Being home to 131 billionaires, India has regained its third position in this year’s Hurun Global Rich List which was released on Wednesday – right behind China and the US; and leaving behind countries like the United Kingdom, Germany and Russia.

31 new billionaire entries and a total of 131 billionaires, India has managed to climb back to third spot and leaving the United Kingdom, Germany and Russia in the Hurun Global Rich List 2018. With this, India became the country which is home to third highest number of billionaires across the world. India regained the third position, which was lost to Germany last year. Also, according to the Hurun Global Rich List 2018, four Indians made it to the top 100 billionaires worldwide – including Mukesh Ambani of Reliance Industries at USD 45 billion, Dilip Shanghvi of Sun Pharma at USD 15 billion, Gautam Adani of Adani Enterprises at USD 15 billion and Shiv Nadar of HCL technologies at USD 14 billion.

The list however, is led by China with 819 billionaires in 2017, beating the United States, which is placed second with 571 billionaires. A total of 2,694 billionaires from 69 countries and regions are included in the Hurun Rich List. Among them, 567 billionaires are new entrants, with 210 from China. Also, 7 of the top billionaires in this year’s list is the USA. For India, the pharmaceutical industry has proved to be the biggest contributor with 19 of the total billionaires – followed by Automobile and Components with 14 billionaires, while the consumer products sector made 11 billionaires.

The combined wealth of all Indian billionaires has boosted up by 49% in last year and the average age of billionaires is 64 – concentrated in Mumbai and Delhi mostly. However, India needs a lot of improvement to reach the Chinese feat which boasts Beijing – dubbed as the “Billionaire Capital of the World” for the third year running, followed by New York. Greater China is home to one-third of the top 30 cities with most billionaires.