Word: ambani
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...which in its last financial year reported more than $22 billion in annual revenues (3.5% of India's GDP) from sectors as diverse as oil refining, power generation and mobile-phone service, is the most successful private enterprise in India's history. Founded in 1958 by the late Dhirubhai Ambani, the group has prospered and expanded through changes of government, seismic shifts in public policy and the opening of India's economy. Rivals sometimes complain about Reliance's access to politicians and its aggressive business tactics, but ordinary citizens give the conglomerate their vote of approval: more than 3.1 million...
...problems started with two words. On Nov. 19, India's newspapers carried front-page reports that Mukesh Ambani, the 47-year-old son of Dhirubhai and the chairman of Reliance Industries, the group's flagship petrochemicals and oil venture, had admitted to "ownership issues" at the company, which he and younger brother Anil, the vice chairman, had been running since their father's death in July 2002. For four days speculation ran amok in the Indian press that the brothers had started sparring over control of Reliance. On Nov. 22, Mukesh issued a statement saying that his words had been...
...letter to Mukesh complaining that he had received no reply to his July e-mail and expressing "deep concern at this unhappy turn of events, and the sad reflection it represents of how we are seeking to preserve, and carry forward the legacy ... of our beloved founder Chairman, Dhirubhai Ambani." A senior Reliance official close to Mukesh insists that he was not trying to extend his powers at Anil's expense but merely emphasizing that the chairman ran Reliance. Although the crux of the dispute appears to be Anil's growing conviction that he was being sidelined by his brother...
...acre Dhirubhai Ambani Knowledge City on the outskirts of Bombay is a showcase for India's high-tech sector. There, some 8,000 employees of Reliance Group, the country's largest private conglomerate, operate call centers, monitor the company's fiber-optic network and update data services provided to cell-phone subscribers. Many would not associate the gleaming campus with Reliance, which blossomed under legendary founder Dhirubhai Ambani in traditional industries such as textiles and petrochemicals. But Knowledge City is evidence that a new generation of Ambanis is reinventing India's most powerful business enterprise...
...Ambani boys appear to have absorbed their father's deft political touch too. Reliance triggered a row last year over its ability to enter the cell-phone market via a side door, without having to pay the high fees required of government-sanctioned operators. Despite the controversy, Reliance paid a $116 million penalty--which its critics said was a bargain--and continued to grab market share. Mukesh says he's determined to keep Reliance growing. His father demonstrated that Indian companies can be modern, vital and competitive. The sons have picked up the torch. "People will remember you after...