Forbes List Of India’s Richest People Lists Dilip Shanghvi at No.3

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There has been little respite lately for India’s stumbling economy, lashed by close to double-digit inflation and a rupee that fell by 16% in the past year. That wiped out any gain from the 12% rise of the stock market, resulting in a lackluster 3% growth in the wealth of India’s 100 richest, to $259 billion.

There has been little respite lately for India’s stumbling economy, lashed by close to double-digit inflation and a rupee that fell by 16% in the past year. That wiped out any gain from the 12% rise of the stock market, resulting in a lackluster 3% growth in the wealth of India’s 100 richest, to $259 billion.

But amid the gloom are a few rays of sunshine, notably in export-led sectors such as IT and pharma that have benefited from the weaker rupee and hopes of a continuing U.S. revival. Shining brightest among that lot is the founder of India’s most valuable drugmaker, Sun Pharmaceutical Industries , Dilip Shanghvi. He is the year’s biggest dollar gainer and moves to No. 3 for the first time. His $4.7 billion gain accounts for half of overall increase. He takes the spot of tech tycoon Azim Premji, who didn’t do badly, but his $1.6 billion gain was no match for Shanghvi’s.