India's 10 Largest Wealth Destroyers In 2013

2. Reliance Communications

Reliance communications is considered as the second largest telecom operator in India after Bharti Airtel but now they are 2^nd in the list of wealth destroyers. They had around 1.5lakh crore of market capitalization in 2008 but later they faced a huge erosion of over 90 percent. The amount of wealth destroyed was approximately 92100 crore which would come up to 5 percent of wealth.

3. MMTC (Metals and Minerals Trading Corporation of India)

MMTC are into export of primary products like Coal, Iron ore and import of some commodities like ferrous and nonferrous metals. They also manufacture agro and industrial products and in addition to that they are one of the two highest earners for foreign currencies. It is hard to believe that one, who is the key player in bullion trade and retailing, is among the wealth destroyers. The amount of wealth destroyed by them was approximately 89,100 crore which will be around 5 percent of wealth.

4. NMDC (National Mineral Development Corporation)

Government owned NMDC is one the largest producers of minerals. They are into exploration of diamond, dolomite, iron ore, graphite etc. Being one of the major producer of iron ore, NMDC is responsible for destroying wealth of approximately 82,200 crore, which is about 5 percent of wealth destroyed.

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