication venture called Jio (Joint Implementation Opportunities) and set an example by turning Jio into the largest mobile network in India and the third-largest mobile network operator in the world with over 477.94 million subscribers as of November 2024. Witnessing the growth in revenues, profits, and market share in the above-mentioned sectors, Mukesh Ambani is now all set to try his hand at e-commerce through his new venture called JioMart. So what exactly is JioMart all about?
JioMart is an online grocery store that provides 50,000+ grocery products at discounted rates at your doorstep through an express delivery system. Itfollows an on-demand model. The company will avoid the system of warehousing and partner with local retailers instead. These retailers will source the grocery products and deliver them to the customers.
JioMart began functioning in January 2020 and is available in over 200 cities and towns across India, including Mumbai, Chennai, Kolkata, Hyderabad, Delhi, Bengaluru, Jaipur, and Trivandrum.
JioMart’s app is available for download on Google Play Store and Apple Store.
JioMart will operate on the online-to-offline business model; it will connect with local retailers and deliver goods to customers by procuring them from the nearest store located in the customer’s vicinity. This model is unlike the warehouse model used by Grofers and Amazon Now.
The company wants to correct the unorganized retail sector and help local shopkeepers whose businesses were adversely affected due to competitive pricing and warehousing strategies of online retail stores. In addition to increased sales and margins, these shopkeepers will be equipped with point-of-sale (PoS) terminals, integrated billing applications, and GST compliance. It will also upskill them in inventory management and supply chain management.
RIL wants to establish its new venture, termed ‘Desh Ki Nayi Dukaan’, in this manner.
JioMart claims to offer the following consumer-friendly services:
Free home delivery: It will give you the benefit of delivery of commodities at your doorstep by procuring it from the nearby store, and that too free of cost, which your ‘Kirane wala bhaiya’ may not.
No minimum value: Generally, e-commerce sites set up a minimum value of a purchase to validate free delivery. For example, Grofers has a policy of free delivery on a minimum purchase of INR 500. JioMart will not expect a ‘minimum payment’ and abstain from delivery charges, even for the smallest of items ordered.
Express delivery: Express delivery means quicker delivery than ordinary services. In the e-commerce segment, it is generally within 24 hours.
No questions asked return policy: When you wish to return the goods that you ordered online, you are almost always bombarded with unnecessary questions. And most of the time, they cannot avoided. JioMart will save you this hassle.
Early bird discount of INR 3000: The platform has come up with a promotional strategy of pre-registration wherein people can save up to Rs 3000 on future shopping. Reliance Jio has started sending invites to its existing telecom service users in selected areas.
AI-Powered Inventory Management: JioMart leverages artificial intelligence to monitor inventory in real-time, ensuring better product availability and faster deliveries, eliminating the hassle of out-of-stock items.
Hyperlocal Approach: JioMart expanded beyond major cities by partnering with local kirana shops, reaching the core of India to ensure quick deliveries, no matter the location.
JioMart wasn’t an overnight expedition of Mukesh Ambani but a well-assessed move with the sole motive of capturing the highly sought-after e-commerce segment.
Mukesh Ambani already has a formidable customer base in the retail sector with Reliance Fresh which functions successfully on the brick-and-mortar model. JioMart owner Mukesh Ambani’s plan to set up an e-commerce platform goes back to 2019. His ambitious project emulates his desire to compete with global e-commerce giants such as Amazon and Walmart-owned Flipkart.
Reliance acquires Grab A Grub and C-Square
Acquisition of Grab A Grub: Grab A Grub is an Indian logistics startup founded in 2013. In March 2019, Reliance Industrial Investments and Holdings Limited (RIIHL) acquired it for $14.9 million to support the logistics of Jio Mart founder Mukesh Ambani’s ‘planned e-commerce venture’. Grab was chosen because it worked successfully with some mega-brands such as McDonald’s, BigBasket, Myntra, Amazon Now, and Swiggy.
Acquisition of C-Square: C-Square Info Solutions Private Limited, founded in 2002, provides software solutions for verticals like e-commerce, salesforce, retail, etc. It was acquired by RIIHL in March 2019 for $11.56 million. A strategic move by RIL, it was aimed to strengthen JioMart.
JioMart – Business Model and Revenue Model
RIL is offering local merchants an O2O (online-to-offline) marketplace through JioMart. This business model was pioneered by the Chinese e-commerce giant Alibaba Group Holding Ltd. Under the O2O model, a consumer searches for the product or service online but buys it through an offline channel.
JioMart, Reliance Retail’s e-commerce platform, has tripled its number of sellers compared to 2023, as shared in its December 2024 quarter results. While groceries remain its main focus, JioMart is now working to increase its share of non-grocery items.
It connects with local retailers and delivers goods to the customers by procuring them from the nearest store located in the customer’s locality. The customer will use his or her official WhatsApp number to place the order. Post confirmation, the user will receive the bill which is to be paid in cash. When the store is ready with the order, the customer will receive a notification to pick up the order from the store.
A retailer can register with JioMart to become a seller. After registering with JioMart, retailers will receive the required support for the smooth delivery of goods to customers.
Registered grocery store owners will be able to list their inventories, take orders, create offers, and manage online sales using the app. JioMart will ensure that the sellers associated with its platform get a smooth selling experience.
How JioMart Consumers and Retailers Benefitted from the Jio-Facebook Deal
The Jio-Facebook deal, wherein Facebook invested INR 43,574 crore ($5.7 billion) in Jio platforms, made lives easier for the consumers and retailers associated with JioMart. As part of this deal, WhatsApp – Facebook’s popular messaging platform collaborated with JioMart. Owing to this collaboration, JioMart users can place their order through WhatsApp and Facebook while payments can be made using the ‘WhatsApp Pay’ feature.
JioMart services have been made available on WhatsApp from 25 April 2020 in Navi Mumbai, Thane and Kalyan. JioMart is currently operating in these three cities only. However, the only mode of payment currently available is cash.
“In the very near future, JioMart – Jio’s digital new commerce platform, and Whatsapp – will empower nearly 3 crore small Indian Kirana shops to digitally transact with every customer in their neighbourhood”- Mukesh Ambani said, CEO, Jio Mart.
Grocery delivery startups like Blinkit (formerly Grofers), Big Basket, Zepto, and Swiggy Instamart have seen remarkable success in recent years, driven by significant funding and rapid revenue growth. Recognizing the market’s potential, major e-commerce players like Amazon have also entered the grocery and essentials delivery space.
With the entry of the biggest player in the Indian market, a serious threat looms over existing grocery delivery ventures. Besides being a popular brand name, JioMart has some features that lend it an upper hand over its competitors.
The company plans to deliver orders in 30 minutes as quick commerce grows popular.
Next month in December 2024, it will start 30-minute delivery in the top eight metros and later expand to 20-30 cities in phase one. Eventually, it will cover the rest of the country.
Deliveries will be managed through its 3,500+ stores. However, JioMart won’t open dark stores or compete in the 10-20 minute delivery race.
Conclusion
When Jio entered the telecom segment, it stirred a revolution and turned the tables. Big shots like Airtel and Vodafone who dominated for years were sent tumbling. A potential revolution is on the cards again because of Reliance’s JioMart. JioMart’s business model showcases its ambition to dominate India’s e-commerce space by expanding Reliance’s vast retail network, focusing on groceries, and steadily focusing on quick commerce, making it a key player in the digital commerce ecosystem.
FAQs
What is JioMart?
JioMart is Reliance Retail’s e-commerce platform offering groceries, essentials, and other products online.
What is JioMart’s business model?
RIL is offering local merchants an O2O (online-to-offline) marketplace through JioMart. This business model was pioneered by the Chinese e-commerce giant Alibaba Group Holding Ltd. Under the O2O model, a consumer searches for the product or service online but buys it through an offline channel.
Who is JioMart founder?
Mukesh Ambani is the owner of JioMart.
Does JioMart charge for delivery?
JioMart charges a delivery fee for orders under INR 250, but not for orders over INR 250 or new customers’ first three orders.
When was JioMart launched in India?
Jiomart was initially soft-launched in 2019. It was fully launched in May 2020 in 200 cities in India.
MD and Chairman of Reliance Industries, Mukesh Dhirubhai Ambani is India’s very own desi Richie Rich. With a staggering net worth of $119.5 billion, the Indian billionaire is not only the richest man in Asia and 9th richest in the world but is also 1st on the Forbes List of India’s 100 Richest Men.
In this StartupTalky story, we’ll dive into the success story of Mukesh Ambani, his early life, childhood, personal life, education, philanthropy, Reliance Industries, achievements, and more.
Mukesh Ambani: Biography
Name
Mukesh Dhirubhai Ambani
Born
19th April, 1957
Nationality
Indian
Profession
Chairman & Managing Director, Reliance Industries
Education
St. Xavier’s College, Mumbai Institute of Chemical Technology (B.E.)
Born to Dhirubhai and Kokilaben Ambani on the 19th of April, 1957 in the British Crown colony of Aden, Mukesh Dhuribhai Ambani has three siblings- Anil Ambani, Nina Bhadrashyam Kothari, and Dipti Dattaraj Salgaonkar.
Dhirubhai Ambani owned a spices and textiles business called “Vimal” which was rebranded as “Only Vimal” later and soon moved to India to begin trading while the Ambani family stayed in Yemen.
Born from simple beginnings, the Ambani family resided in a simple two-bedroom flat in Mumbai until the 1970s and continued to live in a Chawl communal society and use public transport even after their economic condition improved with time. It was much later that Dhirubhai Ambani bought the 14-storey apartment complex “Sea Wind” in Colaba where the families started living on independent floors.
Mukesh Ambani completed his schooling at Hill Grange High School along with his brother and friend Anand Jain. He completed his graduation from St. Xavier’s College and went ahead to pursue his B.E. in Chemical Engineering from the Institute of Chemical Technology.
The gifted student had also enrolled for his MBA from Stanford University but dropped out in 1980 to aid his father in setting up their fast-growing enterprise- the iconic Reliance. His belief in learning from real-life situations and not in classrooms- a proven ideology has made Mukeshbhai Ambani the business tycoon he is today.
As a man of the soil, he also invited his son to take over the yarn manufacturing plant and learn from life experiences rather than pursue theoretical degrees.
Mukesh Ambani: Home & Family
Mukesh Ambani Family
Married in 1985 to Nita Ambani, Mukesh is a father to three children; the twins Akash and Isha and son Anant Ambani, Mukesh Ambani fulfilled the role of being a devoted son by agreeing to an arranged match that was arranged by his father who had spotted Nita at a dance performance.
Despite living in the 27-storeyed prestigious Antilia and being surrounded by 600 staff members, 3 helipads, a fitness center, a private movie theatre, and a 160-car garage, and becoming India’s first private aircraft owner with his Boeing 575 Max 9 for INR 1000 crore, Mukesh Ambani remains a simple down-to-earth tea-totaller and strict vegetarian.
Mukesh Ambani: Family Feuds
Mukesh Ambani gained joint leadership of Reliance Industries in 2002 with his brother, Anil Ambani after Dhirubhai Ambani passed. Unfortunately, the brothers were unable to see eye to eye and soon Kokilaben Ambani was prompted to split the assets between the brothers. Mukesh Ambani got control of the oil, gas, and petrochemicals sectors while Anil Ambani was given power generation, telecommunications, and financial services.
Mukesh Ambani is credited for setting up one of the biggest petroleum refineries at Jamnagar, Gujarat in 1999. He also spearheaded the setting up of multiple state-of-the-art manufacturing plants to increase RIL’s capacity.
Once again in 2008, he established another refinery near the first one. In 2006, he led the establishment of Reliance Retail – the largest chain of physical and online stores. As of 2023, Reliance Retail had a customer base of 249 million in India.
Mukesh Ambani: A Doyen of Business
Taking RIL to a New Height
Credited with setting up one of the biggest petroleum refineries at Jamnagar, Gujarat in 1999, Mukesh Ambani also led the charge to set up multiple innovative manufacturing plants across the country to drive RIL’s growth and established a second refinery near the first one in 2008. The feather in his cap was instituting the largest chain of online and physical stores leading to a customer base of 249 million clients in India by 2023.
The Man With The Golden Touch
The acquisition of the Mumbai Indians in 2008 brought the Ambani family into the limelight as it was the only IPL team to gain brand value during the pandemic.
Mukesh Ambani also founded Jio Platforms in 2010 as a wholly-owned subsidiary of RIL in the fields of telecommunications and eCommerce after signing the non-competition agreement signed in 2006.
February 2024 led to India’s largest media joint venture when Mukesh Ambani’s RIL came together with Viacom18 and Disney to be valued at $8.5 million and reached more than 750 million viewers with exclusive rights to distribute Disney in India.
Mukesh Ambani: Building A Nation
As a believer that the country’s national policies drive economic growth and development, Mukesh Ambani supports the government’s programs that boost digital infrastructure and renewable energy- tenets that have a strong base in Reliance Industries’ strategic investments in Jio and even commended Prime Minister Modi’s initiatives to make India the third largest global economy at the Reliance Group AGM in 2024.
As an innovative businessman, Mukesh Ambani has always backed India in areas like artificial intelligence, robotics, and life sciences that further the nation’s opportunities in the Global South while striving to eliminate developmental disparity.
RIL’s business strategies and company policies aim to increase India’s energy security, environmentally friendly projects, and economic power through positive reinforcement and impactful changes. Despite avoiding political ties, Mukesh Ambani has constantly enabled development in India’s industrial and infrastructural sectors which support the long-term vision and goals of the current government.
Some of the best achievements and recognitions of Mukesh Ambani are:
Year
Award Name
Organization
2000
Ernst & Young Entrepreneur of the Year
Ernst & Young India
2010
Global Vision Award
Asia Society
2010
School of Engineering and Applied Science Dean’s Medal
University of Pennsylvania
2010
5th best performing global CEO
Harvard Business Review
2010
Global Leadership Award
Business Council for International Understanding
2016
Foreign associate, US national academy of Engineering
National Academy of Engineering
2016
Othmer Gold Medal
Chemical Heritage Foundation
2019
Padma Vibhushan
Indian Government
2024
Lifetime Achievement Award
Voice & Data
2024
Brand Guardianship Index
Brand Finance
Mukesh Ambani: Trouble in Paradise
When RIL went public in 2006 as a subsidiary of Reliance at Rs. 60 per share, the stock market crash of 2007 saw their share prices float to Rs. 100 per share and then come back to Rs. 60. A fine that cost RIL Rs. 950 crores for manipulation of shares of RPL as SEBI believed that RIL carried out organized operations with their agents to help gain unauthorized profits from trading its listed unit, RPL, that was combined with the former.
Mukesh Ambani: Philanthropy
Reliance Foundation Initiatives: The Reliance Foundation was set up in 2010. This foundation is predominantly working in the areas of health, education, rural development, and sports. It has benefited millions of Indians through these programs.
Healthcare: Providing free health services and specialized medical care through hospitals and mobile clinics. Reliance Foundation Hospital in Mumbai is a good example.
Education: Scholarships to postgraduate and undergraduate students and initiatives that promote youth in digital and green innovation.
Rural Development: Projects include water conservation, agricultural support, and livelihood improvements in rural villages.
Sports Development: Sponsorship and coaching of Indian sportspersons, involving support for participants in Asian Games and making an effort to get the game of cricket featured at international events.
Disaster Relief: Donations to disaster-stricken regions, including aid to the families of those who were martyred and relief efforts during the COVID-19 pandemic.
Sustainability and SDGs: Partnership with the United Nations toward addressing Sustainable Development Goals, focusing on leadership for the country, especially concerning India’s influence toward betterment worldwide.
Cultural Conservation: Grants to the domain of art, culture, and education, promoting Pichavai art and Olympic values in India.
I am a big believer that whatever has gone lies in the past. You should only learn from it, and you should only look at the present and the future. That’s been my father’s philosophy and mine as well.
💡
At Reliance, we have always believed in investing in the businesses of the future and in investing in talent.
💡
I have always believed that technology drives human civilization’s endeavour and progress.
💡
My obsession is with technology and how it can improve human life. In my view, what we have seen in the last 300 years is only a trailer.
💡
I am personally a big believer that technology is the biggest driver of human development, and if you can use technology to benefit people, then that’s the best business you can have.
FAQs
Who is Mukesh Ambani?
Mukesh Ambani is an Indian billionaire and the chairman of Reliance Industries, one of the largest conglomerates in India. He is involved in various industries, including petrochemicals, refining, oil, telecommunications, and retail. Mukesh Ambani is one of the richest people in the world.
Who is Mukesh Ambani wife?
Mukesh Ambani is married to Nita Ambani.
What is the net worth of Mukesh Ambani?
The net worth of Mukesh Ambani as of November 2024 is $119.5 billion.
How Dhirubhai Ambani became rich?
Dhirubhai Ambani became rich by starting Reliance Industries in 1966, focusing on textiles, and later expanding into petrochemicals, oil, and telecom. He used innovative strategies like raising capital through public offerings and vertical integration to grow his business rapidly, making him one of India’s wealthiest entrepreneurs.
Who is Mukesh Ambani right hand man?
Manoj Modi, often called Mukesh Ambani’s “right hand,” plays a key role in making important decisions for Reliance Industries and its subsidiaries. His daughter is also actively involved in the company and works closely with Isha Ambani.
Isha Ambani, the eldest child of India’s richest man, Mukesh Ambani, and coheir to India’s largest conglomerate, Reliance Industries, is more than just a billionaire’s daughter. Coming from a prominent business family that has shaped India’s economy, Isha could have easily stepped into the shadows of her father’s legacy. In lieu, she carved a niche for herself as a modern-day ‘Maharani’, illuminating her path with grace, intelligence, and entrepreneurial spirit.
Born and raised in a world of grandiosity, Isha from her early days has always been in the spotlight as a fashion icon. Still, her vision stretched far beyond into the future of retail and digital India. As a key executive at Reliance Industries, she is redefining business boundaries and has demonstrated an exceptional ability to balance tradition with innovation.
Armed with an Ivy League education, Isha’s journey wasn’t just about inheriting a legacy but about rewriting it. With her sharp business acumen, she is the driving force behind Reliance Retail and Jio, making her mark globally. Yet her journey wasn’t without its hurdles while carving her path. Steering through the corporate complexities, Isha has championed sustainable practices, turning obstacles into opportunities.
Isha’s influence extends beyond the corporate world as a prominent philanthropist and a champion for women’s empowerment. From boardroom meetings to defining some of the most innovative ventures, let us unveil how Isha is taking her father’s empire to new heights.
Learn about Isha Ambani, her education, career, family, philanthropy, controversies, Reliance, and more from this article.
Isha Ambani – Biography
Name
Isha Ambani
Born
October 23, 1991
Nationality
Indian
Hometown
Mumbai
Education
Stanford Graduate Business School Yale University
Profession
CEO Reliance Retail Director Reliance Industries Limited Director Reliance Jio Infocomm Member of Board, Jio Member of Board, Jio Financial Services Member of Board, Dhirubhai Ambani International School
On October 23, 1991, Isha was born as the daughter of Mukesh Ambani and Nita Ambani. She is the elder of the three siblings, having a twin brother, Akash Ambani, and a younger brother, Anant Ambani. Isha was raised in the heart of Mumbai’s elite circles, where she was exposed to the business world from a young age.
Isha’s educational journey is as impressive as her family background. She completed her schooling at the prestigious Dhirubhai Ambani International School in Mumbai and later went on to pursue a degree in Psychology and South Asian Studies from Yale University. In 2018, she went to Stanford Graduate School of Business to complete her MBA.
Isha commenced her career as a Business Analyst with a stint at McKinsey & Company. In 2014, she came back to India and officially joined Reliance Industries as a Member of the Board. Isha was also a Member of the Executive Committee for Reliance Jio Infocomm, the telecom arm of Reliance Industries, and quickly rose to become the Director of Reliance Jio Infocomm. In December 2015, Isha, along with her brothers Akash and Anant, launched Jio 4G services. She is also a Member of the Board for Reliance Jio, Reliance Foundation, and Dhirubhai Ambani International School.
As a part of the executive leadership team of Reliance Retail, in 2016, Isha launched Ajio, an online fashion brand under Reliance Retail. She rose to become the Managing Director for Reliance Retail, driving its rapid growth and diversification into new markets. Under her vision, Ajio has grown to house over 25,00 brands and commands 15% of the eCommerce fashion market in India with annual sales of over $2 billion. Her advanced digital-first strategy helped modernize the company’s operations, making Reliance Retail a dominant force in the Indian eCommerce market.
In August 2022, Isha was appointed CEO of Reliance Retail by her father, Mukesh Ambani. In July 2023, Isha closed a deal with America’s biggest apparel brand, GAP, and launched over 100 outlets across India. With a vision to bring luxury brands to India, she developed Jio World Plaza, a high-end shopping and entertainment complex in Mumbai, and inaugurated it in November 2023.
Over time, Isha has taken on increasingly significant responsibilities at Reliance Industries. She has been instrumental in driving the company’s expansion into new sectors, such as retail, telecom, healthcare, financial services, and new energy. Her contributions have been particularly notable in the areas of consumer products and retail, where she has played a key role in launching and growing successful businesses.
On December 12, 2018, Isha Ambani married Anand Piramal, the son of Ajay Piramal, Chairman of the Piramal Group. Their wedding was one of the most extravagant events that was attended by global business leaders, Bollywood celebrities, political figures, and international guests like Hillary Clinton and Beyoncé.
Isha Ambani and Anand Piramal are parents to twins, one son, Krishna Ambani Piramal, and a daughter, Aadiya Ambani Piramal, born on November 19, 2022. Despite their busy professional and social lives, Isha and Anand are known to share a deep-rooted connection with their families and have high beliefs in their families’ cultural values.
Isha is not just an entrepreneur and fashionista, but an inspiration for many young girls and women in the true sense.
Speaking openly about her motherhood through IVF in an interview with Vogue, she says, “I am very quick to say that my twins were conceived via IVF because that is how we will normalize it, right?” Isha further states, “If there is modern technology in the world today, why not use it to have children?”
She truly believes that motherhood is something you should be excited about; even if achieved through IVF, you must own it with pride and not hide. Isha’s bold move and open statements on IVF have sparked noteworthy conversations around fertility, choice, and women’s empowerment, inspiring many young women.
Isha Ambani – Philanthropy
Isha Ambani is the co-founder of the Reliance Foundation, a non-profit organization chaired by her mother, Nita Ambani. The foundation concentrates on various causes such as education, healthcare, rural development, disaster response, and sports development in India.
One of Isha’s significant contributions has been in the field of education, promoting digital schooling and sports for all. She has been instrumental in starting initiatives like ‘We Care, We Volunteer,’ which aims at providing education, art, and storytelling for underprivileged children.
In healthcare, Isha has played a key role in expanding the foundation’s initiatives to provide affordable and accessible healthcare services. Under Reliance Foundation, she has taken up the ingenuity to spread breast cancer awareness and has launched a book, Being Breast-Aware: What Every Woman Must Know,’ a book written by Dr. Vijay Haribhakti, Chair, Onco Sciences, Sir HN Reliance Foundation Hospital. To improve the overall health of millions of Indians, Isha has introduced programs, mobile health units, and community health initiatives under the Reliance Foundation.
Isha is also involved in sports development, continuing her mother’s legacy of promoting sports at the grassroots level. The Reliance Foundation Youth Sports (RFYS) program has helped thousands of young athletes hone their skills, providing them with training, equipment, and opportunities to participate in national and international events.
Beyond the Reliance Foundation, Isha and her husband, Anand Piramal, are also engaged in social impact ventures through the Piramal Foundation, focusing on healthcare, education, and social entrepreneurship. Isha’s role as a philanthropist emphasizes her commitment to driving impactful social change and uplifting marginalized communities.
Isha Ambani has generally maintained a positive public image, but being a prominent figure, there have been a few instances where she has been a part of criticism or controversy.
Reliance Jio Controversy:Reliance Jio, a telecom company where Isha holds an executive leadership role, has faced some controversy during its launch. Many critics accused the company of using unfair tactics to gain market share and of harming the interests of existing players in the telecom industry.
Environmental Concerns: Isha’s business ventures, particularly in the energy sector, have also faced criticism over environmental concerns. Some projects have been associated with issues such as land acquisition, pollution, and deforestation.
Isha Ambani – Awards And Recognition
Isha Ambani has received several awards and accolades for her intense business acumen, leadership, and contributions to transforming Reliance Industries.
In 2015, Forbes’ 30 Under 30 Asia list for her crucial role in the launch of Reliance Jio.
In 2020, Forbes Asia’s Power Businesswomen across the Asia-Pacific region to spearhead Reliance Retail and Reliance Jio.
Among the Twelve Most Powerful Upcoming Businesswomen of Asia byFortune India.
Second-youngest billionaire heiress on the Forbes list, with a net worth of $100 billion.
‘The Economic Times’ list of most powerful women in business.
Featured in The Times Power List.
Credited with the GenNext Entrepreneur Award at the 12th Forbes India Leadership Awards 2023.
Won Maharashtrian of the year 2024.
Recognized as a rising star at TIME100 Next List.
Ranked 31st in the Hurun India Under-35 list of entrepreneurs.
Icon of the Year Award at the Harper’s Bazaar Women of the Year Awards (2024).
We are living in times of exponential changes. The world is changing, the world is innovating, and if we are to survive in this fast-changing world, we too must innovate. So, for everyone present here today: Be ready to embrace the change. Be prepared to take up Science & Technology as a career option because Science & Technology hold the key to the future. The majority of future jobs are going to be in those realms. So, break the shackles to tradition, challenge yourself, and be the changemaker. – Isha Ambai as Director, Reliance Industries.
💡
I have a private account on Instagram because there’s no need for me to have a public account. I’m not an influencer, and it’s not something that I want to be. I don’t want to be known for the number of followers I have. I use social media for fun—scrolling through Instagram is a huge source of entertainment for me!” – Isha Ambani to Vogue.
FAQs
Who is Isha Ambani?
Isha Ambani is the daughter of Mukesh Ambani, one of the richest people in India and the chairman of Reliance Industries. She plays a key role in the family business, especially in the retail and telecom sectors. Isha is also known for her leadership in launching Reliance Jio and has been involved in various projects at Reliance.
What is Isha Ambani education?
Isha Ambani did her schooling at Dhirubhai Ambani International School in Mumbai. After that, she went to Yale University in the United States, where she earned a degree in Psychology and South Asian Studies. Later, she pursued an MBA from Stanford Graduate School of Business.
What is Isha Ambani age?
Isha Ambani was born on October 23, 1991. As of 2024, she is 33 years old.
Who is Isha Ambani husband?
Isha Ambani’s husband is Anand Piramal. He is the son of billionaire industrialist Ajay Piramal, who leads the Piramal Group, a large conglomerate in India.
In order to expedite the antitrust clearance process for their $8.5 billion merger of Indian media holdings, Reliance and Walt Disney have reportedly offered to sell some channels. However, they are reportedly fighting any adjustments made to the cricket broadcast rights that they own.
With a combined 120 TV channels and two streaming services, the Reliance-Disney merger, which was announced in February, is sure to be closely watched by antitrust experts. This is because it will result in creating India’s largest entertainment platform, locking horns directly with Sony, Netflix, Amazon, and Zee Entertainment.
The Merger Will Have an Upper Hand
Many are worried about the combined business’s pricing power and its influence on advertisers, especially since Reliance, owned by Asia’s wealthiest man Mukesh Ambani, will own a majority stake in the combined entity. The combined company will also own valuable cricket broadcasting rights worth billions of dollars.
Reliance and Disney have informed the Competition Commission of India (CCI) that they are prepared to sell a small number of television channels (less than ten) in order to allay fears of market dominance and secure early clearance, after the watchdog’s secret requests for approximately one hundred questions pertaining to the merger. There are other stipulations that pertain to regional Indian language channels that the two firms might control.
This Is Not the First Time Such a Merger Is Happening
During the year 2022, Zee and Sony made an offer to sell three television stations in order to create a television behemoth in India that would be worth ten billion dollars. However, despite the fact that this helped them get clearance from the CCI, the merger ultimately failed.
The notification that was issued by the Competition Commission of India (CCI) to approve that merger included information about the competitive landscape. The notification revealed that in the local language of Marathi, Disney and Reliance channels had a combined market share of between 65 and 75 per cent at that time. A market share of up to 50 per cent was held by the two with regard to Bengali language entertainment channels.
Cricketing Rights Play a Vital Role
Cricket is an additional area of disagreement in the merger procedure. In India, the sport has a devoted fan base, making the matches highly desirable for sponsors.
The Indian Premier League (IPL), the most prestigious cricket event in the world, and other major leagues’ digital and television cricket rights would be owned by Reliance-Disney.
So far, the CCI has not voiced any worries about the firms’ market strength in cricket rights, but the corporations have argued with the CCI that the rights cannot be sold at the moment because they expire in 2027 and 2028.
According to a report, the corporations are also worried that the approval process could be prolonged because the Indian cricket body would have to approve any sub-licencing of cricket rights.
For a long time now, Reliance Industries has been one of the major Indian conglomerates that has caused a stir. This ideal corporate realm, founded by Dhirajlal Hirachand Ambani, also known as Dhirubhai, a global business titan and visionary, has gone a long way since its beginnings. The narratives of Dhirubhai and Reliance are intricately intertwined. Since its inception, Reliance has made tremendous strides. It was originally fiber. Jio Fibre is the product of its current self-sufficiency. In its digital network, you can’t see every fiber. The network or fabric that Mukesh Ambani, Dhirubhai’s son, is weaving contains wireless fiber, though.
Fabric was the next step after Dhirubhai worked with yarn. The hit single “Only Vimal” by Reliance was the one that got everyone talking. Dhirubhai was perceptive about the requirements of both India and Reliance. In a whirlwind of activity, he embarked on a journey of reverse integration. He required fiber for his yarn.
Soil, water, manure, and organic compounds are the four main ingredients for natural fiber. The limitations of cotton’s productivity were known to Dhirubhai. To produce enough fabric to dress the millions, cotton is an expensive material. Affordable clothing was a requirement in India. The synthetic fabrics and inorganic compounds were selected by Dhirubhai.
Even India needed a little flair. Reliance was well-versed in fashion. It had to succeed as a B2C enterprise, which deals directly with consumers. Storytellers and strategy specialists may learn a lot about management from this.
Back in 1983, India emerged victorious at the Prudential Cricket World Cup. England played host to the first three tournaments in 1975, 1979, and 1983. The British worldwide insurance group Prudential, which was founded in 1848, sponsored all three.
Dhirubhai took advantage of the situation and secured the opportunity to sponsor the 1987 Cricket World Cup in India, representing the nation and the world at large. Cricket was Reliance’s way to elegance and substance in its big business-to-consumer venture. The 1987 World Cup was held in Pakistan and India. The final was place on November 8, 1987, at Calcutta’s (now Kolkata) gorgeous Eden Garden.
The Reliance Cricket World Cup was presented to Allan Border, the captain of the victorious Australian side, by Dhirubhai. Border took two wickets while batting superbly. One in particular stands out: he bowled out the English team’s captain, Mike Gatting, who was leading the losing side.
Allan Border’s role in opening Reliance’s door to a borderless globe is significant. Sponsorship of a World Cup ended with the 1987 Reliance tournament. Reliance had come as a business-to-consumer enterprise.
Oil and gas exploration, petrochemicals, refining, telecommunications, retail, and digital services are the company’s main abilities. RIL’s expansion and new product development are the result of Mukesh Ambani‘s forward-thinking leadership.
As a major supplier of energy to India and a major exporter of petrochemicals and refined products, Reliance has carved out a niche for itself on the international stage. It operates one of the biggest and most intricate refineries in the world at its Jamnagar facility.
The telecoms branch of RIL, Reliance Jio Infocomm, changed the game in India’s digital environment by providing affordable, high-speed data. When it comes to connecting to and using digital services, India has never been the same since Jio launched its extensive network coverage and creative products.
Reliance Retail, the retail division of the corporation, operates a large network of stores selling groceries, electronics, clothing, and more in a variety of forms. Its expansion plans and smart acquisitions have made it the undisputed leader in India’s retail industry.
Continue to Climb
From 2002 to 2023, India’s GDP increased sixfold, from $0.5 trillion to $4.11 trillion. The company’s income has increased multiplefold since 2002. During that time, its market capitalization has increased by a factor of ten or more.
Reliance exports petroleum products. With a daily stream capacity of 1.24 million barrels, its Jamnagar refinery is quite capable.
Many well-known brands are owned by Reliance. These include Ajio, Jio Mart, Reliance Trends, Reliance Fresh, Reliance Smart, and Reliance Digital. Many industries have been shaken up by Reliance’s Jio Platforms. Jio has captured more than 34% of the market and attracted 387.5 million members in just four years.
Revenue of Reliance Jio From Financial Year 2019 to 2023
An ode to the public firm that is owned and operated by its owners is Reliance. With a stake of over 45%, the Ambani family controls the majority of the company. As a remedy for “agency costs,” an extremely large internal holding is ideal.
Reliance has integrated management, ownership, leadership, and enterprise. Many American and European companies have long admired its ownership and management style. Ever since Reliance decided to issue its global depository receipts in May 1992, people have been talking about the company’s management and ownership. Institutional shareholders, who are among the most demanding shareholders in the world, have been aware of Reliance’s strengths since 1993. Even though it’s been 31 years, more and more people are jumping on the Reliance bandwagon.
FAQs
What is the telecommunication branch of Reliance Industries?
Reliance Jio Infocomm is the telecommunication branch of Reliance Industries.
Who is the founder of Reliance?
Dhirajlal Hirachand Ambani, also known as Dhirubhai Ambani founded Reliance Industries.
What was the revenue of Reliance Jio in 2023?
Reliance Jio generated a revenue of INR 1197.91 billion in 2023.
India is home to some insanely wealthy families and individuals well-known across the globe. India has the third largest group of rich people after the US and China. In 2022, the combined wealth of India’s 100 richest increased by $25 billion to touch $800 billion. StartupTalky has compiled an exhaustive list of the top richest people in India . Their net worth is based on the data from 2022 available on their respective Forbes profiles.
Founder – Adani Group Net Worth – $150 Billion Industry – Diversified
Gautam Adani, Founder of Adani Group | Top Richest Indians
Gautam Adani is an Indian billionaire industrialist and stands in the first position on the list of the top richest Indians in 2022. He is the chairman and founder of the Adani Group. The Adani Group is an Ahmedabad-based conglomerate involved in port development and operations in India. He is also the president of the Adani Foundation which operates to nurture communities in four chosen areas—education, healthcare, sustainable livelihood, and rural infrastructure development.
The Adani Group was formed in 1988 and has business interests in the resources, logistics, energy, agriculture, defence, and aerospace sectors. Gautam Adani holds a 66% stake in Adani Ports & SEZ Limited, a 75% stake in Adani Enterprises, a 73% stake in Adani Power, and a 75% stake in Adani Transmission. He was ranked as the 4th most powerful person in India by India Today Magazine in 2017.
Gautam Adani was born on 24 June 1962 in a Bania family in Ahmedabad, Gujarat. He did his schooling at Seth CN Vidyalaya in Ahmedabad. He is a B.Com dropout from Gujarat University. The Adani group’s venture into Australia after a nine-year wait is expected to bring huge windfalls for the billionaire.
Mukesh Ambani
Chairman – Reliance Industries Net Worth – $88 Billion Industry – Diversified
Mukesh Ambani – Chairman and Managing Director of Reliance Industries | Top Richest Indians
Mukesh Ambani is an Indian billionaire businessman and stands in the second position on this list, as of 2022. He is the chairman and managing director of Reliance Industries Limited (RIL). Reliance Industries mainly deals in refining, petrochemicals, and activities in the oil and gas sector. Mukesh Ambani has diversified his reach in the Indian market through several ventures, racing ahead in his net worth and influence exerted over India’s developing economy. Reliance Retail—which offers foods, groceries, apparel, footwear, lifestyle, home improvement products, electronic goods, and farm implements—is one of his group’s recent offerings. The Ambani family is also the owner of Mumbai Indians, an IPL franchise. Mukesh Ambani also owns Reliance Jio Infocomm Ltd. which took the telecom sector in India by storm and toppled the monopoly of the oldest players in the domain.
He was ranked 13th on the list of the world’s richest people as of May 2019. He has a stake of approximately 50% in Reliance Industries. Ambani surpassed Jack Ma, founder and executive chairman of Alibaba Group, to become Asia’s richest person with a net worth of $44.3 billion in July 2018. Mukesh Ambani is known to make headlines every now and then for the right reasons—Saudi Arabia-based Aramco buying a 20% stake in RIL for a whopping $15 billion, and him completing a 100% acquisition of Hamleys through Reliance Brands, a subsidiary of Reliance Industries.
Mukesh Ambani’s Life, Biography, and History
Mukesh is the oldest son of Dhirubhai Ambani and has a younger brother, Anil Ambani, whose downhill journey to oblivion is known to all. Mukesh Ambani was born on 19 April 1957 in Aden, Yemen and brought up in Mumbai. He graduated in Chemical Engineering from the Institute of Chemical Technology. He is an MBA dropout from Stanford University. Mukesh is a fan of Bollywood movies and watches three movies a week. He quips, “You need some amount of escapism in life.”
Radhakishan Damani
Founder – DMart Net Worth – $27.6 Billion Industry – Retail, Investments
Radhakishan Damani, Founder of DMart | Top Richest Indians
Radhakishan Damani founded the DMart chain of supermarkets. His retail chain accounts for more than 90 stores across India and is the third biggest in the industry. He has the ownership of a 65.2% stake in Avenue Supermarts, the parent company of DMart. His investment company, Bright Star Investments, holds another 16% stake.
Radhakishan Damani is known as Mr. White for his simplistic way of life coupled with high thinking. He is also a stock investor, broker, and trader. Radhakishan is well-known for his acumen and shrewdness as an investor.
Damani was born in 1945 in a Marwari family in Bikaner, Rajasthan. He enrolled for a bachelor’s degree in commerce but dropped out after the first year.
Cyrus Poonawala
Chairman – Poonawalla Group Net worth – $21.5 Billion Industry – Healthcare
Cyrus Poonawalla, Chairman of Serum Institute of India | Top Richest Indians
Cyrus Poonawalla is a self-made Indian tycoon. He is the founder of the Poonawalla Group. Cyrus comes from a family that is deeply connected with horse breeding. However, his keen interest in the field of medicine led him to create one of the world’s largest vaccine manufacturing and biotech companies – Serum Institute of India.
Cyrus Poonawalla was awarded the Padma Shri for his work and contributions made in the field of medicine. He was also awarded the Life Time Achievement award by the then-Prime Minister Of India, Dr. Manmohan Singh. With a net worth of $8.3 billion, Cyrus Poonawala is the 170th richest person on earth.
Shiv Nadar
Founder – HCL Net worth – $21.4 Billion Industry – Software Services
Shiv Nadar, Founder of HCL | Top Richest Indians
Shiv Nadar is the Chairman Emeritus and founder of HCL and established the Shiv Nadar Foundation. He is a prominent industrialist and philanthropist. Nadar has committed more than $1 billion to philanthropy. He is ranked 5th in the Forbes list of richest persons in India (2022).
Nadar founded HCL in 1976. Nadar was honoured with the third highest civilian award, Padma Bhushan, by the Government of India in 2008. Madras university conferred upon Shiv Nadar an honorary doctorate degree in the year 2007. He was present in Forbes’ 48 Heroes of Philanthropy in the Asia Pacific in 2011.
Nadar was born on 14 July 1945 in Tamil Nadu. He currently lives in New Delhi. He pursued his degree in Electrical and Electronics Engineering from Coimbatore. Nadar is called “Magus” by his friends (meaning ‘wizard’ in Persian).
Savitri Jindal
Chairperson – O.P. Jindal Group Net Worth – $16.4 Billion Industry – Metals and Mining
Savitri Jindal, Chairperson of O.P. Jindal Group | Top Richest Indians
Savitri Jindal is the Chairperson Emeritus of the Jindal group that deals with steel, power, mining, and the oil and gas domains. The Jindal group is well-known in the manufacturing industry (every Indian knows about Jindal Steels). Savitri took over the company after the death of her husband OP Jindal in 2005 who founded the Jindal Group. After taking charge as the chairperson, the revenue of the company quadrupled.
Savitri Jindal is the richest woman in India. She was the world’s 453rd richest person in 2016. She is also the world’s seventh-richest mother. Savitri was a Minister in the Haryana Government and a member of the Haryana Vidhan Sabha from Hisar constituency.
She was born in Tinsukia, Assam and presently lives in Hisar, Haryana. She holds a diploma degree in Education. Her son Naveen is constantly in the limelight for his success as a businessman. She has nine children with Om Prakash Jindal.
Dilip Shanghvi
Founder – Sun Pharmaceuticals Net Worth – $15.5 Billion Industry – Healthcare
Dilip Sanghvi, Founder of Sun Pharma | Top Richest Indians
Dilip Sanghvi is the founder of Sun Pharmaceuticals which manufactures and sells pharmaceutical formulations and active pharmaceutical ingredients (APIs) primarily in India and the United States. He started the company in Vapi in 1982 with a capital of Rs. 10,000. Sun Pharma is the largest pharmaceutical company in India and the fifth largest in the world. Its drugs have always been in high demand with the major markets being India, the USA, and Japan.
Dilip Sanghvi was honoured with the Padma Shri in 2016. He is also a trustee of the Rhodes scholarship programme at Oxford University. He was appointed by the Indian government to the RBI’s 21-member central board committee.
Dilip Sanghvi was born on 1 October 1955, in Amreli, Gujarat. He pursued B.Com from the University of Calcutta. He did his schooling and graduated from J. J. Ajmera High School and Bhawanipur Education Society College respectively. Dilip Sanghvi is unanimously considered the richest businessman in the drug and pharma sector.
Hinduja Family
Ownership – Hinduja Group Net Worth – $15.2 Billion Industry – Diversified
Hinduja Family, Hinduja Group | Top Richest Indians
The Hinduja Group is one of the biggest Indian businesses with a strong international presence. Founded by Parmanand Deepchand Hinduja, the company is now run by his sons Shrichand, Gopichand, Prakash, and Ashok. Though the Hindujas are Indians, they have soaked in success while staying outside the country. The company headquarters is situated in London. This is also the reason behind the Hinduja Group featuring among the wealthiest companies in Britain.
Kumar Managalam Birla
Chairman – Aditya Birla Group Net Worth – $15 Billion Industry – Diversified
Kumar Birla, Chairman of Aditya Birla Group | Top Richest Indians
Kumar Birla is an Indian industrialist and the chairman of the Aditya Birla group. He is an educationist as well. Kumar Birla is the chancellor of the Birla Institute of Technology & Science (BITS). He is the chairman of IIT Delhi, IIM Ahmedabad, and the chairman of the Rhodes India Scholarship Committee for Oxford University. Kumar serves on the Asia Pacific Advisory Board of the London Business School and is an honorary fellow of the London Business School.
Kumar Mangalam Birla handed over the reins of the Birla Group at the age of 28 after the demise of his father in 1998. Under him, the company expanded from being valued at $3.33 billion in 1995 to $41 billion in 2015. He was felicitated with the “CEO of the Year” award by the International Advertising Association, and the Economic Times’ “Business Leader Award” in 2003 and 2013.
He was born on 14 June 1967 in Calcutta and brought up in Mumbai. He studied B.Com from the HR College of Commerce and Economics, has an MBA degree from the London Business School, and is a chartered accountant from the ICAI (India).
Bajaj Family
Ownership – Bajaj Group Net worth – $14.6 Billion Industry – Diversified
Bajaj Family Owners of Bajaj Group | Top Richest Indians
The Bajaj Group owns 40+ companies and the group’s flagship company—Bajaj Auto is ranked as the fourth largest two- and three-wheeler manufacturer in the world. The Bajaj Group is involved in industries such as home appliances, lighting, iron and steel, insurance, travel, and finance.
Bajaj Group was founded by a Rajasthani Marwari businessman, Jamnalal Bajaj, in 1926. Rahul Bajaj, the grandson of Jamnalal Bajaj, the late patriarch and former chairman, shared the family fortune with cousins. Following the passing of the patriarch in February 2022, Rajiv Bajaj, Rahul Bajaj’s older son, now leads Bajaj Auto, while Sanjiv Bajaj, Rahul Bajaj’s younger son, manages Bajaj Finserv—the family’s most significant asset.
Sanjiv Bajaj, Chairman and MD of Bajaj Finserv, leads the financial conglomerate within the Bajaj Group with 9M consolidated revenue of over Rs 58,447 crore ($7.14 billion)* and Rs 4,648 crore ($568 million)* profit after tax for FY2022-23. Under his leadership, Bajaj Finserv has emerged as a leading diversified financial services company in India, offering lending, insurance, and wealth advisory solutions.
Sanjiv Bajaj chairs Bajaj Finance, Maharashtra Scooters, Bajaj Finserv Asset Management, and Bajaj Housing Finance, among others. His contributions to the financial services sector have been widely recognized, including being honored as AIMA’s Transformational Business Leader 2023, among other prestigious honors.
Founder – Bharti Enterprises Net Worth – $14.5 Billion Industry – Telecom
Sunil Mittal, Founder of Bharti Enterprises | Top Richest Indians
Sunil Mittal is the founder of Bharti Enterprises, which has diversified interests in telecom, insurance, real estate, education, malls, hospitality, agriculture, and food. He was among the early birds who identified the potential in the mobile telecom business and came up with Airtel; Sunil dominated the telecom segment in India through Airtel until Mukesh Ambani stepped in with Jio. Bharti Airtel, a subsidiary of Bharti Enterprises, manages Airtel and is currently focusing on Asia and the African regions.
Sunil Mittal was awarded the Padma Bhushan in the year 2007. He was then elected as chairman of the International Chamber of Commerce in 2016. He is no stranger to laurels and recognition, having been the recipient of awards like Telecom Person Of The Year by Telecom Asia Awards, and Business Leader Of The Year by Economic Times to name a few.
Born on 23 October 1957 in Ludhiana, Punjab, he completed his education at Arya College and Punjab University. At the age of 18, he started his first business by borrowing Rs. 20000 from his father. His father was an MP from Ludhiana.
Uday Kotak
Founder – Kotak Mahindra Bank Net Worth – $14.3 Billion Industry – Finance and Investments
Uday Kotak, Founder, MD, and CEO of Kotak Mahindra Bank | Top Richest Indians
Uday Kotak is the founder, MD, and CEO of Kotak Mahindra Bank Ltd. Kotak Mahindra Bank. Anand Mahindra lent Rs. 1 lakh to Uday Kotak to start a financial services firm 30 years ago.
He was recognized as the “Most Powerful Person in The Financial World” by Forbes in May 2016. India Today magazine ranked him 8th in India’s most powerful person list of 2017. He was also the Ernst and Young World Entrepreneur of the Year in 2014.
Born on 15 March 1959 in Mumbai, Uday Kotak was brought up in an upper-middle-class Gujarati-Lohana joint family. He pursued his bachelor’s degree from Sydenham College of Commerce and Economics and holds an MBA degree from Jamnalal Bajaj Institute. He is a math wizard and topped his university in B.Com.
Shapoor Mistry and Family
Chairman – Shapoorji Pallonji Group Net Worth – $14.2 Billion Industry – Diversified
Shapoor Mistry, Chairman of Shapoorji Pallonji Group | Top Richest Indians
After the death of Pallonji Shapoorji Mistry and his younger son, Cyrus Mistry earlier in 2022, Shapoor Mistry (Pallonji Shapoorji’s elder son) now runs the Shapoorji Pallonji Group. He serves as the Chairman of the Shapoorji Pallonji Group. The family holds also holds an 18.4% stake in Tata Sons.
Shapoor Mistry, the patriarch’s older son and group Chairman, now oversees the family’s $14.2 billion fortune, which is primarily derived from a minority stake in the sprawling Tata conglomerate.
Godrej Family
Ownership – Godrej Group Net Worth – $13.9 Billion Industry – Diversified
Adi Godrej, Chairman Emeritus of Godrej Group | Top Richest Indians
The Godrej company has existed since 1897 and is present in almost every imaginable sector of the Indian economy. The company was founded by Pirojsha and Ardeshir Godrej. The empire is now run by their grandsons Adi, Nadir, and Jamshyd. Adi Burjorji is the head of the Godrej family and the chairman of the Godrej Group. He has been the chairman of the Indian School of Business since April 2011.
Ardeshir decided to make locks after seeing the crime rates in 1897. His brother joined him in his venture and the rest is history. Smita Godrej is a third-generation heir of the Godrej family. On a lighter note, almost every family in India still has a Godrej almirah that’s at least 20 years old!
Lakshmi Mittal
Chairman – ArcelorMittal Net Worth – $13.8 Billion Industry – Metals and Mining
Lakshmi Mittal, Founder and Chairman of ArcelorMittal | Top Richest Indians
Lakshmi Niwas Mittal is an Indian steel magnate, Founder, and Chairman of ArcelorMittal. He is the owner of Karrick Limited and the co-owner of Queens Park Rangers F.C. He is popularly known as the King of Steel. In 2007, he became the richest Asian in Europe. His empire has been subjected to a minor slowdown after the acquisition of an Italian company but Lakshmi Mittal continues to grow every day with his companies consistently reporting double-digit growth year in, and year out.
Lakshmi Niwas Mittal is on the board of directors of the European Aeronautic Defence and Space Company. He is a member of the independent board of directors at Goldman Sachs since 2008. He is also associated with several charities and firmly supports the development of Indian athletes.
Lakshmi Mittal was born on 15 June 1950 in Sadulpur, Rajasthan to a traditional Marwari family. He currently resides in London. He pursued his B.Com degree from St. Xavier’s College, Calcutta. Mittal is known for his lavish lifestyle and incredible success statement; the steel tycoon spent approximately $60 million on his daughter Vanisha Mittal’s nuptials. The spectacle features in Forbes’ top ten most outrageous billionaire weddings.
Madhukar Parekh
Chairman – Pidilite Industries Net Worth – $12.6 Billion Industry – Manufacturing
Madhukar Parekh, Chairman of Pidilite | Top RIchest Indians
Madhukar Balvantray Parekh is the chairman and executive director of Pidilite Industries, an organization dealing in adhesives and construction chemicals. Fevicol, Dr. Fixit, M-Seal, Fevikwik, and Fevistik are some of the big names in the Pidilite chain.
Parekh serves as the Chairman, executive director, and MD of Vinyl Chemicals India Limited. He is also an independent non-executive director of Excel Industries Limited. Under his leadership, the company won many prestigious awards such as the ‘Most Promising Company of the Year’ at CNBC, and the 11th India Business Leader Awards.
Madhukar was born in 1945 in Mumbai. He currently lives in Mumbai. Parekh is a Gold medalist holder from the Institute of Chemical Technology (ICT), a leading chemical technology research institute in India. His father Balvantray Kalyanji Parekh was the founder of Pidilite Industries. Balvantray was popularly known as ‘India’s Fevicol Man’.
Burman Family
Ownership – Dabur India Net Worth – $9.6 Billion Industry – Consumer Goods
Burman Family, Dabur | Top Richest Indians
The Burman family is responsible for giving us Indians Dabur Chyawanprash, a health product that graces the kitchen shelf of every other Indian. An Ayurvedic practitioner Dr. S.K. Burman started the business in the 1880s. His son then went on to set up a research and development facility and also began the mass production of medicines in 1884. Dabur Ltd. is presently handled by the fifth generation of the Burman household. However, Fresenius SE which is based out of Germany controls more than 73.3% of Dabur Pharma Ltd.
Azim Premji
Founder – Wipro Net Worth – $9.3 Billion Industry – Technology
Azim Premji – Founder of Wipro | Top Richest Indians
Azim Premji is referred to as the Czar of the Indian IT Industry. He is an Indian billionaire, business tycoon, investor, philanthropist, and the founder of India’s third-largest software company—Wipro Limited. Wipro Limited is an India-based IT, consulting, and business process services (BPO) company headquartered in Bengaluru, India. Azim Premji is also the richest person in Karnataka.
The Government of India honoured Azim Premji with Padma Bhushan in 2005 and awarded him the Padma Vibhushan, the second highest civilian award, in 2011 for his excellent work in the field of trade and commerce.
Premji was born on 24 July 1945 in Mumbai and currently resides in Bangalore. Premji pursued Electrical Engineering (equivalent to a Bachelor of Engineering) from Stanford University, USA. He took over his family’s cooking oil business after the death of his father in 1966. He is also the first Indian to sign up for The Giving Pledge, a campaign led by Bill Gates and Warren Buffett. The Giving Pledge focuses on encouraging the wealthiest individuals to give away most of their money to philanthropic causes.
Kushal Pal Singh
Former Chairman – DLF Ltd. Net Worth – $8.8 Billion Industry – Real Estate
Kushal Pal Singh, Chairman Emeritus of DLF | Top Richest Indians
Kushal Pal Singh is the former CEO and chairman of DLF Limited. DLF Ltd. (Delhi Land and Finance) is India’s largest commercial real estate developer. DLF Limited was founded by his father-in-law Chaudhary Raghvendra Singh.
Singh was honoured with Padma Bhushan Award on 26 January 2010 by the Government of India. He was recognized by Forbes magazine as the richest real estate baron and the eighth richest person in the world on 24 March 2008.
KP Singh was born on 15 November 1931 in Uttar Pradesh. He did Aeronautical Engineering in the UK and was also selected for the Indian Army by the British Officers Services Selection Board, UK. An Autobiography named ‘Whatever the Odds: The Incredible Story Behind DLF’ was launched in 2011.
Ashwin Dani
Non-Executive Director – Asian Paints Ltd. Net worth – $8.4 Billion Industry – Manufacturing
Ashwin Dani, Non-Executive Director of Asian Paints | Top Richest Indians
Ashwin Dani is a businessman and the non-executive Director of India’s largest paint company, Asian Paints Ltd. His full name is Ashwin Suryakant Dani. He won the Color Society Lifetime achievement award in the year 2012.
Ravi Jaipuria
Chairman – RJ Corp Net worth – $8.1 Billion Industry – Manufacturing
Ravi Jaipuria, Chairman of RJ Corp | Top Richest Indians
Ravi Jaipuria is an Indian billionaire businessman and Chairman of RJ Corp. Under RJ Corp, he manages Devyani International which operates many large beverage and fast food brands like KFC, Pizza Hut, and more.
Varun Beverages, the other listed company under RJ Corp, is the second-largest bottling partner for PepsiCo’s soft drink brands. Ravi is famously known as India’s cola king.
Kuldip Singh & Gurbachan Singh Dhingra
Owners – Berger Paints India Net worth – $6.8 Billion Industry – Manufacturing
Kuldip Singh (left) and Gurbachan Singh Dhingra, Berger Paints | Top Richest Indians
The brothers control India’s second-largest paint maker company, Berger Paints. Kuldip Singh and Gurbachan Singh bought Berger from Vijay Mallya. Kuldip Singh serves as the Chairman and Gurbachan Singh Dhingra serves as the Vice Chairman of Berger Paints India.
Vikram Lal
Founder – Eicher Motors Net Worth – $6.6 Billion Industry – Automotive
Vikram Lal, Founder and Former CEO of Eicher Motors | Top Richest Indians
Vikram Lal is the founder and former CEO of Eicher Motors which manufactures motorcycles and commercial vehicles. He is also the president of Common Cause, a public interest NGO pursuing major issues relating to reform, governance, and the enforcement of the law.
Eicher Motors is the parent company of Royal Enfield, a manufacturer of middleweight motorcycles. Eicher Motors holds a majority stake of 60% in Royal Enfield. His son Siddharth Lal is the current CEO of Eicher Motors and Royal Enfield.
Lal was born in 1942 in Delhi and presently lives in Delhi. He pursued his Bachelor’s in Mechanical Engineering from Technical University Darmstadt in West Germany. He is also on the board of directors of ‘The Doon School’. His NGO, Goodearth Education Foundation (GEF), has been working with state governments and other NGOs in primary education for more than 10 years.
Mahendra Choksi
Company – Asian Paints Net worth – $6.5 Billion Industry – Manufacturing
Mahendra Choksi is the son of one of the four co-founders of Asian Paints. Family patriarch Ashwin Choksi, under whom the fortune was previously listed, died in September 2018. Mahendra is the late Ashwin Choksi’s brother. Mahendra’s son, Manish, is the company’s non-executive vice chairman.
Murali Divi
Founder – Divi’s Laboratories Net Worth – $6.45 Billion Industry – Healthcare
Murali Divi, Founder of Divi’s Laboratories | Top Riches Indians
Murali Divi is a U.S.-trained scientist who founded generics maker Divi’s Laboratories 30 years ago as a drug research firm. Today, Divi’s Laboratories is among the world’s top suppliers of active pharmaceutical ingredients. The company’s revenue is estimated to be $1.2 billion in 2022.
Sudhir & Samir Mehta
Owners – Torrent Pharma Net worth – $6.4 Billion Industry – Healthcare
Sudhir and Samir Mehta, Torrent Pharma | Top Riches Indians
Sudhir Mehta and Samir Mehta changed the fortunes of a struggling Trinity laboratory by manifesting it into Torrent Pharma. Torrent has a solid presence in Russia, Brazil, and many other European countries. The Torrent group also tried its hands at generating electricity; today, Torrent Power has a 2,101 Mw generation capacity and distributes power to 2.76 million customers in parts of Gujarat.
Vinod & Anil Rai Gupta
Owners – Havells India Net worth – $6.3 Billion Industry – Manufacturing
Anil and Vinod Rai Gupta, Havells | Top Richest Indians
Havells was founded by Qimat Rai Gupta. Anil Rai is the son of Vinod Gupta (wife of the late Qimat Gupta). Together they own 60% of Havells India, their primary source of wealth. Havells makes everything—from electrical equipment and lighting products to washing machines and refrigerators. The company’s products are available in more than 60 countries in the world.
Hasmukh Chudgar
Founder – Intas Pharmaceuticals Net worth – $6.2 Billion Industry – Pharmaceuticals
Hasmukh Chudgar, Founder of Intas Pharmaceuticals | Top Richest Indians
With a net worth of $6.3 billion, Chudgar is placed at 28th position on the list of India’s richest persons. Hasmukh Chudgar founded the generics maker Intas Pharmaceuticals in 1977. Intas bought the Irish and UK assets of Israeli firm Teva Pharmaceuticals for $764 million in October 2016.
Benu Gopal Bangur
Chairman – Shree Cement Net Worth – $6 Billion Industry – Manufacturing
Benu Gopal Bangur, Chairman of Shree Cement | Top Richest Indians
The Bangur business empire came into existence in the year 1979. Gopal Bangur is the owner of Shree Cement, the leading cement producer in India. He is also the Chairman of the board of NBI Industrial Finance Co. Ltd. and the director of Khemka Properties Pvt. Ltd. Gopal is ranked 29th on the list of richest people in India by Forbes.
Benu Bangur holds a 65% stake in Shree Cement. Shree Ultra Ordinary Portland Cement, Shree Ultra Jung Rodhak, Bangur Cement, and Tuff Cemento 3556 are the crown jewels of Shree Cement.
Bangur was born in 1931 in Kolkata to a Marwari business family. He is a widow with two children and currently resides in Kolkata. Benu has a Bachelor’s degree in Commerce from Calcutta University. He runs a Sanskrit school to promote Indian heritage and culture.
Rekha Jhunjhunwala
Company- Rare Enterprises Net Worth – $5.9 Billion Industry – Finance and Investments
Rekha Jhunjhunwala | Top Richest Indians
After Rakesh Jhunjhunwala’s (popularly referred to as the Indian Warren Buffet and the Big Bull of the Indian Share Market) death in August 2022, his wife, Rekha Jhunjhunwala replaced him on the list of India’s richest people. She inherited a valuable stock portfolio from her late husband and stands in the 30th position on Forbes India’s rich list. Their portfolio includes popular names like Titan, Star Health and Allied Insurance, Crisil, and more.
Murugappa Family
Company- Murugappa Group Net Worth – $5.8 Billion Industry – Diversified
M M Murugappan, Chairman of Murugappa Group | Top Richest Indians
The Murugappa family owns and manages the Murugappa Group, a conglomerate founded in 1900. The Group was founded by Dewan Bahadur A. M. Murugappa Chettiar. Murugappa Group is involved in diversified businesses like engineering, agriculture, financial services, and more. At present, M M Murugappan serves as the Chairman of the Group.
Harsh Mariwala
Chairman – Marico Net worth – $5.7 Billion Industry – Consumer Goods
Harsh Mariwala, Chairman of Marico | Top Richest Indians
Harsh Mariwala started Marico, the consumer goods company which deals in health and beauty products. Popular hair products like Set Wet, Livon, and Nihar are some of Marico’s offerings. Harsh Mariwala is also the founder of Kaya skincare Ltd. Mariwala’s net worth is $5.7 billion and he has been ranked as the 32nd wealthiest Indian by Forbes.
Vijay Chauhan
Chairman – Parle Products Net worth – $5.5 Billion Industry – Food and Beverage
Vijay Chauhan, Chairman of Parle Products | Top Richest Indians
Vijay Chauhan is the patriarch of the family that controls Parle Products. He serves as the chairman of the company. Parle Products Company was founded in 1929 by Mohanlal Chauhan. The company is famous for its most popular product, Parle G glucose biscuits. At present, he, along with Raj Chauhan and Sharad Chauhan, controls and manages the company.
Founders – Macleods Pharmaceuticals Net Worth – $5.45 Billion Industry – Healthcare
Girdhari Lal (in picture), Rajendra Agarwal, and Banwari Lal Bawri, Macleods | Top Richest Indians
Girdhari Lal Bawri, Rajendra Agarwal, and Banwari Lal Bawri belong to a family that owned a pharmacy in Jaipur and made anti-TB medicines. The privately held company, Macleods Pharmaceutical, now produces generics for a range of diseases, including asthma, osteoporosis, and diabetes. Agarwal, the youngest sibling, is a qualified doctor and the company’s managing director. Older brothers Girdhari Lal and Banwari Lal are chairman and joint managing director respectively.
M.A. Yusuff Ali
Founder – LuLu Group International Net worth – $5.4 Billion Industry – Fashion and Retail
M.A. Yusuff Ali, Founder of LuLu Group International | Top Richest Indians
M.A. Yusuff Ali is the founder and MD of LuLu Group International. The Lulu Group owns various malls and hypermarkets all around the world. After completing his studies, Yusuff shifted to Abu Dhabi and joined his uncle in his business. He launched the first Lulu store in 1990 and hasn’t looked back since then. The business tycoon is aggressively expanding his chain of malls in India with states like Kerala being the entry point.
Vakil Family
Company – Asian Paints Net worth – $5.2 Billion Industry – Manufacturing
Nehal Vakil (in picture) Vakil Family, Asian Paints | Top Richest Indians
Abhay Vakil, the son of Arvind Vakil (one of the co-founders of Asian Paints), was an Indian billionaire businessman and a non-executive director of Asian Paints Ltd. Brothers Abhay and Amar Vakil passed away in the year 2021, and now the third generation of the Vakil family runs Asian Paints. Nehal Vakil, Abhay Vakil’s daughter, became a non-executive director of the company after her father’s demise.
The Vakil Family stands at the 36th position on the Forbes list of the richest Indians in 2022.
Mangal Prabhat Lodha
Founder – Macrotech Developers Net worth – $5.1 Billion Industry – Real Estate
Mangal Prabhat Lodha, Founder of Macrotech Developers | Top Richest Indians
Mangal Prabhat Lodha is an Indian businessman and politician. He founded Lodha Group, now Macrotech Developers, a Mumbai-based real estate developer in 1980. He started the group by building middle-class homes in Mumbai’s suburbs.
He is the Minister of Ministry of Tourism, Ministry of Skill Development and Entrepreneurship, Maharashtra. He was also the president of the Bharatiya Janata Party’s Mumbai unit.
Kapil & Rahul Bhatia
Company – InterGlobe Enterprises Net worth – $4.9 Billion Industry – Service
Kapil and Rahul Bhatia (in picture), IndiGo Airlines | Top Richest Indians
Rahul Bhatia is the co-founder and non-executive director of IndiGo airlines. He is also the group managing director of InterGlobe Enterprises. It is a privately held firm which has vested interests in the airline, travel, and hotel segments. He won awards such as the Ernst & Young Entrepreneur of the Year Award and the Economic Times Entrepreneur of the Year award. Kapil Bhatia is Rahul Bhatia’s father and the joint owner of InterGlobe Aviation. The father-son duo’s net worth is $4.9 billion, as of 2022.
Pavan and Vivek Jain
Company – INOX Group/ INOXGFL Group Net worth – $4.55 Billion Industry – Manufacturing
Pavan and Vivek Jain, INOX | Top Richest Indians
In 2021, Devendra Jain divided the family’s assets in Inox Group between his two sons, Pavan and Vivek Jain. Pavan is the elder son and serves as the Chairman of the Inox Group, which includes medical gas maker Inox Air Products and movie theatre chain Inox Leisure Ltd. Vivek on the other hand is chairman of the InoxGFL group which includes chemical maker Gujarat Fluorochemicals; Inox Wind and wind farm maintenance company Inox Green Energy Services.
Singh Family
Company – Alkem Laboratories Net worth – $4.5 Billion Industry – Healthcare
Singh Family, Alkem Laboratories | Top Richest Indians
The Singh family inherited a majority stake in Alkem Laboratories after its founder Samprada Singh passed away in July 2019. Alkem Laboratories is one of the top generics companies in India with more than 20 factories across India and the US. At present, Basudeo Narain Singh, Singh’s cousin is the Executive Chairman of the company.
N.R. Narayana Murthy
Company – Infosys Net worth – $4.3 Billion Industry – Technology
N.R. Narayana Murthy, Infosys | Top Richest Indians
N.R. Narayana Murthy is one of the founders and chairman emeritus of the Indian multinational information technology company, Infosys. He served as the CEO, Chairman, President, and chief mentor of the company before his retirement. Time magazine and CNBC have described Murthy as the “father of the Indian IT sector” for his great contribution to outsourcing in India.
He has also been honoured with the Padma Vibhushan and Padma Shri, the prominent civilian awards of the Republic of India.
Ramesh Juneja
Company – Mankind Pharma Net worth – $4.2 Billion Industry – Healthcare
Ramesh Juneja, Chairman of Mankind Pharma | Top Richest Indians
Ramesh Juneja co-founded Mankind Pharma, one of the leading pharmaceutical companies in India, with his brother Rajeev Juneja in 1995. He is currently the Chairman of Mankind Pharma. Ramesh Juneja has held different positions in many pharmaceutical companies in India, like KeePharma Ltd., Lupin, etc.
He is now one of the richest Indians, ranking 42nd on the Forbes List of the Top 100 Richest Indians, 2022.
P.P. Reddy
Chairman – Megha Engineering & Infrastructure Net worth – $4.1 Billion Industry – Engineering and Infrastructure
P.P. Reddy, Chairman of Megha Engineering & Infrastructure | Top Richest Indians
Megha Engineering & Infrastructure was founded in 1989 by P.P. Reddy, a farmer’s son, to make small pipes for the municipality. P.P. Reddy later expanded his business to build infrastructure projects. His nephew, P.V. Krishna Reddy, who joined P.P. Reddy in 1991, runs the company.
Falguni Nayar
Founder – Nykaa Net worth – $4.08 Billion Industry – Beauty and Lifestyle
Falguni Nayar, Founder and CEO of Nykaa | Top Richest Indians
Falguni Nayar is an Indian businesswoman who is famously known as the founder and CEO of Nykaa, the leading beauty and lifestyle retail company in India. Nayar founded Nykaa in 2012 with $2 million of her own money, and by 2020, it had become India’s first unicorn startup led by a woman. Nykaa opened its IPO in October 2021, which made Nayar the first Indian woman to lead the public listing of a startup.
Falguni has a net worth of $4.08 billion (2022) and is one of the two self-made female Indian billionaires, the other being Kiran Mazumdar Shaw.
Muthoot Family
Company – Muthoot Finance Net Worth – $4.05 Billion Industry – Financial Services
Muthoot Family | Top Richest Indians
Muthoot Group was founded in 1887. India’s leading lender against gold, Muthoot Finance, is managed and controlled by the Muthoot family. Shri George Jacob Muthoot is the current group chairman of the Muthoot Group of companies.
Chandru Raheja
Company – Mindspace Business Parks REIT (backed by K Raheja Corp.) Net Worth – $4 Billion Industry – Real Estate
Chandru Raheja, Chairman of K Raheja Corp. | Top Richest Indians
Chandru Raheja is an Indian billionaire businessman and the chairman of K Raheja Corp. He formed K Raheja Corp. in 1996, which is involved in the development of IT parks, hotels, and malls, as well as the operation of department store chains such as Shoppers Stop. The company’s important projects include JW Marriott in Mumbai, Inorbit Mall, Mindspace, etc.
Yusuf Hamied
Non-Executive Chairman – Cipla Net worth – $3.9 Billion Industry – Pharmaceuticals
Yusuf Hamied, Non-Executive Chairman of Cipla | Top Richest Indians
Cipla was founded in 1935 by Yusuf’s father Khwaja Abdul Hamied, who passed away in 1972. Yusuf Hamied and his brother then took over the family business. In 2020, Cipla launched a range of drugs to treat Covid-19, including a generic version of Remdesivir manufactured under a license from Gilead Sciences.
Sridhar Vembu and Siblings
Company – Zoho Corporation Net worth – $3.8 Billion Industry – Technology
Sridhar Vembu (in picture) and Siblings, Zoho Corporation | Top Richest Indians
Sridhar Vembu is the founder and CEO of Zoho Corporation, a technology company that makes computer software and web-based business tools. Sridhar owns a majority stake in Zoho with his siblings.
Vembu was awarded the Padma Shri, the fourth-highest civilian award of the Republic of India, in 2021.
Pankaj Patel
Chairman – Zydus Lifesciences Net worth – $3.77 Billion Industry – Pharmaceuticals
Pankaj Patel, Chairman of Zydus Lifesciences | Top Richest Indians
With the title of “Best Pharma Man of the Year 2003” under his belt, Pankaj Patel undoubtedly deserves the respect he gets. Pankaj is popularly known as a “pharma magnate.” He is the current chairman of Zydus Lifesciences Limited, the leading pharmaceutical company in India. He is also the founder and chairman of Zydus Hospitals.
Ravi Modi
Company – Vedant Fashions Net worth – $3.75 Billion Industry – Fashion and Retail
Ravi Modi, Founder of Vedant Fashions | Top Richest Indians
Ravi Modi founded Vedant Fashions, a manufacturer of Indian ethnic wear, in 2002, and the company went public in 2022. He serves as the Chairman and Managing Director of the company. The company’s flagship brand, Manyavar, is famous all over India and is the category leader in the branded Indian wedding and celebration wear market.
Reliance Industries is not unknown to the people of India and of the world now. Founded in May 1973, Reliance Industries is headquartered in Mumbai.
It was a landmark step when Reliance Jio Infocomm Limited was launched after Reliance Industries bought a majority stake in Infotel Broadband Services Limited (IBSL). This made the telecommunication sector of Reliance run like never before.
JioMart resulted when Reliance Industries converged with Jio Platforms, the parent of Reliance Jio Infocomm Limited, which does its business as Jio.
The JioMart services were initially soft-launched in December 2019, and then launched in the selected areas of Thane, Navi Mumbai, and Kalyan in April 2020. These services were eventually expanded to over 200 towns across the country, after it was fully launched in May 2020.
The latest venture by Mukesh Ambani has offered grocery delivery at the doorstep amid the deadly coronavirus outbreak. It continues to help the users procure groceries and numerous other products from a wide range of categories including fashion, home essentials, lifestyle products, and more, which it expanded to ever since it was established.
JioMart currently competes with other prominent grocery delivery services like Amazon, Flipkart, and Big Basket in India.
JioMart, Reliance Jio’s shopping portal, is now open for orders altogether metros and places like Mysuru, Visakhapatnam, Coimbatore, Dehradun, and Bhatinda where consumers can place the order for the required grocery.
JioMart is currently growing in its sales through local kiranas that it keeps on onboarding on its platform, alongside servicing orders via its Reliance Fresh and Smart stores. Furthermore, it is also open with distribution centers in areas where orders through kiranas aren’t serviceable.
JioMart delivers a good range of products including fruits, vegetables, groceries, bakery products, beverages, household products, packaged food, and more. The JioMart website is jiomart.com.
This Reliance Jio and Reliance Retail-powered platform operates through neighbourhood stores, supermarkets, hypermarkets, wholesale and online stores. The company integrated its registered customer database from Reliance Fresh, Reliance Smart and other retail businesses into JioMart.
JioMart said the following in a statement- “We offer you the convenience of shopping everything that you need for your home – be it fresh fruits & vegetables, rice, dals, oil, packaged food, dairy item, frozen, pet food, household cleaning items & personal care products from a single virtual store.”
The chief executive of grocery retail at Reliance Retail, Damodar Mall tweeted, “Never waste a crisis, they say! Big town or small, JioMart delivers in over 200 towns. Chinese e-commerce giant Alibaba (BABA) “flourished” during the 2003 SARS pandemWe seek similar opportunities by fulfilling the requirements during these tough times”.
JioMart | Desh ki Nayi Dukan
JioMart – Industry
Indian Online Food and Grocery Market Growth
JioMart belongs to the online food and grocery industry. This industry has grown from 2013-2018 at a CAGR of 71.2%, and is expected to grow at a CAGR of 45.5% between 2018-2023.
JioMart – Growth
JioMart has certainly been a successful pilot and has grown well throughout these couple of years. Some of the major growth highlights of JioMart are:
JioMart witnessed a 3X increase in its merchant base in its grocery delivery vertical in the Q4 FY2021.
It expanded services to 10 new cities during the same fiscal
JioMart sees strong traction from Tier 3 cities and beyond
The company has seen a 3X growth in its order frequencies
JioMart has already onboarded over 300K merchants including kiranas and small merchants
Served over 1 mn customers, as reported on January 26, 2021
JioMart continues to scale up. It achieved a 3X growth in product assortment, 1.5X growth in order frequency, and has grown by 20% growth in average basket value (ABV).
The ecommerce platform also witnessed an 80% repeat order growth in Q4 FY2021
JioMart is also available on WhatsApp, on which the users can place orders for their groceries and other necessities.
JioMart Express
JioMart has launched JioMart Express in view of foraying into the popular quick commerce space in June 2022. The platform was piloted in Navi Mumbai and currently spans over 3K+ SKUs, which includes groceries, and personal and home care products.
Though the quick commerce wing of JioMart and how it operates is not quite clear now, with some reports claiming that it is using Dunzo’s delivery fleet and local kirana stores as hyperlocal hubs, and others suggest that the Reliance Retail stores, the business is gaining popularity fast.
JioMart Express is currently looking to expand its services to 200+ cities by the next fiscal. This new business of Reliance Retail and Jio will soon be operating in several other categories like medicines as well as small electronic products including smartphones.
Benefits of JioMart Express
Quick commerce delivery, which is fast becoming the trend with the likes of Zepto, Blinkit, Dunzo, Swiggy Instamart, and more, is springing numerous players from across industries, and this finally got to Reliance which is already one of the powerful names in a range of industries. This eventually led to the launch of JioMart Express. This quick commerce wing of JioMart will certainly be effective for the users in many ways. Here’s a look at the benefits of JioMart Express:
Express 90 minutes delivery
3000+ grocery and essentials
No minimum order value
Numerous discount coupons and other options
Quality of Reliance
Redemption of points
Flexible online payments
JioMart – Partnerships
Facebook Inc. (now known as Meta) bought a 9.99% stake for $5.7 billion (Rs 43,574 crore) in Reliance Industries’ digital unit, Jio Platforms, on April 22, 2020. That partnership helped Reliance roll out its service for India’s grocers and little businesses by using India’s 400 million strong user base for Facebook’s WhatsApp messaging service. Three days after the deal, JioMart made its service live online via WhatsApp.
JioMart mainly partners with a huge collection of local kirana stores that helps the platform grow. It has also partnered with numerous UPI platforms to make the payment journeys easy for the customers.
ePayLater collaborated with JioMart on August 3, 2022, which will help the platform offer line of credit to its B2B customers. This is the last partnership that JioMart saw.
JioMart – Logo and Tagline
JIoMart Logo
While mentioning JioMart, Mukesh Ambani, the head honcho of Reliance, said “Customer aapka, Support humara”, which means that JioMart will extend enormous support to the local vendors and kirana owners.
JioMart – Business and Revenue Model
JioMart operates in an O2O (offline to offline) business model. With JioMart the local kiranas and vendors will receive orders online, which will be delivered as per the latest time slots. The JioMart business model brings the trio – producers, customers and the kiranas together under the same platform.
First of all, the Kirana owners should register. After applying for JioMart Kirana registration, JioMart will help those Kirana stores to make their Kirana shop go digital to receive orders via WhatsApp. Once the order is placed by the Kirana stores then a confirmation message is sent to the user to pick up the order from the store.
The JioMart app is available on Apple and Google Play Store. JioMart is currently available as a mobile and desktop website. The services of JioMart can also be availed via Facebook-owned instant messaging app WhatsApp.
To check if JioMart’s service is open in your location or not, you need to enter your pin code in the ‘Delivering to’ field on the website. If you get a green signal, it means the service is there in your area. Otherwise, a message in red appears, “We are currently not available at this location. Stay tuned!”
The ‘search with list’option is the handiest feature of this site. You can simply paste or write the entire product list in this section instead of searching one by one. The website will search for the products sequentially for you. You need to place your choice in the cart.
To place an order, one needs to log on to jiomart.com. If the order value is less than ₹750, a nominal delivery fee of ₹25 will be added. Above an order value of ₹750, JioMart offers free delivery. The customer can pay either online or offline.
JioMart – Payment and Delivery Options
Jio has integrated many payment options such as e-wallets and UPI on the website. The company has incorporated almost all kinds of payment methods. Various e-wallets like Paytm, PhonePe, JioMoney, Google Pay, and MobiKwikare also supported. The website has a Net Banking option along with the Credit/Debit card provisions. If not online, one can also go for cash on delivery (COD).
One of the things that the users might find inconvenient is that JioMart does not offer same-day delivery. The orders are generally delivered within two days. If there happens to be a lockdown or if similar strictures are imposed, the delivery time may get extended in some cases. However, this would be solved with JioMart Express, which is the quick commerce arm of JioMart.
Some improvements are required like changes to the searching process. The problem is that a particular product might be named differently according to the local language, which can hamper the search for that product. The search algorithm needs to detect such discrepancies. Otherwise, the website cannot cater to different customer requirements.
JioMart – How will it affect Competitors?
JioMart, promoted as ‘Desh ki Nayi Dukan’, offers free express grocery delivery from neighborhood grocery or Kirana stores. JioMart’s launch comes as India is witnessing an increase in coronavirus cases. Officials have said that the product catalog on JioMart’s website will be expanded once the lockdown restrictions are lifted. JioMart will then work at its full capacity.
JioMart is undoubtedly a tough competitor to other online grocery shops like BigBasket and Grofers (now Blinkit). JioMart offers fresh food, pulses, packaged food, household cleaning items, pet food, and other categories of products on its website. It is all set to take on the big players such as BigBasket, Blinkit, Amazon Fresh and Pantry, and Flipkart’s Supermart.
Amazon (AMZN) and Walmart-owned (WMT) Flipkart are the two dominant e-commerce platforms in India. Both companies operate in hundreds of cities across the country. They deliver goods such as smartphones, electronics, and clothing. Both companies also launched online grocery deliveries last year. JioMart’s launch is a reason for worry for Amazon and Flipkart because they are not very strong in the grocery segment.
JioMart’s expansion also comes as millions of Indians remain under lockdown because of the coronavirus pandemic. Amazon and Flipkart have also faced difficulty delivering orders across India during the Covid-19 pandemic. This is due to the restrictions imposed on traveling from one city to another. The lockdown required the company to accelerate expansion plans with increasing warehouse capacities.
Due to the lockdown imposed in India, Flipkart temporarily suspended services and Amazon had to limit orders as it responded to increased demand. Despite the various complexities and challenges of zonal restrictions and supply chain disruption, Flipkart and other e-commerce companies have worked to deliver essential goods while considering the safety of their employees. It will pose a formidable challenge to local rivals who are also betting big on groceries for their growth.
According to investment research firm Bernstein, grocery constitutes 70% of the Indian retail market. More than 90% of the market is unorganized and driven by kirana stores. The overall retail market is expected to double in size from $676 billion in 2018 to nearly $1.3 trillion by 2025, according to Bernstein.
According to Forrester, India’s online grocery market is small by comparison and worth around $3 billion this year. But the firm says that the number is growing fast as the pandemic changes people’s shopping habits. JioMart was launched in December last year with the goal of connecting 3 crore kiranas or grocery stores with local consumers online.
Reliance is on a fundraising spree through Jio Platforms, which includes the telecom venture Jio Infocomm. It has raised a massive $10 billion from investors including Facebook, KKR, and General Atlantic in a month. JioMart is selling shares worth $7 billion (around Rs. 53,000 crores).
Bernstein and Forrester’s analysts say JioMart is well placed to disrupt the online grocery market because it can source supplies from Reliance’s brick-and-mortar stores. Reliance is India’s largest retail operator. If JioMart manages to get kiranas online and organized, it will also have a hyper-local supply and logistics chain that can be used to meet the demand.
Conclusion
Competitions are everywhere. In order to survive in the market, the companies should keep improving, provide better options, should solve problems, and keep thriving to become better than its competitor.
The platform is certainly one of the most revolutionary approaches of Reliance that has already helped numerous users across the country, who now have an access to a majority of all that they might want including groceries and essentials. JioMart is a blessing in disguise for the Kirana owners.
Reliance’s JioMart has already roped in over 300K Kirana stores and local vendors/merchants across the country and is planning to increase the number rapidly across India. Later the company is planning to make these stores JioMart franchises to source products directly from Reliance retails and make them fully digital. All the orders can be fulfilled by the local Kirana stores.
FAQs
How do I shop from JioMart?
Download the JioMart App & Register with your Mobile Number. Login – Select City, Enter Pin code. Select from a wide range of categories to choose from. Add items to cart, complete payment & check out.
How JioMart will work?
JioMart is essentially an aggregator between customers and nearby stores, in a similar way that other online delivery aggregators work. This saves JioMart from separately acquiring customers on its platform, which is a key barrier when a new app or a service is launched.
What is the minimum order for JioMart?
Initially, JioMart required a minimumorder value of Rs 750 for free delivery. Existing players like Alibaba-backed Bigbasket, Amazon India, or Flipkart typically require upwards of Rs 600 order size for free delivery.
Is JioMart available in Vizag?
Reliance’s online shopping portal, JioMart, is now open for orders in 200 cities including all metros and places such as Mysuru, Visakhapatnam, Coimbatore, Dehradun, and Bhatinda.
Is JioMart available on Whatsapp?
After JioMart partnered with Facebook-owned Whatsapp, the platform now offers the users the facilities of ordering their groceries and essentials as per their requirements via the Whatsapp platform itself.
Company Profile is an initiative by StartupTalky to publish verifiedinformation ondifferent startups and organizations. The content in this post has been approved by Jio.
When do you think a revolution came in the telecommunication industry? Well, the most common answer is after the launch of Mukesh Ambani’s Jio. This company made an incredible entry into the Indian mobile telecom sector with the most exclusive cost leadership strategy that revolutionized the whole market of telecommunication. But how do you think did that happen?
Was it the investments in the company or the business model or Mukesh Ambani’s strategic plans?
To know more about How Jio Started, information about Jio company, the Success Story of Reliance Jio, and how Jio changed India, you go through this StartupTalky article.
When Anil Ambani and Mukesh Ambani had a split in the year 2005, it was one of the biggest de-merger in the industry. The dream project of Mukesh Ambani that was Reliance Infocom, became a part of the Anil Ambani Group. Furthermore, Mukesh Ambani went on to acquire the company Infotel Broadband Services Limited, which was the only successful bidder across India for the 4G network.
This is when Mukesh Ambani’s Reliance Limited started working on establishing a base for a high-speed optical fiber 4G network which is much more capable than 4G. The company was named Reliance Jio Infocom Ltd popularly known as Jio today. Jio was the first network to provide 4G LTE services and VoLTE services.
Jio launched these services on 5th September 2016 for all the users and also launched its smartphone series with the name LYF. Reliance Jio Infocom Ltd (RJIL) focused on high-speed data instead of voice and SMS. On its launch, the company announced data plans with 1GB 4G data per day in the market where mostly all popular telecom providers offered 1GB data per month.
This was a game-changer by RJIL in the price-sensitive market of India as the prices before that revolved around Rs 250-300 for 1 GB 4G data, which went down to Rs 5 per GB during the initial days. Along with these amazing plans, Jio also started offering free voice calling and free 100 SMS per day for all its Prime members.
JioPhone Next
The all-new ‘JioPhone Next’, is being jointly developed by Mukesh Ambani-led Reliance and tech giant, Google was scheduled for a Ganesh Chaturthi release, on September 10, 2021. However, Reliance Telecommunication’s revolutionary product hit a roadblock due to an acute global shortage of semiconductors and had been postponed till Diwali at least, as per the reports dated September 10, 2021. The company then remarked that it had already started testing the device among a limited set of users to identify further scopes of refinement and make them easily available foolproof in November, during the festive season of Diwali. With this, Reliance Jio had also bought some more time to figure out efficient ways to mitigate the global shortage of semiconductors. This Reliance JioPhone Next was finally launched on November 4, 2021. These phones now comes at Rs 6,499, and is powered with the Android-powered Pragati OS, and a Qualcomm Snapdragon QM215 processor. The JioPhone Next can also be bought by paying Rs 1,999 only by the users who lack the options of paying for the phone upfront. However, they also need to pay the company for the full price of the phone later on by monthly installments.
The JioPhone Next can be summed up as a good option if you are looking for an entry-level budget phone, and if you don’t have Rs 6000-7000 or more to buy new phones. However, these phones also have numerous drawbacks like:
JioPhone Next is sluggish being deficient of adequate RAM
You need to only use a Jio sim as the primary SIM to use it
The phone can also be turned of by the financer if it is not properly paid for
It comes in with an Android OS, but has its own JIO customisations
Mukesh is reportedly the richest man in India and his family is popularly known as the richest family in Asia, according to Forbes. Mukesh Dhirubhai Ambani was the Chief Managing Director (CMD) of Reliance Industries Ltd, which is one of the biggest conglomerates in India.
Mukesh was born in Aden but he grew up in Mumbai. Being one of the most influential and powerful personalities of the country he has provided his business acumens to the whole world. Mukesh Ambani is the owner of the world’s largest refinery. He has achieved tons of notable accomplishments and is a part of many renowned institutes as well. Ambani was the Director and Chairman of Reliance JIO Infocomm Ltd. too before he stepped down with effect from June 27, 2022, and his son, Akash Ambani, who was a Non-Executive Director, has been appointed as the Chairman of the company, as per reports dated June 29, 2022. The Jio board has also revealed the appointments of Raminder Singh Gujral and K.V. Chowdary as additional directors of the company, who will serve as independent directors for the next 5 years, commencing from June 27, 2022. Furthermore, Pankaj Mohan Pawar has been appointed as the Managing Director of the Jio business also for 5 years.
Flaunt your startup with StartupTalky
800+ stories, thousands of founders, and millions of visitors. Want to be the next?
StartupTalky is where founders, entrepreneurs, startups and businesses hang out and look up to for inspiration. If you have the means, we have the medium! Inviting founders and startups who are building sustainable solutions from ground zero! Startups who run the show, StartupTalky will let the world know!
Some time back, Mukesh Ambani the founder of Jio was asked about how he thought of coming up with such an amazing idea to which he said that this idea was seeded by his daughter Isha Ambani. In 2011, Isha Ambani was a student at Yale in the US and was home for the holidays.
She told her dad how bad the internet connectivity was at their house because she couldn’t submit her coursework. At that time, Mukesh Ambani realized that how India is suffering from bad and poor connectivity of the internet.
The data was severely scarce and overpriced, which was unaffordable to a majority of Indians. Since then, Mukesh Ambani started working on Jio to make the data services abundant and affordable in every part of the country, which gave birth to Reliance Telecommunication’s Jio business line.
JIO stands for Joint Implementation Opportunities and the full name of the company is Reliance Jio Infocom Ltd.
Reliance Jio Logo
The logo of Reliance Jio has a hidden meaning. When we flip the logo and look at its mirror image it is read as ‘oil’ which represents the past and future of Reliance. The company Reliance appeared as a business giant in the 20th century because of its Oil business and in the 21st century probably the flipped version, Jio has successfully ushered in another revolution.
The slogan of Reliance Jio is ‘Digital Life’ while a popular tagline of Jio has been ‘Jio jee bharke’ which means live life to the fullest.
Jio – Business Model and How it Works?
Reliance Jio had really smart strategies and most of them belonged to the founder Mukesh Ambani. For its initial year, Jio gave unlimited data services and high-quality Volte calling services at surprisingly low charges. The complete change in the market made other telecom operators change their business models.
These offers created a lot of radical and unexpected changes in the consumer’s behavior as well. Also, it led to many mergers and acquisitions in Indian mobile network providers. Jio, in turn, made people use more and more services so that they spend more.
Jio eventually started charging 6 paise per minute on its calling services. The company has now launched numerous value packs consisting of both internet and calling benefits along with other on-demand subscriptions at competitive rates, which are even lower for Jio phone users.
Well, in the initial phase Reliance took a big risk to enter into the telecom industry but it has proved to be one of the best companies in the current market.
Jio has already proven to be a rising force being a revolutionary company and the torchbearer of the Indian 4G VoLTE services. The Mukesh Ambani-led company is currently the leading telecommunication service provider in India. The Jio company is now working to empower the Indian users with the 5G and 6G services as well. Jio is the 3rd largest mobile network operator in the world with over 179.93 million users.
Jio has added 1.6 mn+ wireless subscribers to its network in April 2022. In the broadband segment, Jio leads the path, which currently boasts of 52.15% of the total Indian userbase, followed by Bharti Airtel, which now enjoys 31.61% of the market share. Reliance Industries’ shares reportedly closed 1.5% higher at Rs 2,529 on the BSE on June 28, 2022.
Jio launched the fiber to the home service in 2019, which now offers home broadband, telephone, and television services. When the coronavirus made things scary for businesses and professionals, Mukesh Ambani made his company Reliance Jio net debt-free 9 months before the deadline. The conglomerate has raised Rs 53,124.0 crore by offering shares to its existing shareholders and another Rs 118,318.45 crore by selling stakes in the Jio platform through 12 deals.
Reliance Jio has become the country’s largest-ever right issue and series of stake sales deals in its arm Jio Platforms, delivering on a promise given to its shareholders in last year’s August.
“I have fulfilled my promise to the shareholders by making Reliance net debt-free much before our original schedule of 31st March 2021,” Mukesh Ambani said in a statement released early on Friday.
Reliance Industries is in its ‘Golden Decade’ and Mr. Mukesh Ambani has assured his shareholders that in this decade RIL will set even more ambitious growth goals and achieve them. Back in 2017, Mr. Ambani said that the energy-to-telecom conglomerate was on the verge of a golden decade where it would yield the returns of its largest-ever capacity expansion in its petrochemical business and its investment in Jio. With these investments, the company’s net debt was Rs 161,035 crore, as of March 31, 2020, and the funds raised in the last 8 weeks exceeded it. Along with the stake sale to BP in the petro-retail joint venture, the total fundraising is in excess of Rs 1.75 lakh crore.
In twelve weeks thirteen different companies have invested in Jio platform, from leading Global investors which included Facebook, Silver Lake(Twice), Vista Equity Partner, General Atlantic, KKR. & Co.Inc., Mubadala Investment Company, Abu Dhabi Investment Authority, TPG Capital, L Catterton, Saudi Arabia PIF, and Qualcomm.
Companies Investing In Jio In A Nutshell
Name of the Company
Stakes
Total Investments
Facebook
9.99%
INR 43,574 cr
Vista Equity Partner
2.32%
INR 11, 367 cr
Silver Lake Partner
1.15%
INR 5,655.75 cr
General Atlantic
1.34%
INR 6,598.38 cr
KKR & Co. Inc.
2.32%
INR 11,367 cr
Mubadala Investment Company
1.85%
INR 9,093.60 cr
Silver Lake Partner
0.93%
INR 4,546.80 cr
Abu Dhabi Investment Authority
1.16%
INR 5,683.5 cr
TPG Capital
0.93%
INR 4.546.80 cr
L Catterton
0.39%
INR 1,894.50 cr
Saudi Arabia’s Wealth Fund PIF
2.32%
INR 11,367 cr
Qualcomm
0.15%
INR 730 cr
Jio Platforms has diluted 25.24% of its equity. That’s the maximum they have in view to dilute to financial investors, which includes Mark Zukerberg’s Facebook. Any new investors coming on board in the future will have to be “strategic investors, a tech giant, for instance,” said a source who was part of the deal-making process. The RIL-FB partnership could emerge as the core platform for India’s digital economy and as more consumers and small businesses shift online, it could unlock a digital market worth $2 trillion.
The secret behind Jio’s success is that it is customer-centric and has a webscale mentality. Reliance Jio made it look easy when it successfully swooped into the jam-packed and super competitive mobile market with free 4G voice and data service. So, in a nutshell, Reliance Jio, aims at harnessing the full potential of the internet to create a digital revolution through their technologies. Innovative services and long-term planning will radically bring the world at one’s fingertips much faster and also transform the way Indians think, work, live, and are entertained.
Reliance Jio announced plans for integrated fibre connectivity and digital solutions to transform over 50 Million small and medium businesses in India on March 9, 2021. A statement released by Reliance Jio said – “Under this plan, Indian MSMEs will get Jio connectivity at one-tenth (1/10th) of the existing price in the market. They will also be able to collaborate with Jio partners to get easy-to-use solutions”
Reliance Jio also announced to launch of its new product JioBook, as per the reports dated March 8, 2021. After years of speculation, it is believed that the product is in the Engineering Validation test stage. JioBook is a laptop, that is said to be affordable and would attract a lot of customers. As per the speculations, the price of the laptop would start from INR 10,000 onwards.
Reliance Jio emerged as the top bidder in India’s $11 billion airwaves auction, said the reports on March 2, 2021. Reliance Jio bought airwaves worth Rs 571.23 billion ($7.8 billion) of the total Rs 778.2 billion raised in the latest spectrum auction. Jio’s competitors – Bharti Airtel Ltd., spent $2.6 billion and Vodafone Plc’s India unit bought spectrum worth Rs 19.9 billion.
Some of the popular Jio Apps that the customers can now find are:
Jio Pages – A Jio launched web browser for Android mobiles
Jio Chat – JioChat is an instant messaging and video calling app for Jio users.
Jio Cinema – An online HD video library by Jio, designed to provide the users with movies, tv shows, and music videos online
Jio Cloud – A safe and secure cloud storage service from Jio
Jio Health – A health services app from Jio
JioNews – A news app or e-reader for news by Jio
JioMeet – A video-conferencing platform from Jio
JioMoney – A mobile wallet for the Jio customers
JioSaavn – Provides online and offline music streaming in English and Indian languages
JioSecurity – A mobile security and antivirus app
JioTV – A streaming service brought by Jio
JioCall (Jio4GVoice) – A videocalling feature for the fixed-line number customers
MyJio – A Jio account using which the Jio users can manage their Jio account and digital services
Jio also has a list of other products and services. Here are some important ones to know about:
There are many telecommunication brands that have thrived for long years in the telecommunication space of India. Popular brands like Airtel, Idea, Vodafone, etc. had achieved the customer’s trust for years and are still among the Reliance Jio competitors. However, with the disruptive entry of Jio, they had to hurry things up and make significant changes in their business models, strategies, and workings to match up with Jio’s radical approach.
Small network operators like Aircel, Tata Teleservices, and Telenor had to shut down their functions in India because of the revolution brought by Jio into the market. The profits of other Telecom operators have also drastically decreased since Jio’s inception. Idea also had to merge with Vodafone eventually to make the company Vodafone Idea or Vi.
Mukesh Ambani, recently in an interview, stated that Reliance Jio is now focusing on growing the teledensity in the rural and remote areas. The company is continuing to grow in demand for telecom services and provides digital services with greater services.
Reliance Jioplanned to build a data center in UP with approximately $950 million as an investment on February 23, 2021. This center will be powered by its own renewable energy plant.
The company may also expand from being a digital telecom service provider to a digital services player which also offers services related to agriculture, healthcare, and education. Jio also aims to be an influencer and initiator in bringing and developing 5G services in India. The future Reliance Jio projects also include the launching of the 5G and 6G services, and the launch of the JioPhone Next, which was done in November 2021.
FAQs
What is Reliance Jio Tagline/Slogan?
The slogan of Reliance Jio is ‘Digital Life’ while a popular tagline of Jio has been ‘Jio jee bharke’, which means live life to the fullest.
Who is Reliance Jio Founder?
Mukesh Dhirubhai Ambani is the founder of Reliance Jio.
How much is Reliance Jio Revenue?
In the second quarter of FY2021, it reported a revenue of INR 17,481 Cr with a profit of INR 2,844 Cr. In Q1, the company reported INR 16,557 Cr in revenue. Reliance Jio’s average revenue per user (ARPU) has gone up to INR 140, during Q1 of FY2021.
Who are Reliance Jio’s top competitors?
Airtel, and Vi are the prominent competitors of Reliance Jio.
How much is Mukesh Ambani’s net worth?
Mukesh Ambani’s net worth is $90.7 bn, as of April 2022.
Does Reliance Jio have any subsidiaries?
Yes. Reliance Jio’s subsidiaries are LYF and Reliance Jio Infocomm Pte. Ltd.
How much is Reliance Jio’s customer base?
As of April 2022, Reliance Jio recorded 179.93 million users.
The worldwide COVID-19 pandemic may have pushed the world economy into a chaotic situation, with 2020 and 2021 projected to be worse than any of the years since the global financial crisis. However, billionaires, in theselected group of countries, have seen their financial situation improve during the phase of the pandemic, which has been financially painful for most people around the world.
According to a US report, Billionaires have doubled their wealth in the pandemic. Their wealth sees more growth during Covid-19 than in the last 14 years. The total wealth for billionaires stood at around $5 trillion and it is the biggest surge since forever.
The sharp surge in the wealth of the richest Americans is being driven by the bounceback of the stock market in the US, primarily driven by the unprecedented action from the US Federal Reserve. Despite the surge in US Covid-19 cases and the record 43 million Americans filing for unemployment benefits, the country had hovered at record highs.
Investors have been buying equities, with Big Tech companies and those linked to healthcare such as Big Pharma and hospital stocks among the major beneficiaries as the US Fed’s emergency responded to the crisis by cutting interest rates to 0% and undertaking to buy unlimited amounts of bond translated into assets such as stocks, despite being risky investments, seeing fresh demand.
During the pandemic crisis, Amazon shares surged nearly 50% while Facebook recovered from the troughs that it hit in the month of March to record highs. Bezos, Facebook founder’s net worth surged over $30 billion since March 18.
A recent study calculated billionaire wealth using data provided by the Forbes Global Billionaires List, an actual assessment of net worth. March 18, 2020, is used as the starting date as it roughly corresponds with the time when the US Government began imposing lockdown restrictions.
“At a time of enormous economic pain and suffering, we have a fundamental choice to make. We can continue to allow the very rich to get much richer while everyone else gets poorer and poorer. Or we can tax the winnings a handful of billionaires made during the pandemic to improve the health and well-being of tens of millions of Americans,” the US Senator Bernie Sanders said.
Billionaires in India
In India, Mukesh Ambani’s net worth rose to nearly $79.3 billion, calculated on August 10, 2020, making him the fourth richest person in the world. Ambani’s wealth rose by $22 billion in 2020. He slowly shifted his focus to e-commerce, with tech giants seeking to buy a piece of India’s fastest-growing digital market.
On the other hand, his conglomerate Reliance Industries was slammed by a decrease in demand for oil amid COVID-19, its share price has more than doubled from the low in March as its digital unit got billions in investments from companies including Facebook and Google.
Major Indian pharma companies’ Share prices were on fire amidst the raging pandemic. Pharma tycoons like of companies like Sun Pharma, Dr Reddy’s Laboratories, Aurobindo Pharma, Divi’s Laboratories, Cipla etc. have doubled their net worth during the crisis. The wealth of Sunil Mittal and Gautam Adani of Adani Group has also grown largely.
There is a severe wealth level of financial inequality, which exists in India, and the fact that during the pandemic that inequality has become much worse. The extraordinary wealth gains that billionaires have earned during the pandemic come at a time when COVID-19 pandemic may double the poverty in India.
Billionaires Who Got Richer
Some of the Worldwide Billionaires who have grown richer and richer even during the Pandemic, they have never ceased to grow and surprise their onlookers.
Billionaires who got rich in pandemic
Steve Ballmer
The former Microsoft CEO Steve Ballmer’s net worth has increased tremendously during the pandemic. The tech billionaire had donated around $28 million to coronavirus charities in the month of August. The initial net worth was $52.7 billion and the amount gained was $18.5 billion, summing up the total endnet worth $71.2 billion.
Ma Huateng
Chinese advanced technology billionaire Ma Huateng’s wealth has increased by 53.5% during the pandemic. The beginning net worth was $38.1 billion, it rose to end net worth of $58.5 billion with total amount gained $20.4 billion.
A giant tech company called Facebook, its Founder and CEO Mark Zuckerberg became 77% richer during the pandemic. He donated $180 million to coronavirus charities as of August in 2020, a drop in the bucket for the tech billionaire. The initial net worth was $54.7 billion, which turned into a net worth of $96.8 billion. Gaining a huge amount of $42.1 billion.
Mukesh Ambani
The net worth of the Indian billionaire, Mukesh Ambani has increased to around $48.4 billion during the pandemic. He donated $68.32 million of the amount and 0.09% of his total net worth to coronavirus causes. The beginning net worth was $36.8 billion, it became the total sum of $85.2 billion. It makes the gained amount as $48.4 billion.
Jeff Bezos
Currently, the richest man in the world, Jeff Bezos, has made most of his profits during the pandemic through his e-commerce site called Amazon. Bezos gave nearly 64.3% of his total net worth to coronavirus causes, which amounts to $127 million worth of donations. The beginning net worth stood at $113 billion and the latest net worth was $185.6 billion, gaining the amount of $72.6 billion.
Conclusion
The worldwide billionaires did extremely well during the global pandemic crisis, growing their already-huge fortunes to a new level. Millions and millions of citizens faced great economic desperation, the already rich Billionaires became richer all this while.
FAQs
Who is the richest man in the world?
Elon Musk is currently the richest person in the world with his net worth of $219 billion.
Has billionaires beme richer in pandemic?
Billionaires has increased their wealth duric pandemic.
Varad Kitey
