Archive for April, 2014

Nita Ambani’s Reliance Foundation set to take Football to the next Level with ISL

April 30, 2014

Reliance Foundation Chairman Nita Ambani has never shied away from helping the needy. The Reliance Industries Limited (RIL) supported organization was one of the first organizations on ground when floods struck Uttarakhand in 2013 and has constantly been a bastion of relief to many underprivileged children in Mumbai.

With Reliance Foundation’s involvement in the IMG-Reliance Indian Super League (ISL), Mrs. Ambani has taken on a different role. She’s no stranger to the world of sport though, having seen the rise of IPL team Mumbai Indians. On the cusp of the ISL, Nita Ambani is enthusiastic about the impact the Indian Super League could have on football and sports in general across the nation.Football is surely going to get some airtime in an already growing market on account of the commitment of the stakeholders –IMG Worldwide, Reliance Industries, Star India and the All India Football Federation (AIFF).

Speaking at the launch of the ISL, Mrs. Ambani commented, “It is with great pride that I welcome the eight League Partners to the Indian Super League. We want to unlock the unbound aspirational energy of our youth through grassroots and community development programs. Together, we will strive to build a vibrant ecosystem that will provide impetus to football in India. As mentor of the league, I commit myself to the development of football as a major sport for the youth of India.”

Football’s Growth in India:

The final announcement of 8 cities where the matches will be hosted and crucially, of the eight partners who will oversee the growth and expansion of the league is the first major step towards setting the pace for the realization of a dream that would see India finally embrace football. “Today’s announcement is the culmination of several years of hard work and strategic planning,” said Michael Dolan, Chairman and Chief Executive of IMG and Chairman of IMG Reliance.

The IMG Chairman also expressed his happiness with the enthusiastic response the proposed league is getting from the mainstream media as well as the fans on the streets. At the grassroots level, ISL presents a chance for many talented young footballers of India to play and learn from their heroes such as Michael Owen, Thierry Henry, Hernan Crespo, etc. It’s no doubt that the league signals the beginning of a new era in the development of football in India and, in the future, will be the source of great pride for the people of India. The Indian Super League desires to position itself among the best footballing competitions across the world.

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McKinsey’s Newest Hire – Isha Ambani. Stepping Stone for Bigger Role at RIL?

April 18, 2014

Mukesh and Nita Ambani’s daughter, Isha Ambani has joined a North American Office of global consulting firm McKinsey & Co as a Consultant. Isha is an alumnus of Yale University where she majored in South Asian Studies and Psychology.

Many expect Isha’s stint at McKinsey to be a stepping stone for a bigger role at RIL. Sources close to the Ambani family say that Isha has a keen interest in the environment aspect of RIL. Her brother, Akash Ambani, another Ivy League Graduate (Brown University) is currently working on Mukesh Ambani’s ambitious telecom project, Reliance Jio. At the same time, the youngest son of Nita & Mukesh Ambani is studying at an Ivy League University too.

Reliance’s Growth

The past few years have seen Reliance Industries Limited (RIL) and Mukesh Ambani aggressively investing into businesses that are customer focused. These include RIL’s retail Chains which have been doing phenomenally well. The retail chains are focused on food, groceries, apparel and footwear, lifestyle and home improvement products, electronic goods, etc. Now, RIL is all set to launch Reliance Jio marking the return of Mukesh Ambani to the mobile industry after nearly a decade.

Consulting – A Great Ground for Learning

Consulting is one of the best industries for fresh college graduates or even MBA’s with experience because it offers some unique challenges and compels people to solve problems in a unique manner. It also offers exposure to multiple functions such as operations, finance, strategy, etc. No surprise then that some scions of India’s and indeed the world’s large business houses have a stint at a global strategy consultant’s office before continuing on in their family-built business.

NandiniPiramal, daughter of Swati and Ajay Piramal, worked with McKinsey as a business analyst before joining her family concern in 2006. Krishna Mahesh, an Harvard Business School alumnus also spent time with McKinsey before joining his family business TVS as did SubbiahVellayan and LavanyaNalli. RishadPremji, another HBS alumnus worked in the London Office of Bain & Co., part of the so-called MBB cluster (Which includes, McKinsey, Bain and Boston Consulting Group).

It is proven that children of business families learn more if they work outside family companies in their initial stages, says P Thiruvengadam, senior director, Deloitte India. “Many promoters tell us that their children pick up the dynamics of how an organisation works far better in external companies.

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Reliance’s Polyester Plant At Silvassa Starts Production

April 15, 2014

Mumbai, 15th April 2014: Reliance Industries Limited (RIL) commissioned its new Polyester Filament Yarn (PFY) facility at Silvassa.

The entire production from this facility has been successfully placed in the domestic and international markets.

With the commissioning of this ultra-modern Polyester Filament Yarn Facility, Reliance’s total PFY capacity, including the Malaysian facilities, is in excess of 1.5 MMTPA.

This expansion further strengthens RIL’s position as the world’s largest producer of Polyester Fibre and Yarn.

The new PFY plant at Silvassa is the most automated and one of the most environment- friendly plants globally. It is co-located with RIL’s existing texturizing facility at Silvassa eliminating the packaging and logistics costs. This coupled with integration with PTA will make the Silvassa facility amongst the lowest cost Polyester Filament Yarn producing sites globally.

The commissioning of this facility marks the beginning of the mega petrochemical expansion of Reliance Industries Ltd.

About RIL

Reliance Industries Limited (RIL) is India’s largest private sector company on all major financial parameters with a turnover of INR 371,119 crore (US$ 68.4 billion), cash profit of INR 30,505 crore (US$ 5.6 billion) and net profit of INR 21,003 crore (US$ 3.9 billion) as of March 31, 2013.

RIL is the first private sector company from India to feature in Fortune’s Global 500 list of ‘World’s Largest Corporations’ and currently ranks 107th in terms of revenues and 128th in terms of profits in 2013. RIL ranks 68th in the Financial Times’ FT Global 500 list of the world’s largest companies. RIL is ranked amongst the ’50 Most Innovative Companies – 2010′ in the World in a survey conducted by the US financial publication – Business Week in collaboration with the Boston Consulting Group (BCG). In 2010, BCG also ranked RIL as the second highest ‘Sustainable Value Creators’ for creating the most shareholder value over the decade in the world.

Key Contact:

Tushar Pania

Reliance Industries Ltd.

+91 9820088536

tushar.pania@ril.com

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Sachin Tendulkar Named as Mumbai Indians’ Icon

April 10, 2014

Mumbai Indians, defending champions of the Indian Premier League (IPL) have announced that legendary batsman Sachin Tendulkar will be the team’s ‘icon.’

Tendulkar’s entire career in the IPL was spent with the Mumbai-based franchise that was bought by Mukesh Ambani some years back. Nita Ambani, co-owner of the Mumbai Indian’s commented, “Sachin has been an integral part of Mumbai Indians and a source of inspiration for the team ever since the inception. It was a fitting finale to Sachin last season, when we dedicated the IPL as well as CLT20 trophies as tribute to the legend.”

Tendulkar spent 25 years with the Indian Cricket Team breaking pretty much every record in the book. He is widely regarded as one of, if not the greatest batsmen in cricket history. He retired from cricket after playing a record 200th testin his home ground, the Wankhede Stadium in Mumbai. Being the ‘icon’ of the IPL team, Mrs. Ambani expects the up and coming players signed by the franchise to benefit immensely from the little maestro’s wisdom. “We are very happy to recognize him as the Mumbai Indians Icon. I am sure the youngsters in the team will be delighted to have him around for guidance, and so would be the Mumbai Indians fans,” said Nita Ambani.

Tendulkar’s legendary status elevated him to a pedestal hitherto unchartered by lest a sportsman, but even a politician or a revolutionary figure. For his service to India’s favorite game, the Government of India honoured him with the highest civilian honour, the Bharat Ratna after his retirement. As a member of the Upper House in the Parliament, the Rajya Sabha since June 2012, the Mumbai cricketer has pledged to garner the attention of the politicos to the plight of sportsmen and women.

Tendulkar confirmed during last season’s IPL that he would not play for the franchise any longer. Fittingly, the Mumbai Indians won the tournament for the first time that season.

Commenting on his first role in the dug-out, Tendulkar remains optimistic and is eager to work with the support staff and the young talent waiting for a chance to shine. “I have been a part of the Mumbai Indians team since its inception and am delighted to continue my association. This season with Mumbai Indians will be a different experience for me and I look forward to closely interacting with the experienced support staff and sharing my learnings with the exciting youngsters in the team,” Tendulkar said.

Lastly, Tendulkar, also known for his affable demeanor and humility has also been the face of the ‘Education for All’ initiative. Led by Reliance Foundation Chairperson Nita Ambani, it stands for equal and rightful education opportunities for underprivileged children and has been able to meaningfully impact over 30,000 children through various NGOs.

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Mukesh Ambani’s Reliance Jio to transform TV in India

April 2, 2014

Reliance Jio Infocomm has, for a long time being touted as the next big thing in the mobile and telecom sector in India. The Mukesh Ambani-owned mobile company has acquired a pan-India 4G license in October 2013 and is busily preparing forrollout of its high-speed, multi-media digital services spanning education, healthcare, entertainment, financial and cloud services among others. The first of these services over 4G is scheduled for market launch in September, this year.

The Reliance Industries Owned Company has showcased many new offering at IIT Bombay’s (IIT-B) Techfest and one among them was TV on mobile. Video on demand and live TV in High Definition are touted to be one of the biggest offering from RJIL. Also, on demo was catch-up TV that eliminates the need to record favorite shows as the service allows you to view seven days of stored content for each of its over 100 channels, at your leisure.

RJIL’s Market Presence:

Apart from the strategic alliance that’s been finalized with Reliance Communications, the other key things in place include key agreements with other technology partners, service providers, infrastructure providers, application partners, device manufacturers and other strategic partners. The latest agreement that RJIL is secured is a Master Services Agreement to use Viom Networks’ pan India passive telecom infrastructure that has a footprint of over 42,000 telecom towers. “This agreement is in line with our mission of a pan India launch spanning next-generation voice and data services and leveraging existing telecom infrastructure,” said Sanjay Mashruwala, Managing Director, RJio in a statement after announcing the agreement in March 2014.

Perhaps the biggest news that came out from the RJIL camp was the agreement signed with Bharti Airtel in which the companies agreed to share infrastructure created by both parties. This includes optic fibre network – inter and intra city, submarine cable networks, towers and Internet broadband services as well as other such opportunities identified in the future. The arrangement could, in future, be extended to roaming on 2G, 3G and 4G, and any other mutually benefiting areas relating to telecommunication.

On an international front, Reliance Jio is a part of the Bay of Bengal gateway cable system that connects Middle East, South Asia, Europe and South-East Asia.

4G Devices:

RJIL can grow exponentially only when low cost 4G devices hit the streets. And that is something that still needs to fall in place for RJIL. Reportedly, RJIL has been talking to Korean major Samsung and Chinese companies ZTE and Huawei to explore providing compatible handsets to be bundled with the service at affordable India-market price points. Many analysts believe that devices priced along the 6k mark would pave the way for consumers to switch to RJIL and embrace a digital revolution.

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