Mukesh Ambani (US$26bn, rank 21) is the richest Indian. Average age of Indian billionaire is 64. Mumbai is headquarters to most of the billionaires. Manufacturing, Pharma and Tech are the preferred sectors with 22, 20 and 15 billionaires respectively. Totalwealth of billionaires shot up by 16% to US$308bn.

Flipkart will shut its groceries delivery app Nearby which was launched four months back. It was an experiment and thus no marketing was done by the e-commerce firm. Lack of customers and cost cutting are the two major reasons for shutting the app by end of this month.

The e-commerce player said, “Absence of net neutrality will affect web innovations and create digital inequality in India. We believe that the spirit of net neutrality should apply equally to all companies in India.” Earlier in April, the company had pulled out from Airtel Zero as it drew heavy criticism.