Reliance Industries Chairman Mukesh Ambani is the richest man in India with USD 32

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billion in net worth followed by steel tycoon Lakshmi Mittal and younger brother Anil Ambani, according to the Forbes annual rich list for the country.

NRI steel baron Mittal has been ranked at the second position with a net worth of USD 30 billion, while Mukesh's sibling Anil Ambani, whose wealth stood at USD 17.5 billion was ranked third.

Wipro Chirman Azim Premji and Essar Group's Shashi & Ravi Ruia are ranked fourth and fifth with net worth of USD 14.9 billion and USD 13.6 billion, respectively.

The magazine said the combined fortune of India's 100 richest is USD 276 billion, almost one-fourth of the country's GDP.

"Happier days are here again for India's super rich, thanks to a rebounding stock market, up two-thirds in the past year, and a still buoyant economy that's growing at least 6 per cent a year," the US business magazine said.

The nation is now home to 52 billionaires, up from 27 last year and only two short of what India had at the peak of its stock market boom in 2007.

Overall, the top three billionaries of India are worth USD 79.5 billion, which is USD 25.7 billion more than their combined sum a year ago.

However, Forbes said that the amount is "still far shy of their record total of USD 145 billion in 2007".