India’s stock market boom has catapulted the country’s biggest industrialist Mukesh Ambani within reach of becoming the richest Indian and one of the world’s 10 wealthiest people.

In a vivid illustration of India’s economic rise, Mr Ambani’s personal wealth has doubled to about $44bn (€31bn, £26bn) in the past year thanks to a more than 100 per cent increase in the share price of Reliance Industries, his flagship oil and retailing group.