Mukesh Ambani – Like Father, Like Son

It may have been more than half a decade since the man behind India’s largest private sector company, Dhirubhai Ambani, had passed away; however, the legacy built by him has been carried on through Reliance Industries and his elder son Mukesh Ambani. Mukesh Ambani has not only taken over the reigns and responsibilities of Reliance Industries Limited but has also been quintessential in making the company a global entity. While Dhirubhai Ambani has been referred to as the most enterprising Indian entrepreneur, Mukesh Ambani has been ranked as one of the world’s most respected business leaders and conferred various awards for his leadership skills.

Dhirubhai Ambani began his entrepreneurship journey at the age of 16 when he moved to Yemen, while Mukesh Ambani decided to join his father’s business at the age of 24. Dhirubhai Ambani’s single minded determination and vision took Reliance from a regular textile business to the conglomerate it is today. He is also credited of having shaped India’s equity culture by introducing innovative instruments like the convertible debentures to the then financial institution dominated market.

Mukesh Ambani too has made contributions that have not only helped shaped the future of Reliance Industries, but also helped shape the future of the energy sector in India. Following his father’s footsteps of “dare to dream and learn to excel”, Mukesh Ambani was the brain behind Reliance’s key strategy of backward integration. This key strategy helped Reliance Industries foray from textiles into polyester fibres and further petrochemicals. Following Mukesh Ambani’s backward integration strategy, Reliance also ventured into the production of biopharmaceuticals with Reliance Life Sciences after identifying bio-fuels as an alternative energy source.

Mukesh Ambani can also be credited of being the brain behind the world’s largest grassroots petroleum refinery at Jamnagar as well as leading Reliance Industries in the retail sector with Reliance Retail. While Dhirubhai Ambani was the first Indian to be awarded the Dean’s medal by the Wharton School, Mukesh Ambani too has been bestowed by a Dean’s medal by the University of Pennsylvania for his visionary leadership in the application of engineering and technological advancements for the betterment of mankind.

While Dhirubhai Ambani was voted as the “Greatest Creator of Wealth in the Centuries” in 2000, Mukesh Ambani ranked fifth amongst the top performing CEOs in the world according to the Harvard Business review conducted for January-February 2010. While Dhirubhai Ambani won the Economic Times Lifetime Achievement Award for corporate excellence in 2001, Mukesh Ambani was honored by the “ET Business Leader of the Year Award” by the Economic Times in the year 2006. Also while Dhirubhai Ambani was named the “Man of the 20th Century” by the Federation of Indian Chambers of Commerce and Industry (FICCI), Mukesh Ambani has been ranked number eight on the Forbes’ list of the “World’s Most Powerful Billionaires”. The dream that was started by Dhirubhai Ambani with an initial investment of Rs.50,000 has been taken forth by Mukesh Ambani to make him the wealthiest person in India. Therefore, the adage “Like father, like son” is probably the most appropriate description for the father-son duo of Reliance Industries.



Tags: , , ,

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: