New York (PTI): The West's drive to save money has helped seven individuals in the world, including five Indians, make their billions by setting up shop to meet outsourcing needs.

Wipro Chairman Azim Premji, Infosys' N R Narayana Murthy, Nandan Nilekani and Senapathy Gopalakrishnan and HCL Technologies' Shiv Nadar are among the world's top outsourcing billionaires named by Forbes magazine.

The list also features two from Taiwan Terry Gou, Chairman of the world's largest contract manufacturer Hai, and Barry Lam of Quanta Computer.

In March, Forbes had published 'The World's Billionaires' list, which was topped by legendary investor Warren Buffett.

Together, the five Indian outsourcing billionaires are estimated to be worth 20.7 billion dollars, with Azim Premji's wealth pegged at 12.7 billion dollars.

"There is such a rapid development of capital markets in other countries that even small discrepancies in salary and the cost of labour are significant.

"These billionaires have capitalised on the fact that developing nations are growing 2-3 times as quickly as countries like the US, essentially fuelling an offshore outsourcing trend whose expansion appears to have few boundaries," the magazine said in its report.

In the Forbes list of 1,125 billionaires, Azim Premji was ranked 60th, while Shiv Nadar with a fortune worth 3.9 billion dollars ranked 277.