Latest news with #HurunGlobalRichList2025
Time of India
30-04-2025
- Business
- Time of India
Tech sector cautiously optimistic; cost pressures may spur opportunities: HCL Group's Roshni Nadar
Live Events Amid the ongoing global trade cross-currents, the tech industry remains "cautiously optimistic" and believes that tariff and inflationary pressures in the US may trigger cost-optimisation moves leading to "opportunities" for Indian IT companies, Roshni Nadar Malhotra, Chairperson of HCL Group has said. Roshni Nadar Malhotra - ranked fifth among the world's wealthiest women - termed the trade and tariff situation as "a double-edged sword"."We remain cautiously optimistic because we work for customers across these industries which could be impacted by tariffs, not us as an industry directly, especially in the largest markets, which is in the US," she said on the sidelines of an the same time, there is a realisation that the only way to counter tariff pressures, and indeed any rise in inflation, is cost optimisation."That is where technology can help, so it is a bit of a double-edged sword in terms of what is happening, but there are opportunities," she top boss of HCL Technologies , Nadar scripted history when she became the first Indian to step into the top 10 in Hurun Global Rich List 2025 for climb to the coveted spot came after her father Shiv Nadar, the billionaire founder of HCL Technologies , transferred 47 per cent of his stake in HCL Corporation and Vama Sundari Investments (Vama Delhi) to her - a move that made her the largest shareholder of the $12 billion tech comments come at a time when the Indian IT industry's narrative post-Q4 performance has been largely subdued, as macro uncertainties compounded by global trade woes are seen to be eroding sentiments and weighing on business USD 280 billion Indian IT sector is not directly hit by Trump 's tariff order on goods, per se, but it does derive a sizeable chunk of revenue from servicing clients in the US, a market some say is staring at an increased risk of slowdown, or worse -- and the US are meanwhile engaged in talks to hammer out a bilateral trade agreement that would avoid reciprocal tariffs. A 26 per cent 'reciprocal' tariff on Indian exports to the US is currently on a 90-day pause, set to expire on July 8. However, like other countries, India is presently subject to a 10 per cent tariff under the existing this week, US Treasury Secretary Scott Bessent said that India is likely to be among the first countries to finalise a bilateral trade agreement with America to avert reciprocal tariffs by President Donald such, India's IT services sector has been facing growth headwinds over the past quarters with clients in the US and the EU closely scrutinising tech spends amid economic pressures, while increased AI fascination had compounded fears of reduced job creation globally. Adding to the woes now, prospects of global economic wars, given the US' tariff offensive on trading partners and major allies, has deepened worry lines about slowdown in the United States, and uncertainties this month, HCL Technologies posted an 8.1 per cent increase in consolidated net profit at Rs 4,307 crore for March quarter 2024-25, mainly on account of large deals with a total contract value of about Rs 25,500 had logged a profit of Rs 3,986 crore for the same period a year from operations increased 6.1% to Rs 30,246 crore from Rs 28,499 crore in the March quarter of the year ended March 31, 2025, HCL Technologies posted an increase of about 11 per cent in net profit at Rs 17,390 crore from Rs 15,710 crore in FY24. Revenue from operations rose 6.5 per cent to Rs 1,17,055 crore FY26, the company expects revenue growth of 2-5 per cent on year-on-year basis in constant currency terms and its services revenue growth too is expected to be in the same range which is higher than its major the guidance, HCL Tech CEO and Managing Director C Vijayakumar had recently said that discretionary spending will continue to be subdued in this environment."Geopolitical factors like tariff and deglobalisation are expected to impact IT services. In the coming months, it will be an important topic to observe and monitor the ongoing development."As we look beyond the uncertain short term, I strongly believe there will be strong growth opportunities emerging out of the market uncertainty," he had said.
Khaleej Times
27-03-2025
- Business
- Khaleej Times
GCC business moguls rise in Hurun global wealth rankings
The latest Hurun Global Rich List 2025 reaffirmed Silicon Valley's grip on global wealth, with American tech magnates claiming nine of the top 10 spots. However, the report also spotlighted the growing influence of the GCC business leaders, whose fortunes surged amid regional economic diversification and strategic investments in sectors ranging from construction to artificial intelligence. Tesla CEO Elon Musk retained his title as the world's wealthiest person, with his net worth skyrocketing 82 per cent to $420 billion, fuelled by Tesla's market dominance and political tailwinds under the Trump administration. Amazon founder Jeff Bezos ($266 billion) and Meta's Mark Zuckerberg ($242 billion) followed, while French luxury titan Bernard Arnault (LVMH) remained the sole non-American in the top 10, securing seventh place with $157 billion. Oracle's Larry Ellison ($203 billion) and Berkshire Hathaway's Warren Buffett ($167 billion) rounded out the top five, underscoring the tech and investment sectors' continued dominance. Alphabet co-founders Larry Page ($164 billion) and Sergey Brin ($148 billion), along with Microsoft veterans Steve Ballmer ($156 billion) and Bill Gates ($143 billion), completed the elite cohort. While Silicon Valley reigned supreme, Gulf billionaires carved out notable positions, driven by ambitious national visions and cross-sector expansion: Khalaf Al Habtoor (UAE), the construction and hospitality mogul, saw his wealth climb to $28 billion (global rank 78) as Dubai's tourism boom boosted his empire. Mohamed Alabbar's (UAE), the founder of Emaar Properties, ventures in e-commerce (Noon) and logistics propelled his net worth to $19 billion (142). Prince Alwaleed bin Talal's (Saudi Arabia) investments in Lyft, Citigroup, and Riyadh's futuristic NEOM project lifted his fortune to $21 billion (115). Sheikh Mohammed bin Jassim Al Thani (Qatar), The telecom and banking heir, surged to $15 billion (210) amid Qatar's post-World Cup infrastructure deals. These gains reflect the GCC's push to reduce oil dependency, with wealth increasingly tied to tech startups, renewable energy ventures, and megaprojects like Saudi Arabia's $500 billion NEOM. India's Gautam Adani emerged as the nation's top wealth gainer, adding $12 billion to reach $122 billion (ranked 18 globally), bolstered by his green energy pivot. Meanwhile, Mukesh Ambani retained his title as Asia's richest person ($98 billion, ranked 24) despite Reliance Industries' stock slump, as investors cautiously backed his digital and renewables transition. The 2025 list featured 3,442 billionaires (up five per cent from 2024), with total wealth rising 13 per cent to $15.8 trillion. While the US and China accounted for 55 per cent of entries, the CC's representation grew by eight per cent, signaling the region's rising clout. 'The Gulf's strategic investments in AI, tourism, and sustainability are reshaping its economic narrative,' said Hurun Report's chief analyst. 'We're witnessing a new generation of tycoons who are as likely to invest in Silicon Valley startups as in desert smart cities.' As geopolitical and economic power continues to shift, the 2025 Hurun List highlights a world where Silicon Valley's tech dynasty persists, but Gulf visionaries and Asian industrialists are steadily rewriting the rules of wealth creation.
