P.V. Krishna Reddy, managing director of Megha Engineering & Infrastructures Ltd., right, and Nitin Gadkari, India's Minister of Road Transport and Highways, center, visit the 435 meter Nilgrar tunnel, part of the Zojila Tunnel Project.
Photographer: Sumit Dayal/BloombergFive Under-the-Radar Billionaires Making Vast Fortunes in Modi's India
It’s no longer just about storied clans like the Adanis and Ambanis.
Indian Prime Minister Narendra Modi’s regime is minting billionaires at a brisk pace, propelling a host of lesser-known entrepreneurs into the ranks of the ultra-wealthy.
Reductions in corporate taxation, a record stock market rally and policy reforms designed to remove obstacles for the private sector have helped turbocharge the growth in fortunes across sectors as diverse as defense, mining and Indian traditional medicine.