Home / News / India /  Chemicals fastest growing industry, adds 20 new people in Hurun's rich list 2022

Chemicals are the fastest growing industry, as per the IIFL Wealth Hurun India Rich List 2022. The industry added 20 new faces from the total new addition of 149 people on the rich list. These 149 new faces had a cumulative net worth of about 3,18,200 crore. Hurun India and IIFL Wealth on Wednesday released the rich list 2022. This is the 11th annual ranking of the richest individuals in India. The list conveys the story of India’s economy, its current state, and future trends by listing the most successful entrepreneurs in India.

According to Hurun's list 2022, 149 new faces, with a total of 3,18,200 crore -- of which chemicals are the fastest growing industry, adding 20 new faces.

Hurun's statement said, "while chemicals and financial services added the greatest number of new entrants to the list, pharma is still at number one and has contributed 126 entrants to the list."

With 36 entrepreneurs, the pharmaceuticals sector minted the most number of dollar billionaires followed by Chemicals & Petrochemicals (23) and Software & Services (21).

In Hurun's list, pharmaceuticals, chemical & petrochemicals, IT, and financial services amongst others are some of the key sectors substantially contributing to wealth creation.

Some of the entrepreneurs in major companies under chemicals and petrochemicals segments in the list are -- Hinduja's SP Hinduja & family at 7th rank with a wealth of 1,65,000 crore, while Asian Paints' Ashwin Dani & family at 13th rank with a wealth of 71,600 crore, Indorama's Sri Prakash Lohia at 27th rank with a net worth of 48,600 crore, Pidilite Industries' Madhukar Parekh & family at 48th rank with a wealth of 31,600 crore, and Berger Paints' Gurbachan Singh Dhingra at 65th rank with a net worth of 25,000 crore.

According to Hurun's report, 1,103 individuals are a part of this list, up by 96 from last year, across 122 cities. Cumulative wealth has increased by 9.4%, while average wealth decreased by 1%. 602 individuals saw their wealth increase or stay the same, of which 149 are new faces, whilst 415 saw their wealth drop and there were 50 dropouts. India has 221 billionaires this year down 16 compared to last year.

Anas Rahman Junaid, MD, and Chief Researcher, Hurun India said, "India’s super wealth creation stories are broad-based and not driven by any single sector. For instance, the Top 10 in the IIFL Wealth Hurun India Rich List 2022 come from diverse sectors, Gautam Adani - the richest, has interests in power, port,

renewables, and energy. Mukesh Ambani, who is in the second rank is in telecom and petrochemicals. Cyrus Poonawalla, who is at the third spot is the vaccine king of the world. Then there are pharma, retail, and financial services in the top 10. These entrepreneurs are the global leaders in their respective sectors."

Adani Group's Gautam Adani is the richest man in India with a wealth of 10,94,400 crore, while Reliance Industries Mukesh Ambani is the second richest with a wealth of 7,94,700 crore.

Notably, four individuals still make the India Top 10 after ten years, led by Mukesh Ambani and followed by LN Mittal, Dilip Shanghvi and Shiv Nadar.

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