For more news visit ☛ http://english.ntdtv.com or Follow us on Twitter ☛ http://twitter.com/NTDTelevision

Indian entrepreneurs are among the many newcomers to the world's billionaire club. A London-based Indian steel magnate has scored sixth position in Forbes Margazine's rich list, followed closely by another home-based Indian entrepreneur at the ninth slot.

London-based Indian steel magnate Lakshmi Narayan Mittal was ranked as the sixth richest person in the latest edition of Forbes list of World's Billionaires. Mittal is estimated to be worth more than $31 billion.

Another Indian industrialist, Mukesh Ambani, who heads the empire of Reliance Industries, ranked in the ninth position.

It is a proud moment for many Indians.

[Ajay Chacko, CEO, Forbes Magazine, India]:
"One feels proud as an Indian and about Indians. Mr. Mittal is an overseas Indian and Mr. Ambani is local, within India. Mittal has done lot of acquisitions abroad and has done vast manufacturing; he is one of the biggest steel manufacturers taking up Arcelor Mittal. It is a big plan which is very foresightedly done and he is a great visionary and a great steel-maker."

Mittal's company, ArcelorMittal, is the world's largest steel-maker, registering a profit of 2.9 billion dollars in 2010.

Mukesh Ambani, the Indian developer of what will be the world's tallest residential building, has assets to the tune of $27 billion.

Residents in India's commercial capital of Mumbai are delighted with the news.

[Sandeep Shah, Mumbai Resident]:
"That is great news! We have heard that Laxmi Narayan Mittal and Mukesh Ambani have been declared as the top most billionaires. The scenario is looking great, as India is coming as number one in industries."

China is home to 115 billionaires on the Forbes list, with India a distant second in Asia at 55.

According to analysts, voracious consumers in Asia laid the path for many of the region's newcomers to the world's billionaire club.