India’s wealth landscape faced significant challenges in 2025 as a combination of U.S. tariffs, a weaker rupee, and a 3% decline in the benchmark Sensex led to a 9% erosion in combined wealth to $1 trillion. Despite government efforts, including sweeping reductions in the goods and services tax to boost consumption, nearly two-thirds of the country’s richest saw their fortunes decline.

Reliance and Adani See Fortunes Dip

India’s richest person, chairman and managing director of oil-to-telecoms giant Reliance Industries, saw his net worth decline by 12% or $14.5 billion, though he remains a “centibillionaire” with $105 billion. Mukesh Ambani, who ventured into AI with the launch of Reliance Intelligence, said he plans to list telecoms unit Jio in 2026.

At No. 2 is infrastructure tycoon

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