2. Lakshmi Mittal ($16 billion)No turnaround yet for troubled steel baron Lakshmi Mittal whose ArcelorMittal is facing weak demand amid supply glut. After reporting a $3.7 billion net loss in 2012, the world&rsquos largest steelmaker raised $4 billion in January share sale in bid to reduce debt, which now stands at $16.2 billion. But it has racked up $1.1 billion in net losses over the la
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2/9
3. Dilip Shanghvi ($13.9 billion)Dilip Shanghvi, who runs India&rsquos most valuable drug company, Sun Pharmaceuticals, maker of generic versions of such drugs as Johnson & Johnson&rsquos cancer drug Doxil and Novo Nordisk&rsquos anti diabetic drug Prandin, is India&rsquos biggest dollar gainer this year, up $4.7 billion. Shanghvi, who moved into the top five last year, is the third riche
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3/9
4. Azim Premji ($13.8 billion)Wipro chairman Azim Premji, whose fortune is up $1.6 billion in past year, got boost after spinning off its consumer products business in March. India&rsquos richest tech tycoon, he foresees double-digit growth for the outsourcer as the U.S. economy recovers. He blames the government for India&rsquos economic slide but supported a proposal to increase taxes o
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4/9
5. Pallonji Mistry ($12.5 billion)Pallonji Mistry, patriarch of construction giant Shapoorji Pallonji, which his older son Shapoor runs, benefited from the rising value of his 18.4% stake in Tata Sons, the holding outfit of $100 billion Tata conglomerate. Younger son Cyrus replaced business legend Ratan Tata as chairman in December 2012 and has since installed a team of younger executive
Image by Vikas Khot
5/9
6. Hinduja Brothers ($9 billion)Four brothers, Srichand, Gopichand, Prakash and Ashok, together control the Hinduja Group, a multinational conglomerate with a presence in 37 countries and businesses as diverse as trucks and lubricants to banking and healthcare. In India, they are best known for IndusInd Bank and truckmaker Ashok Leyland. Lubricants arm Gulf Oil, which bought U.S.-based Ho
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6/9
7. Shiv Nadar($8.6 billion) Fortune up $3 billion for Shiv Nadar, cofounder of $6.3 billion (revenues) HCL Group, as shares of his software flagship HCL Technologies rose 80% from a year ago, helped in part by weak rupee, higher earnings and new clients. Among its notable customers are Boeing, Microsoft, Cisco and UBS. Nadar, who has not been involved in running the operations of the comp
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7/9
8. Adi Godrej ($8.3 billion)Adi Godrej is head of family that controls 116-year-old Godrej Group, a $3.8 billion (revenues) consumer goods conglomerate. Its portfolio covers everything from mosquito repellants and hair dyes to refrigerators. Godrej often says listed real estate arm Godrej Properties, run by son Pirojsha, could be group&rsquos biggest business in a decade. Meantime, its G
Image by Vikas Khot
8/9
9. Kumar Birla ($7.6 billion)Undeterred by India&rsquos slowing economy, Kumar Birla&rsquos $40 billion (sales) commodities conglomerate Aditya Birla Group is continuing to expand at home. In September, its cement arm UltraTech inked a $600 million deal to buy a rival unit the combined group is now country&rsquos largest cement producer. In October he was named by the Central Bureau of In
Image by Dinesh Krishnan for Forbes India
9/9
10. Sunil Mittal ($6.6 billion)After a long downward spell, shares of Sunil Mittal&rsquos Bharti Airtel which has 275 million customers worldwide, perked up when it reported higher revenues per user in last quarter. In June it sold a 5% stake for $1.2 billion to the investment arm of the state-owned Qatar Foundation. Company faced hitch when federal auditor recommended that Bharti along w
