Dhirubhai Ambani's success tale

Success story, get full details.

Tuesday, 22nd June 2021

Dhirajlal Hirachand Ambani, a true rags-to-riches storey, is unquestionably India's most entrepreneurial entrepreneur. Dhirubai was born in a Gujarati household and migrated to Yemen at the age of 16 to work as a dispatch clerk for A. Besse & Co.

He returned to India after working in Dubai for a while and founded the Reliance Commercial Corporation with a meagre capital of Rs. 15000. He founded the company with Champaklal Damani, with whom he parted ways in 1965.

Dhirubhai established his first textile plant in Naroda, Gujarat, and developed the "Vimal" brand. Telecommunications, Information Technology, Energy, Power, Retail, Textiles, Capital Markets, and Logistics were among his later diversifications.

He emerged from humble origins to build India's largest industrial empire, becoming one of the world's wealthiest individuals in the process. He changed India's corporate history, earning him a spot on Forbes' list of chosen billionaires. He was also named to the Sunday Times' list of Asia's top 50 businessmen.

Dhirubhai was hailed for his significant role in moulding India's stock market culture by drawing hordes of retail investors to a market monopolised by state-run financial institutions. He was credited with starting the equity cult in India.

He never did things the traditional way, and his business techniques were frequently targeted, causing him to court controversy throughout his life. The 'Dhirubhai school of management' was adamant that the only thing that mattered were the end results and the rewards that directly benefited the stockholders.

During his lifetime, he received numerous prizes and honours. Chemtech Foundation and Chemical Engineering World honoured him with the 'Man of the Century' award in 2000 for his contributions to the growth and development of India's chemical sector. In 1998, The Wharton School, University of Pennsylvania, presented him with the Dean's Medal for creating an exemplary example of leadership. The Federation of Indian Chambers of Commerce and Industry awarded Dhirubhai Ambani the "Man of the Century" (FICCI).

Dhirubai was the epitome of guts and dedication. He believed in his dreams and lived them out. “Dhirubhai would depart one day,” he believed. Reliance's employees and owners, on the other hand, will keep the company afloat. The Ambanis are no longer relevant to the concept of reliance.”

He handed up Reliance Group to his sons Mukesh and Anil in 1986 after suffering a severe heart attack. Following his death, the massive corporate conglomerate was divided into Mukesh Ambani's Reliance Industries and Anil Ambani's Reliance Anil Dhirubhai Ambani Group (ADAG).

By birth, he was a visionary, and his life has served as an inspiration to many and will continue to do so for future generations.

The News Talkie Bureau

Source

MBA Rendezvous.