CNBC's Inside India newsletter: The changing face of India's rich

This report is from this week's CNBC's "Inside India" newsletter which brings you timely, insightful news and market commentary on the emerging powerhouse and the big businesses behind its meteoric rise. Like what you see? You can subscribe  here.

India is mourning the death of Ratan Tata, the visionary industrialist and philanthropist.

The former chairman of the Tata Group is known for bringing the storied salt-to-software conglomerate to the global stage via a string of high-profile acquisitions.

His strong business acumen led him to become one of India's wealthiest tycoons.

The billionaire placed 421 in the IIFL Wealth Hurun India Rich List 2022, based on his net worth of approximately 38 billion Indian rupees ($452 million). Another list by Fortune India-Waterfield captured his net worth as 160.4 billion Indian rupees, a figure that includes his stakes in Tata Sons, Tata Steel, Tata Consultancy Services, Tata Motors and Titan Company.

Ratan Tata — along with the Ambani and Adani families — have become household names given their wealth and influence.

They are, however, becoming less representative of the South Asian powerhouse's growing super-rich population.

A new rich populace

"The previous school of thought was that rich people were just the Tatas, Birlas or the Ambanis. But, that's changing today — the rich are not just leaders of traditional business conglomerates," Himanshu Kohli, the co-founder of Indian multi-family office and private wealth manager Client Associates, said.

Speaking to CNBC's Inside India, Kohli noted that India's wealthy now come from a swathe of industries.

"Lots of money has been created, whether it is in the sports arena, movies, among celebrities, investment bankers or private equity