Word: dhirubhai
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...conglomerate, 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...
...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...
...After Dhirubhai died in July 2002, his sons, Mukesh and Anil (estimated combined net worth: $2.8 billion), took control. They have been on an expansion tear ever since, successfully bolstering Reliance's presence in power generation, oil exploration, finance and biotech, and consolidating the company's position as a leading player in India's fast-growing telecom sector. With revenues of $16.8 billion, Reliance last year accounted for 3.5% of India's GDP. So confident are Indians in the firm's future that 1 out of every 4 stock-owning citizens hold Reliance shares...
That's a large cheering section, especially considering the doubts voiced after Dhirubhai's death. Mukesh, 46 and chairman of the group's flagship Reliance Industries, and Anil, 44, its vice chairman, seemed so different from their father, a self-made man famed for his ability to work India's byzantine bureaucracy to his advantage. Some wondered whether the high-born brothers could even work together. The flashy Anil, who is married to a former film actress, likes designer clothes and jogs every morning, his chauffeur driving slowly behind. Mukesh is sedate and prefers spending time with his children...
...BUSINESS Obituary: Dhirubhai Ambani...