Adeel Halim, WP

Articles from the author

Rise of India’s new billionaires and fall of the old

It’s a shift shaped by debt-fuelled expansion that left businesses in soured loans

Indian tycoons old and new (clockwise from top, left): Binny Bansal, Vijay Shekhar Sharma, Byju Raveendran, Shashi Ruia, Vijay Mallya and Anil Ambani. While old business clans continue to dominate India’s rich lists, a tenfold expansion in its economy since its opening in the 1990s has spawned new tycoons in fields like technology.

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