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Monday, June 29, 2009

Early lifeDhirubhai Ambani was born on 28 December 1933, at Chorwad, Junagadh (now the state of Gujarat, India) to Hirachand Gordhanbhai Ambani and Jamnaben[1] in a Modh Bania family of very moderate means. Although he was born in Gujarat, he is of Sindhi descent, which is a socio-ethnic group that belonged to Sindh, a former area of Northwest India that now belongs to Pakistan after the Partition. [2] He was the second son of a school teacher. Dhirubhai Ambani is said to have started his entrepreneurial career by selling "pakora" to pilgrims in Mount Girnar over the weekends.[3] When he was 16 years old, he moved to Aden, Yemen. He worked with A. Besse & Co. for a salary of Rs.300. Two years later, A. Besse & Co. became the distributors for Shell products, and Dhirubhai was promoted to manage the company’s filling station at the port of Aden.He was married to Kokilaben and had two sons, Mukesh Ambani and Anil Ambani and two daughters, Nina Kothari and Deepti Salgaocar.Commercial CorporationIn 1962, Dhirubhai returned to India and started the Reliance Commercial Corporation with a capital of Rs.15,000.00. The primary business of Reliance Commercial Corporation was to import polyester yarn and export spices.The business was setup in partnership with Champaklal Damani, his second cousin, who used to be with him in Aden, Yemen. The first office of the Reliance Commercial Corporation was set up at the Narsinatha Street in Masjid Bunder. It was a 350 sq ft. room with a telephone, one table and three chairs. Initially, they had two assistants to help them with their business. In 1965, Champaklal Damani and Dhirubhai Ambani ended their partnership and Dhirubhai started on his own. It is believed that both had different temperaments and a different take on how to conduct business. While Mr. Damani was a cautious trader and did not believe in building yarn inventories, Dhirubhai was a known risk taker and he considered that building inventories, anticipating a price rise, and making profits. [4]. In 1968, he moved to an upmarket apartment at Altamount Road in South Mumbai. Ambani's net worth was estimated at about Rs.10 lakh by late 1970s.Asia Times quotes[5]: "His people skills were legendary. A former secretary reveals: "He was very helpful. He followed an 'open-door' policy. Employees could walk into his cabin and discuss their problems with him." The chairman had a special way of dealing with different groups of people, be they employees, shareholders, journalists or government officials. Ambani's competitors allege that he bought off officials and had legislation re-written to suit him. They recall his earlier days and how he picked up the art of profiteering from the then-Byzantine system of controls of Indian officialdom. He exported spices, often at a loss, and used replenishment licenses to import rayon. Later, when rayon started to be manufactured in India, he exported rayon, again at a loss, and imported nylon. Ambani was always a step ahead of the competitors. With the imported items being heavily in demand, his profit margins were rarely under 300 percent."Reliance TextilesSensing a good opportunity in the textile business, Dhirubhai started his first textile mill at Naroda, in Ahmedabad in the year 1966. Textiles were manufactured using polyester fibre yarn.[6] Dhirubhai started the brand "Vimal", which was named after his elder brother Ramaniklal Ambani's son, Vimal Ambani. Extensive marketing of the brand "Vimal" in the interiors of India made it a household name. Franchise retail outlets were started and they used to sell "only Vimal" brand of textiles. In the year 1975, a Technical team from the World Bank visited the Reliance Textiles' Manufacturing unit. This unit has the rare distinction of being certified as "excellent even by developed country standards" during that perio..........................................

Saturday, May 2, 2009

  • “ A stock broker is one who invests other people’s money until its all gone.”
    -Woody Allen, American Film Maker
  • “ Average investors who try to do a lot of trading will only make their brokers rich.”
    -Michael Jenson, Finance Professor -Harvard.
  • “ To the investment manager, soft dollars are someone else’s money and hard dollars are your own.” -Dean own.”Ibid.
  • “ Nobody works as hard for his money as the man who marries it.”
    -Kin Hubbard, 1868-1930, American Journalist.
  • “ There are three classes of people who don’t think markets work: the Cubans, the North Koreans and the active find managers.”-Rex Sinquefield, Dimensional Fund Managers.

  • “ It is difficult to find a portfolio to find a portfolio manager who will continue to provide superior performance after he is retained”-Eugene B. Burroughs
  • “ We have two classes of forecasters: Those who don’t know and those who don’t know they don’t know.”-Jhon Kenneth Galbraith.
  • “ The periods of boredom have grown shorter and shorter-and the terrors last a bit longer.”
    -Arthur Cashin, Floor Broker, New York Stock Exchange.
  • “ Stocks are bought on expectations, not facts.”
    -Gerald M. Loeb
  • “ I never attempt to make money on the Stock Market. I buy on the assumption that they could close the market the next day the next day not reopen it for five years.” -Warren Buffet.

  • “ Give me a stock clerk with a goal and I’II give you a man who will make history. Give me a man with no goals and I’II give you a stock clerk.” -James Cash.
  • “ Sometimes your best investments are the ones you don’t make.’ -Donald Trump.

  • “ Great investment opportunities come around when excellent companies are surrounded by unusual circumstances that cause the stock to be misappraised.” -Warren Buffet.

  • “ Gambling with cards or dice or stock is all one thing. It’s getting money without giving an equivalent for it .” Henry Ward Beecher.
  • “ Never make forecasts, especially about the future.” -Samuel Goldwin.

  • “ Sell to the sleeping point.—if you are troubled by an investment but still desire to hang onto it,sell just enough so that you can feel that you’ve ‘dealt’ with the anxiety and can calmly sleep at night, but you’ve kept enough to feel comfortable with what you have left.”
  • “ Obvious prospects for physical growth in a business do not translate into obvious profits for investors” -Ben Graham in The Intelligent Investor.

Thursday, February 19, 2009

Growth through Energy Security for IndiaIndia imports about two-thirds of its crude oil requirement. Exploration and production of oil and gas is critical for India's energy security and economic growth. Reliance's oil and gas exploration and production business is therefore inexorably linked with the national imperative. Exploration and production, the initial link in the energy and materials value chain, remains a major growth area and Reliance envisions evolving as a global energy major.Over the years the E&P industry has registered significant growth, primarily due to spiraling crude oil and gas prices. With growing competition and ever growing demand for energy, especially from developing countries, the focus is on energy security. Global demand for oil grew by 0.8% from 83.1 million barrels per day in 2005 to 83.8 million barrels per day in 2006. India's share is a meager 0.5 % of global oil reserves of 1,189 billion bbl, while it consumes 3.2 % of global oil consumption every year.The growing demand for crude oil and gas in the country and policy initiative of Government of India towards increased E&P activity, have given a great impetus to the Indian E&P industry raising hopes of increased exploration. Natural Gas prices in Asia and Europe which are predominantly linked to crude remained volatile and Henry hub natural gas prices averaged US$ 8/MMBTU for 2006. The International Energy Agency (IEA), in its world energy outlook, has estimated investment requirements of over US$ 8.2 trillion over the next two decades in order to bridge the demand supply gap. This is substantially higher than its earlier forcast of US$ 5.3 trillion which underlines a positive demand outlook for energy.Under the New Exploration Licensing Policy (NELP) of Government of India, blocks have been acquired by various E&P companies for exploration. The efforts have resulted in a number of oil and gas discoveries in India and have changed the perception and prospects of the Indian sedimentary basins and the focus on Indian E&P Industry.RIL is the largest Oil & Gas acreage holder among the Private sector companies in India with 33 domestic exploration blocks covering an area of about 337,000 sq. km. This is in addition to its interest in three exploration blocks in Yemen, two each in Oman and Columbia and one each in East Timor and Australia covering an area of about 38,000 sq. km. RIL also has 5 coal bed methane (CBM) blocks covering an area of about 4,000 sq. km.RIL is India's first private sector company in the Exploration and Production (E&P) sector to have discovered large gas reserves. The E&P strategy of RIL is aimed at further enhancing the level of vertical integration in its energy business, and realising value across the entire energy chain, while fulfilling important national priorities.In the years to come, RIL is well positioned to be amongst the largest value creators in the upstream oil and gas sector. RIL's portfolio of E&P assets, gives it the potential to create value across entire value chain from wellhead to burner tip. Accretion of new reserves through exploration, development of existing oil and gas reserves and development of related downstream infrastructure facilities would result in significant value creation for RIL in future. On a cumulative basis, we have drilled 51 exploratory wells thus far in our acreage in India with a success rate of 61%. These are in addition to the 3 appraisal wells drilled in the KG-D6 blockReliance GroupThe Reliance Group, founded by Dhirubhai H. Ambani (1932-2002), is India's largest private sector enterprise, with businesses in the energy and materials value chain. Group's annual revenues are in excess of US$ 34 billion. The flagship company, Reliance Industries Limited, is a Fortune Global 500 company and is the largest private sector company in India.Backward vertical integration has been the cornerstone of the evolution and growth of Reliance. Starting with textiles in the late seventies, Reliance pursued a strategy of backward vertical integration - in polyester, fibre intermediates, plastics, petrochemicals, petroleum refining and oil and gas exploration and production - to be fully integrated along the materials and energy value chain.The Group's activities span exploration and production of oil and gas, petroleum refining and marketing, petrochemicals (polyester, fibre intermediates, plastics and chemicals), textiles and retail.Reliance enjoys global leadership in its businesses, being the largest polyester yarn and fibre producer in the world and among the top five to ten producers in the world in major petrochemical products.The Group exports products in excess of US$ 20 billion to 108 countries in the world. Major Group Companies are Reliance Industries Limited (including main subsidiaries Reliance Petroleum Limited and Reliance Retail Limited) and Reliance Industrial Infrastructure Limited .

Saturday, February 7, 2009



Spirit of Shri Dhirubhai H. Ambani






Quotes at various forums



Only when you dream it you can do it."

"Think big, think fast, think ahead. Ideas are no one's monopoly"
• "Our dreams have to be bigger. Our ambitions higher. Our commitment deeper. And our efforts greater. This is my dream for Reliance and for India."
• You do not require an invitation to make profits."
• "If you work with determination and with perfection, success will follow."
• "Pursue your goals even in the face of difficulties, and convert adversities into opportunities."
• "Give the youth a proper environment. Motivate them. Extend them the support they need. Each one of them has infinite source of energy. They will deliver."
• "Between my past, the present and the future, there is one common factor: Relationship and Trust. This is the foundation of our growth"
• "We bet on people."
•"Meeting the deadlines is not good enough, beating the deadlines is my expectation."
• "Don't give up, courage is my conviction."



Birthplace: Chorwad, village in Saurashtra (Gujarat), India
Father's Name: Hirachand Govardhandas Ambani
Mother's Name: Jamunaben Hirachand Ambani
Career:
At the age of 17 went to Aden (now part of Yemen) and worked for A. Besse & Co. Ltd., the sole selling distributor of Shell products. In the year 1958 returned to Mumbai and started his first company, Reliance Commercial Corporation, a commodity trading and export house. In the year 1966, as a first step in Reliance's highly successful strategy of backward integration, he started the textile mill in Naroda, Ahmedabad. In the year 1975, a technical team from the World Bank certified that the Reliance textile plant was "excellent by developed country standards." In the year 1977, the company went public. Credited with a number of financial innovations in the Indian capital markets. Today, the Reliance Group has one of the largest family of shareholders in the world. With an investment of over Rs 36,000 crore (US$ 9 billion) in petroleum refining, petrochemicals, power generation, telecommunication services and a port terminal in a three-year time frame, has steered the Reliance Group to its current status as India's leading textiles-petroleum-petrochemicals-power-telecom player. Achievements: Voted India's 'Top Businessman' in the 'Best of India' poll conducted by Zee News, August 2003. Petrotech Society conferred posthumously the 'Lifetime Achievement Award' for his outstanding contribution to Downstream Petroleum Industry in India, January 2003. Rated as one of 'India's Most Admired CEOs' for the fourth consecutive year in the Business Barons - Taylor Nelson Sofres - Mode Survey, July 2002. Conferred the 'Lifetime Achievement Award' by India HRD Congress, February 2002. Conferred 'The Economic Times Award for Corporate Excellence for Lifetime Achievement', August 2001. Felicitated by the Municipal Corporation of Greater Mumbai with a citation at a civic reception, December 2000. Conferred the 'Man of the Century' award by Chemtech Foundation and Chemical Engineering World in recognition of his outstanding contribution to the growth and development of the chemical industry in India, November 2000. Conferred the 'Indian Entrepreneur of the 20th Century' award by FICCI (Federation of Indian Chambers of Commerce and Industries), for his meticulous scripting of one of the most remarkable stories of business endeavour of the 20th century, March 2000. Thrice (in the years 2000, 1998 and 1996) nominated as one of the 'Power 50 - the most powerful people in Asia' by Asiaweek magazine. Voted as the most admired Indian of the millennium in the field of Business & Economics in 'Legends - A Celebration of Excellence' poll audited by Ernst & Young for Zee Network, January 2000. Voted as 'Creator of Wealth' of the Century in The Times of India poll, January 2000. Chosen as one of the three 'makers of equity' by India Today in their special millennium issue entitled '100 People Who Shaped India in the 20th Century', January 2000. Chosen by the Indian Merchants' Chamber as "An Outstanding Visionary of the 20th Century" in recognition of his unique achievements and contribution in the development of industry and capital markets in India, December 1999. Voted as 'Indian Businessman of the Century' in Business Barons Global Multimedia Poll, December 1999.
Amongst 'The Power 50 - India's 50 most powerful decision-makers in Politics, Business & Finance', Business Barons, August 1999. Declared 'Most Admired Indian Business Leader' by The Times of India, Indiatimes.com poll, July 1999. The only Indian industrialist in 'Business Hall of Fame' in Asiaweek, October 1998. Awarded the Dean's Medal by The Wharton School, University of Pennsylvania, for setting an outstanding example of leadership, June 1998. Chosen as 'Star of Asia' by Business Week, USA, June 1998. Leading business magazine Business Barons placed him in its list of 'India's 25 Most Influential Business and Financial Leaders', June 1998. Awarded the Companion Membership of the Textile Institute, UK, an award which is limited to 50 living members who have "substantially advanced the general interests of the industries based on fibres", 1994. Chosen 'Businessman of the Year 1993', Business India, January 1994.
Family: Wife: Kokilaben.
Four children : two sons Mukesh and Anil, and two daughters, Dipti Salgaocar who lives in Goa and Nina Kothari who resides in Chennai.

Saturday, November 15, 2008

Born: December 28, 1932
Died: July 6, 2002
Achievements: Dhiru Bhai Ambani built India's largest private sector company. Created an equity cult in the Indian capital market. Reliance is the first Indian company to feature in Forbes 500 list

Dhirubhai Ambani was the most enterprising Indian entrepreneur. His life journey is reminiscent of the rags to riches story. He is remembered as the one who rewrote Indian corporate history and built a truly global corporate group.

Dhirubhai Ambani alias Dhirajlal Hirachand Ambani was born on December 28, 1932, at Chorwad, Gujarat, into a Modh family. His father was a school teacher. Dhirubhai Ambani started his entrepreneurial career by selling "bhajias" to pilgrims in Mount Girnar over the weekends.

After doing his matriculation at the age of 16, Dhirubhai moved to Aden, Yemen. He worked there as a gas-station attendant, and as a clerk in an oil company. He returned to India in 1958 with Rs 50,000 and set up a textile trading company.

Assisted by his two sons, Mukesh and Anil, Dhiru Bhai Ambani built India's largest private sector company, Reliance India Limited, from a scratch. Over time his business has diversified into a core specialisation in petrochemicals with additional interests in telecommunications, information technology, energy, power, retail, textiles, infrastructure services, capital markets, and logistics.

Dhirubhai Ambani is credited with shaping India's equity culture, attracting millions of retail investors in a market till then dominated by financial institutions. Dhirubhai revolutionised capital markets. From nothing, he generated billions of rupees in wealth for those who put their trust in his companies. His efforts helped create an 'equity cult' in the Indian capital market. With innovative instruments like the convertible debenture, Reliance quickly became a favorite of the stock market in the 1980s.

In 1992, Reliance became the first Indian company to raise money in global markets, its high credit-taking in international markets limited only by India's sovereign rating. Reliance also became the first Indian company to feature in Forbes 500 list.

Dhirubhai Ambani was named the Indian Entrepreneur of the 20th Century by the Federation of Indian Chambers of Commerce and Industry (FICCI). A poll conducted by The Times of India in 2000 voted him "greatest creator of wealth in the century".

Dhirubhai Ambani died on July 6, 2002, at Mumbai.

Thursday, October 9, 2008

(1) Early life Dhirajlal Hirachand Ambani was born on 28 December 1932 , at Chorwad, Junagadh in the state of Gujarat , India , into a Modh family of very moderate means. He was the third son of a school teacher. When he was 16 years old, he moved to Aden ,Yemen . Initially Dhirubahi worked as a despatch clerk with A. Besse & Co.. Two years later A. Besse & Co. became distributor for Shell products and Dhirubhai was promoted to manage the company’s oil-filling station at the port of Aden. He was married to Kokilaben and had two sons and two daughters.

(2) Life in Aden In the 1950s the Yemini administration realized that their main unit of currency Rial was in disappearing. After investigating the matter it was realized that all Rials were routed to the Port City of Aden. There a young man in twenties was placing unlimited buy orders of Yemini Rials. During those days the Yemini Rial was a pure silver coin and was much in demand at the London Bullion Exchange. Young Dhirubhai would buy Rial, melt it in pure silver and sell it to bullion traders in London . In the later part of his life while talking to reporters it is believed that he said “The margins were small but it was money for jam. After three months, it was stopped. But I made a few lakh of rupees. I don’t believe in not taking opportunities.”

(3) Reliance Commercial Corporation Ten years later, Dhirubai returned to India and started a business Reliance Commercial Corporation with a capital of Rs. 15000.00 (US$ 375). The primary business of Reliance Commercial Corporation was import polyester yarn and export spices. The business was setup in partnership with Chambaklal Damani , his second cousin who was also there with him in Aden , Yemen . The first office of Reliance Commercial Corporation was set up at Narsinathan Street at Masjid Bunder . It was a 350 Sq. Ft. room with a telephone, one table and three chairs. Initially they had two assistants to help them in their business. In 1965 Chambaklal Damani and Dhirubhai Ambani ended their partnership and Dhirubhai started on his own. It is believed that both had different tempermants and a different take on business, while Mr. Damani was a cautious trader and did not believe in building Yarn inventories, Dhirubhai was a known risk taker and he considered that buliding inventories with anticipating a price rise and making some profit is good for growth. During this period Dhirubahi and his family used to stay in an one bedroom apatment in Jaihind Estate in Bhuleshwar. In 1968 he moved from the chawl to an upmarket apartment at Altamount Road in South Mumbai. His first car was Premier Padmini , the Indian version of Fiat 1100 , later he brought a Mercedez-Benz Car . In 1970s he brought a white Cadillac Car.

(3) Reliance Textiles Sensing good opportunity in the business of textiles, Dhirubhai started his first textile mill at Naroda , near Ahmedabad in the year 1966 . Textiles were manufactured using polyester fibre yarn. Dhirubhai started the brand “Vimal”, which was named after his elder brother Ramaniklal Ambani’s son Vimal Ambani. Externsive marketing of the brand “Vimal” in the interiors of India made it a household name. Franchise retail outlets were started that used to sell only “Vimal” brand of textiles. In the year 1975 a Technical team from the World Bank visited Reliance Textiles’ Manufacturing unit. This unit has the rare distinction of being certified as “excellent even by developed country standards” in that period.

(4) Initial Public Offering Dhirubhai Ambani is credited with starting the equity cult in India. More than 58,000 investors from various parts of India subscribed to Reliance’s IPO in 1977. Dhirubhai was able to convince people of rural Gujrat that being shareholders of his company will only bring returns to their investment. Reliance Industries holds the distinction that it is the only Public Limited Company whose several Annual General Meetings were held in stadiums . In 1986, The Annual General Meeting of Relaince Industries was held in Cross Maidan, Mumbai, was attended by more than 30,000 shareholders.

(5) Dhirubhai’s Control Over Stock Exchanges In 1982 Reliance Industries was coming up with a rights issue of partly convertible debentures. It was rumored that the company is making all efforts to ensure that the stock prices did not slide a inch. Sensing an opportunity a bear cartel which was a group of stock brokers from Calcutta started to short sell the shares of Reliance. To counter this a group of stock brokers till recently referred as “Friends of Reliance” started to buy the short sold shares of Reliance Industries on Bombay Stock Exchange . The Bear Cartel was acting with a belief that the Bulls will be short of cash to complete the transaction and would be ready for settlement under the “Badla” trading system prevalent in Bombay Stock Exchange during those days. The bulls kept on buying and a price of Rs. 152 per share was maintained till the day of settlement. On the day of settlement the Bear Cartel was taken a back when the Bulls demanded a physical delivery of shares. To complete the transaction the much needed cash was provided to the stock brokers who had brought shares of Reliance by none other than Dhirubhai Ambani. In case of non-settlement the Bulls demanded an “Unbadla” (penalty sum) of Rs. 35 per share. With this the demand increased and the shares of Reliance shot above 180 rupees in minutes. The settlement caused enormous uproar in the market and Dhirubhai Ambani was the unquestioned king of the stock markets. He proved to his detractors as to how dangerous it is to play with Reliance. The situation was completely out of control. To get a solution for this situation the Bombay Stock Exchange was closed for three business days. Authorities of Bombay Stock Exchange intervened in the matter and brought down the “Unbadla” rate to Rs. 2 with a stipulation that the Bear Cartel has to give the delivery of shares within few days. The Bear Cartel brought shares of Reliance from the market at higher price levels and it was also realized that Dhirubhai Ambani himself supplied those shares to the Bear Cartel and earned a healthy profit out of The Bear Cartel’s adventure After this incident many questions were raised by his detractors and the press. Not many people were able to understand as to how a yarn trader till a few years ago was able to get in so much of cash flow during the crisis. The answer to this was provided by then finance minster Pranab Mukherjee ] in the parliament. He informed the house that Non-Resident Indian had invested upto Rs. 220 Million in Reliance during 1982-83. These investments were routed through many companies like Crocodile, Lota and Fiasco. These companies were primarily registered in Isle of Man . The interesting factor was all the promoters or owners of these companies had a common surname Shah . An investigation by the Reserve Bank of India in the incident did not find any unethical or illegal acts or transactions committed by Reliance or its promoters.

(6) Diversification Over time his business has diversified into a core specialisation in petrochemicals with additional interests in telecommunications , information technology , energy , power , retail , textiles , infrastructure services, capital markets , and logistics . The company as a whole was described by the BBC as “a business empire with an estimated annual turnover of $12bn, and an 85,000-strong workforce”.

(7) Criticism Despite his almost Midas Touch, Ambani has known to have flexible values and an unethical streak running through him. His biographer himself has cited some instances of his unethical behavior when he was just an ordinary employee at a petrol pump in Dubai. He has also been known to have links with the V P Singh government and later the BJP government. He has been accused of having manipulated government policies to suit his own need, and has been known to be a king-maker in government elections. Although most media sources tend to speak out about business-politics nexus, the Ambani house has always enjoyed more protection and shelter from the media storms that sweep across the country.

(8) Unauthorized Biography Hamish McDonald, who was the Delhi bureau chief for the Far Eastern Economic Review for several years, published an unauthorised biography of Ambani in 1998 in which both his achievements and shortcomings were reported, but the Ambanis threatened legal action if the book was published in India.

(9) Death Dhirubhai Ambani was admitted to the Breach Candy Hospital in Mumbai on June 24 , 2002 due to a major “brain stroke” suffered by him. This was the second stroke, the first one had occurred in the year February 1986 and had kept his right hand paralyzed. He was in a state of coma for more than week. A battery of highly efficient doctors were unable to save his life. He breathed his last on July 6 , 2002 , at around 11:50 P.M.(Indian Standard Time). His funeral procession was not only attended by business people, politicians and celebrities but also by thousands of ordinary people. His elder son Mukesh Ambani performed the last rites as per the Hindu traditions. He was cremated at the Chandanwadi Crematorium in Mumbai at around 4:30 PM (Indian Standard Time) on July 7 , 2002 . He is survived by Kokilaben Ambani, his wife, two sons, Mukesh Ambani and Anil Ambani , and two daughters, Nina Kothari and Deepti Salgaocar .

(10) Film A film inspired by the life of Dhirubhai is set to release in January 2007. The Hindi Film Guru , directed by Mani Ratnam and music by A.R.Rahman will show the struggle of a man who strives to make his mark in life. The movie stars Abhishek Bachchan and Aishwarya Rai in leading roles

(11) Awards and Recognitions November 2000 - Conferred ‘Man of the Century’ award by Chemtech Foundation and Chemical Engineering World in recognition of his outstanding contribution to the growth and development of the chemical industry in India 2000 , 1998 and 1996 - Featured among ‘Power 50 - the most powerful people in Asia by Asiaweek magazine. June 1998 - Dean’s Medal by The Wharton School, University of Pennsylvania , for setting an outstanding example of leadership. August 2001 - The Economic Times Award for Corporate Excellence for Lifetime Achievement Dhirubhai Ambani was named the Man of 20th Century by the Federation of Indian Chambers of Commerce and Industry (FICCI). A poll conducted by The Times of India in 2000 voted him “Greatest Creator of Wealth In The Century”.

(12) Famous Quotes From beginning Dhirubhai was seen in high-regard. His success in the petro-chemical business and his story of rags to riches made him a cult figure in the minds of Indian people. As a quality of business leader he was also a motivator. He gave very less of public speeches but the words he has spoken are still remembered for their value. “Growth has no limit at Reliance. I keep revising my vision. Only when you dream it you can do it.” “Think big, think fast, think ahead. Ideas are no one’s monopoly” “Our dreams have to be bigger. Our ambitions higher. Our commitment deeper. And our efforts greater. This is my dream for Reliance and for India.” “You do not require an invitation to make profits.” “If you work with determination and with perfection, success will follow.” “Pursue your goals even in the face of difficulties, and convert adversities into opportunities.” “Give the youth a proper environment. Motivate them. Extend them the support they need. Each one of them has infinite source of energy. They will deliver.” “Between my past, the present and the future, there is one common factor: Relationship and Trust. This is the foundation of our growth” “We bet on people.” “Meeting the deadlines is not good enough, beating the deadlines is my expectation.” “Don’t give up, courage is my conviction.”

”Think big, think fast, think ahead , ideas are no one’s monopoly”

“Our dream have to be bigger. Our ambitions higher. Our commitments depper. And our efforts greater. This is my dream for Reliance an for India.”

Growth through Vision

“Growth has no limit at Reliance. I keep revising my vision.
Only when you can dream it, you can do it.”

“Between my past, the present and the future, there is one common factor: Relationship and Trust. This is the foundation of our growth.”