India Inc promoters lose Rs 1.7 trillion, but a rich year for tycoons still

Mukesh Ambani's net worth crosses Rs 3 trillion, Radhakishan Damani sees most increase in wealth

Year 2018 has not been great for promoters of India Inc because their combined wealth declined 6 per cent after two years of double-digit growth in net worth.

The combined wealth (the market value of their stakes in listed companies) was down to Rs 27.4 trillion (around $385 billion) from Rs 29.1 trillion (around $410 billion) at the end of December 2017.

A poor showing at the macro level, however, doesn’t mean that it was a bad year for everyone as some of India's richest promoters saw a sharp rise in their net worth in 2018. 

Radhakishan Damani of Avenue Supermarts (DMart) topped