Gujaratis dominate Forbes India rich list

September 22, 2016

Singapore, Sep 22: Gujaratis seem to be among the most dominant communities when it comes to wealth creation, with Ambanis, Adanis, Shanghvis and Patels cornering a large number of top positions on the list of India's richest 100 released by Forbes today.forbes

Industrialist Mukesh Ambani was named India's richest person for a ninth year in a row with a sharp increase in networth to USD 22.7 billion, while his younger brother Anil Ambani was ranked 32nd with a networth of USD 3.4 billion.

Sun Pharma's Dilip Shanghvi, another Gujarati, was placed second with USD 16.9 billion, while Wipro's Azim Premji came in fourth with a networth of USD 15 billion, followed by Uday Kotak (11th, USD 8.3 billion) and Gautam Adani (13th, USD 6.3 billion).

Shashi and Ravi Ruia, who have a networth of USD 5.8 billion, have a significant presence in Gujarat.

Other Gujaratis on the list include Pankaj Patel, ranked 23rd with a networth of USD 4.5 billion, Karsanbhai Patel (52, USD 2.24 billion), Rajesh Mehta (61, USD 1.88 billion) and Nirav Modi (71, USD 1.74 billion), among others.

The list also features many Parsis, who migrated from Iran and landed in this coastal state many centuries ago.

Among the noted Parsis, Pallonji Mistry was ranked 5th on the coveted list with a networth of USD 13.9 billion, while the Godrej family was at the 7th place with USD 12.4 billion, followed by Cyrus Poonawalla (10th, USD 8.6 billion).

According to Forbes, the combined networth of India's 100 wealthiest is USD 381 billion (nearly Rs 25.5 lakh crore), a rise of 10 per cent from USD 345 billion in 2015.

"In a post-Brexit world, India appears a steady ship with an economy growing at 7 per cent-plus. The majority of India's 100 richest have notched up handsome gains as their companies have outperformed the stock market in the past year.

"As the domestic investment cycle starts kicking in, we can expect more gains and new names in the future," Forbes Asia's India Editor Naazneen Karmali said.

Forbes said the list was compiled using shareholding and financial information obtained from the families and individuals, stock exchanges, analysts and regulators.

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News Network
February 18,2020

New Delhi, Feb 18: Election strategist-turned-politician Prashant Kishor on Tuesday questioned the Nitish Kumar government's development model, even as he sneered at the chief minister for making ideological compromises to stay in an alliance with the BJP.

Kishor, who has been vocal about his opposition to the Citizenship (Amendment) Act (CAA), said Kumar needs to spell out whether he is with the ideals of Mahatma Gandhi or those who support Nathu Ram Godse.

"Nitish ji has always said that he cannot leave the ideals of Gandhi, JP and Lohiya... At the same time, how can he be with the people who support the ideology of Godse? Both cannot go together. If you want to stay with the BJP, I don't have any problem with it but you cannot be on both sides," he said.

"There has been a lot of discussion between me and Nitish-ji on this. He has his thought process and I have mine. There have been differences between him and me that the ideologies of Godse and Gandhi cannot stand together. As the leader of the party you have to say which side you are on," he added.

In a direct assault on Kumar's model of governance, Kishor said Bihar was the poorest state in 2005 and continues to be so.

"There has been development in Bihar during the last 15 years, but the pace has not been as it should have," he added.

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Agencies
May 12,2020

New Delhi, May 13: Prime Minister Narendra on Tuesday announced Rs 20 lakh crore special economic package for the country to be 'self-reliant' and deal with COVID-19.

"I announce a special economic package today. This will play an important role in the 'Atmanirbhar Bharat Abhiyan.' The announcements made by the government over COVID, decisions of RBI and today's package totals to Rs 20 lakh crore. This is 10 per cent of India's GDP," said Prime Minister Modi in his address to the nation. The Prime Minister said that humanity would not accept defeat from the coronavirus but the people have to stay safe and move forward.

"We had never seen or heard about such a crisis ever before. This is definitely unimaginable for mankind. It is unprecedented. But humanity will not accept defeat from this virus. We have to not only protect ourselves but also move forward," he said.

Talking about the gravity of the virus, Modi said: "It has been four months the world is fighting COVID-19. More than 42 lakh people from different countries have been infected by COVID-19. More than 2.75 lakh people have lost their lives due to the virus. In India too many families have lost their dear ones, I express my condolences to them."

"Today when the entire world is in crisis, we will have to further firm our resolve," he added.

The Prime Minister on Monday held a video conference meeting with Chief Ministers of all states to discuss the road ahead in India's fight against COVID-19 and noted that he was of the firm view that measures needed during the third phase of lockdown will not be needed in the fourth phase.

Prime Minister Modi had said the need was to reduce the transmission rate of the disease and to increase public activity gradually while adhering to all the guidelines and efforts to be made towards achieving both these objectives.

The phase three of the lockdown is coming to an end on May 17.

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News Network
January 12,2020

Patna, Jan 12: Prashant Kishor, national vice-president of the Janata Dal (United), a key ally of the BJP-led NDA, has thanked Congress general secretary Priyanka Gandhi and former AICC chief Rahul Gandhi for their support in opposing CAA (Citizenship Amendment Act) and NRC (National Register of Citizens).

Perceived as one of the closest associates of Bihar Chief Minister Nitish Kumar, who is also the party’s national president, PK (as Prashant is fondly called) also assured the two top Congress leaders that the contentious legislation would not be implemented in Bihar where JD (U) is ruling the State with the support of the BJP.

“I join my voice with all to thank #Congress leadership for their formal and unequivocal rejection of #CAA_NRC. Both @rahulgandhi and @priyankagandhi deserve special thanks for their efforts on this count….also would like to reassure to all – CAA/NRC won’t be implemented in Bihar,” tweeted PK on Sunday.

The development assumes significance as a day back, the Congress Working Committee (CWC) meeting, chaired by Sonia Gandhi, had strongly opposed CAA/NRC/NPR as it was aimed at “sinister design of the present regime to divide Indian people into religious lines.”

The latest tweet by PK is also being seen as a rebuff to the BJP, which again recently reiterated that “the BJP should project its own chief ministerial candidate during the 2020 Bihar Assembly elections.”

The JD (U) had taken umbrage over such provocative statements by BJP leaders and asked the saffron camp to rein in its ‘loudmouths’ as BJP chief Amit Shah had already made it clear that the next Assembly polls in Bihar would be fought under the leadership of Nitish.

Of late, PK has been quite vocal about his opposition to the Centre’s policies, particularly the contentious issues of NRC and CAA. Besides, he even dubbed senior BJP leader Sushil Modi as the man who became Bihar’s Deputy Chief Minister due to ‘circumstances’ as the BJP was decisively decimated during the 2015 Assembly elections.

Nitish never reprimanded PK for his jibe against Modi, thereby giving rise to speculations whether Bihar was again heading for a political churning ahead of Assembly polls slated for October this year.

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