Tag Archives: India

NATIONAL: INDIAs FIRST : GREEN ENERGY: Adani Green Energy (AGEL) becomes India’s First to surpass 10,000 MW renewable energy; Gautam Adani says proud to be India’s first ‘das hazari’

AGEL’s 10,934 MW operational portfolio will power more than 5.8 million homes and avoid about 21 million tonnes of CO2 emissions annually, the company said.

Adani Green Energy Limited (AGEL) on Wednesday announced that it has surpassed 10,000 megawatts (MW) of operational portfolio, delivering reliable, affordable, and clean power to the national grid. AGEL’s operational portfolio consists of 7,393 MW solar, 1,401 MW wind and 2,140 MW wind-solar hybrid capacity. “The milestone is a testament to AGEL and its development partners firmly moving towards the goal of 45,000 GW renewable energy by 2030,” the company said in a regulatory filing. 

AGEL’s 10,934 MW operational portfolio will power more than 5.8 million homes and avoid about 21 million tonnes of CO2 emissions annually, it said. 

“We are proud to be India’s first das hazari in the renewables space,” said Gautam Adani , Chairman of the Adani Group . “In less than a decade, Adani Green Engergy has not just envisioned a greener future but has actualised it, growing from a mere idea to explore clean energy to achieving a phenomenal 10,000 MW in installed capacity. This achievement is a demonstration of the rapidity and scale at which the Adani Group aims to facilitate India’s transition to clean, reliable and affordable energy. In our drive towards 45,000 MW by 2030, we are building the world’s largest renewable energy plant in Khavda — a 30,000 MW project unparalleled on the global stage. AGEL is not just setting benchmarks for the world but redefining them.”

Sumant Sinha-promoted ReNew has also crossed 10,000 MW of operational renewable energy capacity as of March 31 this year, according to sources in the company.

Tata Power Renewable Energy’s (TPREL) operational capacity is 4,471 MW, which includes 3,444 MW solar and 1,027 MW wind capacity. The total renewables capacity of TPREL has reached 9,018 MW (PPA capacity is 7,632 MW), including 4,547 MW projects under various stages of implementation, the company said recently.

AGEL’s operating portfolio is certified ‘single-use plastic free’, ‘zero waste-to-landfill’ and ‘water positive for plants with more than 200 MW capacity’.

In terms of its contribution to India’s renewable energy goals, AGEL is working on greenfield expansion in the sector, represents about 11 per cent of the country’s installed utility-scale solar and wind capacity, contributes to over 15 per cent of India’s utility-scale solar installations, and has created over 3,200 direct green jobs.

(With Inputs from Raghavendra Kamath, Financial Express)

source/content: financialexpress.com (headline edited)

INTERNATIONAL / NATIONAL: SPACE & TECHNOLOGY: Tata Advanced Systems Ltd (TASL) announces successful deployment of sub-metre resolution optical satellite TSAT-1A from Kennedy Space Centre, Florida

TSAT-1A was launched from Kennedy Space centre aboard the Bandwagon-1 mission by SpaceX’s Falcon 9 rocket.

Tata Advanced Systems Limited (TASL) announced the successful deployment in space of its sub-metre resolution optical satellite, TSAT-1A, by SpaceX’s Falcon 9 rocket. The satellite was placed in space as part of the Bandwagon-1 mission and was launched from Kennedy Space centre, Florida, U.S., at 11:16 p.m. UTC (Coordinated Universal Time) on April 7.

“This achievement follows the collaboration signed between TASL and Satellogic in November 2023, leveraging Satellogic’s expertise to develop and integrate an advanced earth observation satellite in India and TASL’s capability to undertake complex system integration,” it said in a statement. “TSAT-1A will deliver high-resolution optical satellite images with increased collection capacity, dynamic range, and low-latency delivery through its multispectral and hyperspectral capabilities.”

The statement said that TSAT-1A was assembled in TASL’s Assembly, Integration and Testing plant at its Vemagal facility in Karnataka. “This milestone shows TASL’s commitment to the space sector. This is a first step. Our partnership with Satellogic has enabled us to deliver an assembled-and-tested-in-India, best-in-class, sub-metre optical satellite which was launched by SpaceX,” Sukaran Singh, Chief Executive Officer and Managing Director, TASL said in the statement.

Emiliano Kargieman, CEO of Satellogic said this illustrates the flexibility of Satellogic’s space systems programme, offering governments and enterprises the ability to tailor a proven satellite model for their specific needs, and reach orbit within a favourable timeframe.

On the Bandwagon-1 mission, SpaceX said that it was its first dedicated rideshare mission launched into a mid-inclination orbit. “While our Transporter rideshare missions launch to a sun-synchronous orbit, launching to a mid-inclination orbit fills in the gaps for our customers that wish to expand their coverage or complete unique objectives,” it said on social media platform ‘X’. “Mid-inclination orbit offers a higher revisit rate, meaning the time between flyovers of the same point is faster than what is seen with other orbits.”

In addition to TSAT-1A, the Bandwagon-1 mission also had 11 other spacecraft. These include Korea’s 425Sat, HawkEye 360’s Clusters 8 & 9, Tyvak International’s CENTAURI-6, iQPS’s QPS-SAR-7 TSUKUYOMI-II and Capella Space’s Capella-14, according to SpaceX.

source/content: thehindu.com (headline edited)

NATIONAL / KARANTAKA: BUSINESS & ECONOMY : Ramesh Kunhikannan, Founder of Kaynes Technololgy Makes It To Forbes List Of Billionaires 2024

He is the Founder of Mysuru’s Kaynes Technology that supplied power systems for the Chandrayaan-3’s lander and rover.

India reached a huge milestone last year, as the country became the first nation to land a spacecraft near the unexplored south pole of the moon.

Ramesh Kunhikannan, whose company contributed largely to the historic space mission, was named on the Forbes Billionaires List 2024 for the first time this year, thanks to the historic space mission. He is presently placed among the richest people across the globe along with Elon Musk, Jeff Bezos and Mukesh Ambani with a whopping 1.2 billion US Dollars (approx. Rs. 10,011 crore) net worth.

Ramesh Kunhikannan is the Founder and Managing Director of Kaynes Technology India, headquartered in Mysuru.

The company is famous for manufacturing electronic products. The 60-year-old billionaire graduated with a Bachelor’s degree in Electrical Engineering from the National Institute of Engineering (NIE), Mysuru.

He started his company in 1988 as a contract electronics manufacturer. His spouse and current company Chairperson, Savitha Ramesh, joined the company in 1996. The company presently hold a market capitalisation of Rs. 17,156 crore with its stocks priced at around Rs. 2,700, according  to Value Search.

The 36-year-old company mainly supplies electronic systems and design services to automobile industries, aerospace, medical and defence. Kaynes’ services are mainly used for electronic controls in EVs, railway signals, etc.

The shares of the company have given a return of about 234 percent since its debut. The company assembles printed circuit boards and has eight factories in India.

Kaynes supplies 350 clients across the globe in the auto, aerospace and medical industries.

It is also one of the multiple companies which largely contributed to the achievement of Chandrayan 3. The company provided power systems for the Chandrayaan-3’s lander and rover. Following the successful completion of the mission, Kaynes Technology India’s shares skyrocketed from Rs. 1,719 in August 2022 to Rs. 2683.85 as of today.

Presently, Kunhikannan holds 64 percent of the company which is around 1.1 billion US Dollars (approximately Rs. 8.3 thousand crores) to his net worth.

source/content: starofmysore.com (headline edited)

INTERNATIONAL: DEFENCE / NAVY: Kochi becomes US Navy’s latest docking station

Cochin Shipyard has signed a Master Shipyard Repair Agreement with the US Navy as part of an agreement reached during last year’s G20 summit for India to support the US Navy’s forward deployment.

US Naval ships will now dock at, and undergo repairs, at Cochin Shipyard according to a new agreement, part of a broader naval cooperation framework agreed between India and the US during last year’s G20 summit.

Officials of Cochin Shipyard, a Government of India undertaking, signed a Master Shipyard Repair Agreement (MSRA) with the United States Navy effective from April 05, 2024 as part of a larger plan for India to support the US’ forward naval deployment in Asia.

The move, along with similar agreements signed by L&T for Kattupalli Port near Chennai and Mazgaon Docs in Mumbai, will help the U.S. Navy to establish maintenance hubs for its assets in the Indo-Pacific region.

The agreement with L&T and Mazgaon Dock Shipbuilders was signed last year. These shipyards are renowned for constructing some of the Indian Navy’s most advanced and largest warships.

The U.S. Navy’s decision to partner with Indian shipyards for maintenance and repair of its vessels is driven by the limited availability of suitable facilities within the Indo-Pacific region. Currently, the shipyards capable of servicing U.S. vessels are in East Asia and South East Asia, within range of Chinese forces, posing a potential security risk.

While facilities in Hawaii and the Continental United States are available, they are not easily accessible for forward-deployed assets.

The move comes in the wake of deepening security and defense ties between the two nations, particularly in the face of shared concerns regarding China’s activities in the region. India has taken a more proactive role in regional security, engaging in multilateral initiatives such as the Quadrilateral Security Dialogue alongside the U.S., Japan, and Australia.

The U.S. Navy operates a vast fleet of approximately 290 ships and submarines, as well as over 3,700 aircraft, deployed across the globe.

It has significant presence in the Indian Ocean, with the U.S. 5th Fleet headquartered in Bahrain. The fleet is responsible for US’ naval forces in the Persian Gulf, Red Sea, Arabian Sea, and parts of the Indian Ocean.

In addition to the agreements with Indian shipyards, the U.S. has also been exploring the possibility of using private Japanese shipyards for maintenance and repairs.

The first instance of a U.S. vessel being maintained and repaired in an Indian shipyard occurred in 2022, when USNS Charles Drew (T-AKE-10) docked at L&T’s Kattupalli shipyard in Chennai.

This event marked a new dimension in the growing Indo-U.S. strategic partnership, according to the Indian Ministry of Defence. Since then, two more U.S. vessels, USNS Matthew Perry (T-AKE-9) and USNS Salvor (T-ARS 52), have undergone maintenance and repairs at the same shipyard.

The two countries have also been holding several joint exercises and engagements. They have also signed defense agreements such as the Logistics Exchange Memorandum of Agreement (LEMOA), Communications Compatibility and Security Agreement (COMCASA), and Basic Exchange and Cooperation Agreement (BECA) for sharing of logistics support, secure communications, and geospatial intelligence.

source/content: newindianexpress.com (headline edited)

NATIONAL: HEALTH & MEDICAL SCIENCES: INNOVATION: IIT-Guwahati researchers develop solutions based on Regenerative Therapies for Knee Tears

IT-G has created three hydrogel formulations that are blends of silk fibroin and other polymers, which can be used by doctors in clinics, to treat the meniscus injury.

Researchers at the Indian Institute of Technology- (IIT) Guwahati, in collaboration with University of Animal and Fishery Sciences, Kolkata, has formulated three treatment solutions for a knee injury that has proven difficult to treat.

By developing these key regenerative therapies, the researchers have provided possible alternative solutions to manage the problem of a knee meniscus tear, an injury to tissue in one’s knee joints, the IIT-G said in a release.

“We have developed regenerative treatment approaches that would be tailored for the patient and help in rapid healing meniscus tears or replacing parts of the damaged tissue,” Professor Biman B Mandal, department of biosciences and bioengineering, IIT-G, said.

Trauma to the knee meniscus, a cushioning tissue in the knee joint, is a common yet complex problem. A tear in the tissue can make it difficult to walk, run or perform daily activities.

The 3 hydrogels

The IIT-G team has created three hydrogel formulations that are blends of silk fibroin and other polymers, which can be used by doctors in clinics, to treat the meniscus injury.

These components, especially silk, are well known for their strength, bioactivity and flexibility. They are also cost-effective compared to other materials such as commercially available polyurethane and collagen meniscus implants, the release said.

Out of the three, one is an injectable hydrogel, which can be injected in a minimally invasive manner directly into the meniscus site to expedite the healing of smaller injuries.

For treating larger full thickness complex meniscus tissue injuries, the researchers have created two 3D bio-printable inks that can be 3D printed into implants.

In the two bioink formulations, one carries commercially available growth factor loaded microspheres, the second carries patient derived factors which are released in a sustained manner aiding faster meniscus healing. Both formulations can be 3D printed into a partial or full sized meniscus and used for healing large portions of the meniscus.

3D printing, or bioprinting, has recently emerged as a popular futuristic method for tissue engineering. Here, the implant is customized as per the patient’s requirements.

The research aims to provide a more personalised and effective treatment for meniscus injuries, potentially improving the quality of life for millions of people.

The developments signal a significant advancement, providing solutions custom-made for each patient and could also potentially prevent future complications such as osteoarthritis.

The three approaches have been published in three manuscripts in international journals Applied Materials Today and Advanced Biology, co-authored by Mandal and his team of research scholars — Ashutosh Bandyopadhyay, Baishali Ghibhela, and Sayanti Shome and Dr Debajyoti Pal, Dr Samsamul Hoque and Professor Samit K Nandi from the University of Animal and Fishery Sciences.

source/content: moneycontrol.com (headline edited)

NATIONAL: GI Tags / ASSETS : Over 60 products from across India earn GI tags

More States are filing applications to get a GI tag for some of their traditional and historic products.

Over 60 products from across India, including the famous Banaras Thandai, have been given the Geographical Indication (GI) tag. This is the first time such a large number of GI tags have been given at a go, a senior official from the Geographical Indications registry said. He also said that more States were coming forward and filing applications to get a GI tag for some of their traditional and historic products.

Six traditional crafts from Assam — Asharikandi terracotta craft, Pani Meteka craft, Sarthebari metal craft, Jaapi (bamboo headgear of rural Assam), Mishing handloom products, and the Bihu dhol — have bagged the GI tag.

Thirteen other products from Assam have been given tags, including the Bodo Dokhona, the traditional attire of Bodo women; and Bodo Eri silk, referred to as the fabric of peace or ahimsa (non-violence), which comes from the silkworm Samia ricini that feeds mostly on the leaves of the castor plant (Ricinus communis), and cassava. Bodo Jwmgra (a traditional scarf), Bodo Gamsa (traditional dress of Bodo men), Bodo Thorkha (a musical instrument), and Bodo Sifung (a long flute) are also on the list.

Himanta Biswa Sarma, Chief Minister of Assam, said it was a big win for Assam’s heritage in a post on social media platform X. “Six prestigious GI Tags have been granted to traditional crafts with support from NABARD, RO Guwahati, and facilitated by Padma Shri Dr. Rajani Kant, GI Expert. This includes iconic items like Assam Bihu Dhol, Japi, Sarthebari Metal Craft, and more. These products, deeply rooted in history, support nearly one lakh people directly,” he posted.

The famous Banaras Thandai, a drink made by blending milk with a nutritious mix of nuts, seeds and spices, also got the tag. Details in the GI filing mentioned that on any given evening, in the heart of the city, in areas such as Gaudaulia Chowk, Lahurabir, and the old lane of Pakka Mahal, traditional Banaras Thandai shops attract large crowds. The drink was first introduced many centuries ago as an offering to the Shri Kashi Vishwanath deity on the occasion of Mahashivaratri, Rangbhari Ekadasi, and Holi. The Banaras Tabla, Banaras Shehnai, Banaras Lal Bharwamirch and Banaras Lal Peda are among the products that walked away with GI tags in this region.

The Tripura region secured two tags — one for the Pachra-Rignai, which is a traditional dress worn on special occasions, and the other for the Matabari Peda, a sweet preparation. Tripura Chief Minister Manik Saha also took to X to laud the self-help groups for putting the State on the global map.

‘Meghalaya Garo Textile’ weaving, which is linked to socio-cultural and religious rituals, and the ‘Meghalaya Lyrnai Pottery’ and ‘Meghalaya Chubitchi’, have also secured GI tags.

The Geographical Indication is awarded to products that have a specific geographical origin, and that have characteristics related to a particular location. Till date, around 635 products in India have been given the GI tag. The first GI tag in the country was given two decades ago to the famous Darjeeling tea.

source/content: thehindu.com (headline edited)

GLOBAL: ARTS & CULTURE / MUSIC: Kerala woman Suchetha Satish Creates Guinness World Record, sings in over 140 languages

A Kerala woman has created a world record by singing in 140 languages in a Dubai concert on 24 November 2023. She shared the video on her Instagram handle.

Kerala women created a Guinness World Record after singing in over 100 languages. Suchetha Satish performed in a total of 140 languages in a Dubai concert on November 24, 2023. The concert is titled Concert for Climate. The video of her performance was shared on Instagram. She could be seen singing melodious songs, and it was a complete treat to ears.

Ms Satish shared the news on her Instagram handle. She captioned, “Happy to share the news that by God’s grace, I have set a new Guinness World Record by singing in 140 languages in 9 hours, on Nov 24th 2023, during my concert by climate. Thank you all for your wishes and support.”

According to the official Guinness World Records page, Ms Satish broke the record by performing 140 languages raising awareness about climate change at the Indian Consulate Auditorium in Dubai. There are over 140 representing over 140 nations attending the COP 28 summit in Dubai.

The stage was set for the 75th anniversary celebrations of India’s independence and the 50th formation of the UAE.

Suchetha Satish is a 16-year-old who attempted the feat during ‘Music Beyond Borders’ in Dubai on August 19 and broke the record of another Indian who sang in 76 languages in 2008.

Ms Satish sang in 29 Indian languages and 91 international languages. She attempted at 12 oms and with a rendition of a Sanskrit song called “Janki Jane” from Dhwani which is a Malayalam movie. She ended her streak with a Hindi song which is written by her mother, Sumitha Ayilliath, and composed by Bollywood composer Monty Sharma.

Many users commented on her post and applauded her for creating this record. 

One of the users,  “Congratulations Suchetha. Incredible! A journey of a thousand miles starts with a single step. I am proud to be part of this beautiful journey. Well done.”

Another user wrote, “Glorious achievement. May you have many more such achievements in the years to come. Kudos.”

One of the users praised Sucheta and commented, “That achievement was incredible. The entire mankind would be proud of you Suchetha. My hearty congratulations.”

source/content: business-standard.com (headline edited)

INTERNATIONAL: FOOD : India’s Ras Malai ranked ‘2nd Best Cheese Dessert’ Globally by Taste Atlas.

Indian delicacy Ras Malai has been ranked as the second best cheese dessert in the world by experiential food guide Taste Atlas.

Ras Malai, an iconic Indian dessert, has been ranked second in the ‘Top 10 Best Cheese Desserts’ list released by Taste Atlas, a renowned experiential food guide. This delicacy, known for its delicate cheese dumplings soaked in saffron-infused milk syrup, originates from West Bengal.

The dessert is crafted from simple ingredients like white cream, sugar, milk, and chenna, a type of paneer cheese with a subtle cardamom flavour. It is often garnished with saffron, cashews, and almonds, and is best enjoyed during festive occasions like Holi, Durga Puja, or Diwali.

The dessert, which is crafted from simple ingredients like white cream, sugar, and milk, has been recognised for its delicate cheese dumplings soaked in saffron-infused milk syrup. The best ras malai in India can be had at Mumbai’s Farzi Cafe, as per Taste Atlas. 

The list was topped by Poland’s Sernik, a dessert made with twarog, a special type of curd cheese, eggs, and sugar, often enjoyed with fruits and jellies. The third position was held by Greece’s Sfakianopita, a pie dish filled with creamy local cheese, served with honey and cinnamon.

Other cheese desserts that made it to the top 10 are New York-style cheesecake (USA), Japanese cheesecake (Japan), Basque cheesecake (Spain), Rakoczi turos (Hungary), Melopita (Greece), Kasekuchen (Germany), and Misa rezy (Czech Republic).

Other cheese desserts that made it to Taste Atlas’ catalogue of best rated desserts are Kalitsounia (Greece), Cartola (Brazil), Romeu e Julieta (Brazil), Quesada pasiega (Spain) Mel i mato (Spain), Kohupiimakreem (Estonia), Placinta cu urda (Romania), Paskha (Russia), Halawat el-jeben (Syria), Martin Fierro (Uruguay), Topfentorte (Austria), Fiadone (France), Ostkaka (Sweden), Hosmerim (Turkiye), and Postre vigilante (Argentina). 

source/content: businesstoday.in (headline edited)

GLOBAL: e-COMMERCE: India’s Government e-Market is World’s 3rd Largest e-commerce platform: CEO

Launched in August 2016, the total value of orders placed through GeM in 2018-19 was Rs.17,445 crore, which gradually went up to about Rs.1.07 lakh crore in 2021-22.

India’s ‘Government e-Market’ or GeM portal is the world’s third largest e-commerce platform for public procurement after Korea’s ON-line E-Procurement System (KONEPS) and Singapore’s GeBIZ with a total sales value crossing Rs.4 lakh crore in the current financial year ending on March 31, a senior official said.

“GeM closes this financial year with over Rs.4 lakh crore gross merchandise value (GMV), almost a 100% jump from the GMV at the end of the previous fiscal year, exhibiting its unique ability to promote digital inclusion,” GeM CEO PK Singh said. GMV represents the total value of goods or services sold within a specific period.

Launched in August 2016, the total value of orders placed through GeM in 2018-19 was Rs.17,445 crore, which gradually went up to about Rs.1.07 lakh crore in 2021-22. In the previous financial year (FY23), the value of orders (or GMV) was a little over Rs.2.01 lakh crore.

While both public and private sector companies can sell their products and services through GeM, buyers can only be government entities, including gram panchayats.

Defence procurement is one of the major business activities in the platform. “Assembly of BrahMos missile is being done through GeM as a service contract. In defence, right from supplying eggs up to the missile parts is being done through the portal,” said Singh.

GeM provides a level playing field for domestic businesses, particularly smaller ones, physically distant from popular markets, to grow and thrive. Of the Rs.4 lakh crore GMV orders, nearly 50% have been awarded to marginalised seller segments such as artisans, weavers, craftsmen, micro and small enterprises, women-led units, farmer producer organisations and startups, he said.

The portal has collaborations with over 520,000 Common Services Centres (CSCs) and more than 150,000 India Post offices to link the remotest locations of the country for seamless procurement, Singh said.

“Through supportive handholding at every step to help diverse sellers and service providers grow their business on GeM, the platform has given impetus to hyper-local economies across regions in India, resulting in job creation and greater incomes,” Singh added.

According to Singh, services procurement through GeM is rapidly growing. Procurement of services from the portal was worth Rs.66,000 crore in 2022-23, which jumped to Rs.2.05 lakh crore in the current fiscal year. Goods procurement in FY24 (as of March 28) was valued at Rs.1.95 lakh crore, marginally lower than the services procurement.

“GeM has been exceptionally successful in breaking down the cartel of established and renowned service providers, paving the way for small domestic entrepreneurs to participate in government tenders from anywhere at any time. The vast repository of services on GeM has enabled states to procure innovative solutions that cater to all their dynamic needs,” Singh said.

He said the government wants to develop GeM as a unified procurement portal of the country by including contracts also. Currently, only goods and services are available on the platform. A dedicated page for election-related goods and services, such as catering and webcasting services is also available on the portal.

The portal’s network of over 150,000 government buyers and 2.1 million sellers has helped the e-marketplace to grow rapidly, Singh said. “Through comprehensive onboarding of last-mile buyers and sellers GeM has fostered engagement at the grassroots level, by integrating 89,421 panchayats and over 760 cooperatives within its procurement ecosystem, GeM has facilitated sustainable procurement while ensuring optimisation in public spending at the very last level of administration,” he added.

GeM provides a wide range of goods and services, including office stationery, passenger vehicles, computer furniture, hiring of helicopter services, logistics, waste management, and webcasting.

source/content: hindustantimes.com (headline edited)

INTERNATIONAL: INDIVIDUAL BUSINESS LEADERS: Maximum City ‘Mumbai’ has maximum billionaires in India, 3rd in the World and Asia’s billionaire capital making it the fasted growing club in the world

Mumbai was the fastest growing billionaire capital in the world with 92 billionaires, adding 26 in the year, taking it to third in the world and Asia’s billionaire capital.

India added 94 new billionaires in 2023, the most by any country other than the US, taking the total to 271, according to the 2024 Hurun Global Rich List. An individual with $1 billion in wealth is a billionaire.

The collective wealth of Indian billionaires amounts to US$ 1 trillion or 7 per cent of total wealth, emphasising the nation’s substantial economic influence, it said. The average age of Indian billionaires is 67 years.

Dominant industries which India’s billionaires represented include pharmaceuticals (39), automobile & auto components (27) and chemicals (24).

Mumbai was the fastest growing billionaire capital in the world with 92 billionaires, adding 26 in the year, taking it to third in the world and Asia’s billionaire capital. New York ranked number 1 with 119; London was in second spot with 97. Beijing dropped from first place last year to the fourth position with 91, just three billionaires less than India’s.

New Delhi broke into the Top 10 for the first time.

Mukesh Ambani is in the tenth position with a wealth of $115 billion and Gautam Adani is in the 15th position with a wealth of $86 billion, according to UK based Hurun.

At 52, Elon Musk (US $231 billion) reclaimed the title of the richest person in the world for the third time in four years, propelled by a surge in Tesla’s stock. Simultaneously, SpaceX, Musk’s aerospace venture, saw its valuation hit new heights on the back of successful launches, satellite internet ventures, and lucrative government contracts.

Jeff Bezos, 60, rose to the second position with US$ 185 billion, as his wealth grew 57 per cent this year, driven primarily by Amazon’s cloud computing, winning market share and making up for all his losses last year.

The biggest gainers of the year were Mark Zuckerberg, adding US$ 90 billion, and Elon Musk adding US$ 74 billion. Jensen Huang of Nvidia saw his wealth double to US$ 48 billion and a place in the Hurun Top 30.

Despite losing 155 billionaires, China is still the world capital for billionaires with as many as 814. The USA was just behind with 800 billionaires, adding 109. Between themselves, China and the USA — the  ‘Big Two’ — have 49 per cent of the known billionaires on the planet, down 4 per cent, says the Hurun Rich List.

The 2024 Hurun Global Rich List underscores India’s ascension as a future economic titan, poised to secure its place as the world’s third-largest economy. Surpassing all but the United States, India’s unprecedented billionaire boom propels Mumbai past Beijing, crowning it as Asia’s billionaire epicentre,” said said Anas Rahman Junaid – Founder and Chief Researcher, Hurun India.

The USA had a strong year on this latest Hurun Global Rich List, with its 800 entrants contributing a notable 37% of the overall wealth of the list. Adding 132 new faces, the American landscape continues to showcase entrepreneurial dynamism.

source/comment: indianexpress.com (headline edited)