The turmoil in the stock markets has taken a heavy toll on India’s billionaires. The fortunes of the 10 richest Indians at the beginning of the year have shrunk quite dramatically.
The higher one goes, the harder the fall. These billionaires, and, indeed, all the dollar billionaires in India have lost massive amounts. B.M. Munjal, Chairman of Hero Honda, was the most fortunate. His fortune has been pared by a mere 1 per cent.