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Mukesh Ambani built three sector-dominating businesses under RIL and cleaned off the conglomerate s debts by raising Rs 2.89 lakh crore
Mukesh Ambani, Chairman and Managing Director of Reliance Industries - Photograph by Bandeep Singh
Tmpossible is not a fact. It s an opinion, stated boxing legend Muhammad Ali. That applies to billionaire Mukesh Ambani too. In 1997, his father Dhirubhai Ambani asked him to build Asia s largest petroleum refinery at Jamnagar in 24 months, against the usual 60 months then. Mukesh Ambani charted out a new work schedule, counting backwards from the target date and pulled it off. When it came to creating two consumer focused businesses almost two decades later, sceptics said it would be impossible for Ambani. He proved them wrong by building India s most profitable telecom and retail businesses - Reliance Jio and Reliance Retail - by simply widening the scope of the sectors.
RSS wing cautions against nexus of MNCs, Indian business houses in retail
Swadeshi Jagaran Manch adopts a resolution against MNCs and Indian business houses, saying such ventures are detrimental not only to a large population engaged in multi-brand retail but also to manufacturers and consumers
Joe C Mathew | December 13, 2020 | Updated 16:58 IST
These developments would result in a monopolistic situation, says SJM
RSS affiliate Swadeshi Jagaran Manch (SJM) has cautioned the government against the monopolistic situation in Indian retail sector and urged changes in foreign direct investment (FDI) rules to block the entry of multinational corporations in the retail sector.
The 14th All India Sammelan of SJM held virtually on December 13 adopted a resolution against the alleged nexus of MNCs and Indian business houses, stating that such ventures are detrimental to not only a large population engaged in multi-brand retail in the shape of local kirana stores but also manufact