Indian Universities with Most Billionaire Alumni 2023

Data Facts

This study is based on the Forbes Indian billionaire real time list for June 2023.

Mumbai University features at the top place that associated with 25 Indian billionaires. (Surprisingly, it is the only university outside the US which was included in the top 10 universities in the world for producing the most billionaires in Forbes 2021). Gujarat University and IITs share the second rank in the Indian billionaires list with 7 Indian billionaires. Calcutta University and Delhi University share the third rank in the Indian billionaires list with 6 Indian billionaires. University dropouts are included as alumni of universities. At least 7 Indian billionaires are school dropouts and didn’t even attend a college/university. So they aren’t associated with any university. 12 Indian billionaires have obtained their bachelor’s degrees outside India.

In my view, in the future, this list may be changed drastically as many Indian universities such as Mumbai University, Gujarat University etc. are restructured. For example, the Institute of Chemical Technology (ICT), HSNC University, HBSU etc. are branched out from Mumbai University. Also, emerging technologies like AI, Blockchain, EV batteries etc. are growing much faster than others. So, the next generation of Indian billionaires may come from those fields. At present, seven Indian billionaires among the top ten have studied commerce. However, among the top 100, engineering graduates are leading with 31 billionaires, while commerce graduates are closely second with 28 billionaires. (Another interesting fact, out of the richest 10 Indian Americans (NRIs having US citizenship and featured in the American Billionaires List), five (half of them) are studied in IITs.)


How much did Indian state universities grow?**

Some examples:

  • Till 1980, Mumbai University had around 120 affiliated colleges.Today, it has around 800 affiliated colleges.
  • Till 1980, Pune University had around 80 affiliated colleges.Today, it has around 810 affiliated colleges.
  • Till 1980, Gujarat University had around 65 affiliated colleges.Today, it has around 321 affiliated colleges.

How much did Indian central universities grow?

Some examples:

  • Till 1980, Delhi University had around 61 affiliated colleges.Today, it has around 82 affiliated colleges.
  • No new college affiliated with BHU was established after 1960.
  • Only one new college has been affiliated with Allahabad University since 1980.
  • However, many new central universities were established in most states after 1980.
  • Some universities have increased seats in the existing affiliated colleges rather than increasing affiliated colleges.

How much did IITs grow?

  • Till 1980, only 5 IITs were present. Today, that number has grown to 23.

(**All numbers are estimated. It is not possible to track the correct figure as some colleges that were affiliated with one university in 1980 may now be affiliated to another university. University departments aren’t counted as affiliated colleges.)