Energy tycoon and Reliance Industries chairman Mukesh Ambani is India's richest man with personal wealth of $19.3 billion, while steel baroness Savitri Jindal topped the richest woman list with a personal fortune of $5.6 billion, China-based research firm Hurun said.

The Indian business magnate beat 59 Indian billionaires in dollar terms to the top, followed by London-based steel baron Lakshmi Narayan Mittal. Arcelor Mittal, chairman of ArcelorMittal, has a personal wealth of $16.9 billion, according to the report.

Azim Premji, Chairman of Wipro Limited, became the third richest man in India with $12.3 billion in personal wealth, followed by Dilip Shanghvi, managing director of Sun Pharmaceutical Industries Limited, with $8.5 billion and Pallonji Mistry chairman of Shapoorji Pallonji Group with $7.9 billion.

Savitri Jindal, steel baroness, is India's richest woman with wealth $5.6 billion, while Kiran Mazumdar-Shaw of Biocon Limited is the country's self-made richest woman worth $600 million.

[Photos of Mukesh Ambani and other top 10 people who made it to the list]

The other top four Indian business men who made to the list are Shashi & Ravi Ruia of Essar Group with fortune worth $7.2 billion, Adi Godrej of Godrej groups with $6.9 billion, Kushal Pal Singh chairman of DLF Limited with $6.3 billion, Kumara Mangalam Birla of Aditya Birla group with fortune worth $5.8 billion.

For the tenth position there is tie between Shiv Nadar of HCL Technology and Sunil Mittal of Bharti Airtel, each with fortune worth $5.7 billion.

Hurun Report Inc is a leading research house and publishing group based in Shanghai, China.

"The stories of the people on the Hurun India Rich List tell the story of business in modern India," Rupert Hoogewerf, Hurun Report Chairman and Chief Researcher said.

At least 52 from the rich list saw their wealth shrink, and the shrinkage was by more than 25 percent for 21 of them, according to reports.

Among the people whose wealth were adversely affected in 2012 includes Ambani, LN Mittal, Shashi and Ravi Ruia, Mangalam Birla and Sunil Mittal, while magnets whose fortunes were on the upswing include Azim Premji, Sanghvi, Mistry and Nadar.

"This was mainly due to the 12% depreciation of the Rupee against the US Dollar, which negated the appreciation in India's stock markets," said Anas Rahman Junaid of GyanMagnus Associates, Hurun Report's chief Indian research partner.

[Photos of Mukesh Ambani and other top 10 people who made it to the list]

Check out the top ten list below:

Chairman Of Reliance Industries topped Forbes' list of richest Indian with $21 billion

Lakshmi Mittal, Chairman and Executive officer of world's largest steel making company ArcelorMittal is at No.2 with fortune worth 16.9 billion dollars

Azim Premji, Chairman of Wipro, is at third position with $11.2 billion

Managing driector of Sun Pharmaceutical Industries is at 5th position with fortune worth $9.2 bn

Ravi and his brother Shashi Ruia of Essar Energy is at No. 6 with wealth worth 7.2 bn dollars

Indian industrialist and philanthropist Adi Godrej of Godrej Group hold on at No.6 with $9 bn

K P Singh, chairman and CEO of DLF Limited, made it to the list with 6.3 bn dollars

Kumar Mangalam Birla of Aditya Birla Group is at No.10 with $7.8 bn dollars

Shiv Nadar of HCL Technology made it to top ten with 5.7 bn dollars

Sunil Mittal of Bharti Airtel made it to top ten with 5.7 bn dollars