The growing list of billionaires in India is an enticing prospect for executive jet makers seeking to recover from a slump in demand caused by the financial crisis.

Prominent among exhibitors at the ongoing Aero India 2011 air show in Bangalore were manufacturers such as US-based Gulfstream and Brazil’s Embraer – both hoping to seduce corporate high-flyers with their luxury private planes.

The global private jet market had a hard landing in 2008-09, with jet prices plunging by up to 30 percent and actual flying time falling by an estimated 40 percent.

Indian billionaire Mukesh Ambani has hosted a lavish housewarming party to show off his just-completed new skyscraper residence.

Some 80 of India’s rich and famous attended the party on Friday night at the 27-storey building, which dominates the Mumbai skyline.

Indian novelist Shobhaa De called the building – reported to be the world’s priciest private residence -”the Taj Mahal of the 21st century”.

India’s richest man, and Forbes’s fourth richest man, Mukesh Ambani, has built the world’s most expensive house in Mumbai. It is estimated to be worth $1 billion.

The 37,000-square meter home, which took seven years to build, is bigger than the Palace of Versailles, London’s Telegraph reported.

It contains a health club with a gym and dance studio, at least one studio, a ballroom, guestrooms and a range of lounges and a 50 seater cinema.

The world’s new richest man, Mexican Carlos Slim, and a fresh crop of billionaires in Asia helped lead a comeback for the wealthiest few on the planet in 2010, Forbes magazine said Wednesday.

The publication’s annual rich list reflected a resurgence of wealth after the financial turmoil of 2009, with the top 10 wealthiest worth a combined 342 billion dollars, compared to 254 billion dollars in the previous year.

“The global economy is recovering. The financial markets came back, especially emerging markets,” said magazine editor-in-chief Steve Forbes.

“There’s a 50 percent increase in general global wealth compared to last year,” Forbes said.

Certainly the economy recovered for the super rich, who took a beating during last year’s stock and commodity market collapses, but saw across-the-board gains this year.

Forbes counted 1,011 billionaires from 55 countries, up from 793 last year, though still shy of the pre-crisis 1,125 listed in 2008.

India’s richest man took a 66 percent pay cut to “set a personal example of moderation” after India’s government called for austerity in salaries of executives

Mukesh Ambani, the head of Reliance Industries, said he would cap his pay at 150m rupees ($3.3m) this year. He received 440m rupees in 2008.

With a net worth of $19.5 billion, Mukesh Ambani has been ranked seventh in the global list, topped by Microsoft founder Bill Gates ($40 billion).

In addition to arguably being the most expensive private home in the world ($1 Billion to build), it will also be the tallest–measuring in at 42 stories.

Residence Antilla, though, will only have 27 stories, due to Ambani’s desire for taller ceilings.

Mukesh Ambani is reported to be the 14th richest man in the world, with estimated personal wealth of around $21 billion. He is also one of the more visible men of wealth in India.