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Mukesh Ambani -
Reliance
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I was very focussed on building various competencies in Reliance and we were not ready to do two things at the same time. It was a big risk for us to get into IT, especially because it was hugely effort-intensive. In my language, I said we have too much soap on our body and we need to take a bath in the chemicals business.
Mukesh Ambani
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So, these were the four components of my upbringing — the academic stuff where I was left to myself, Mahendrabhai, my father's passion for creating Reliance and the last piece was his deep links with the family.
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We got into telecom in the '90s by bidding for cellular licences. But I felt that the real value is in the convergence of information and communication; pure communication will not deliver a sustainable value; that is why we called ourselves infocomm. It was learning a whole new domain. We brought in experts from the outside but we essentially did it with proven Reliance people.
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In the '80s, when I came in, the ground rules were made clear to me. 'Build this business from scratch, without taking anyone from Reliance.' That forced you to be very disciplined. I looked around and figured out in three months that this industry runs on heroes.
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Reliance will get listed on wall street because we want to benchmark ourselves with the top 100 companies of the world.
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Mahatma Gandhi's dream of self-reliance can be attained by making use of Internet and technology.
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The performance of Reliance shows an amazing trend when mapped against time. The inflection point was 1991. We grew exponentially, eventually becoming India's biggest private enterprise, on the basis of freedom to compete against the best in the world.
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Even when I was doing chemical engineering, I was working almost full time for Reliance. I finished college at 2.30 pm and went straight to the office. I remember, we were raided and my father was in the US.
Mukesh Ambani
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Then, we stumbled on human and plant biotech. We were fortunate to have some good people and decided that Reliance can build this business over 5-10 years without any great revenue pressures. In the mainstream business, there was telecom or what I call infocomm.
Mukesh Ambani
Quote of the day
Nobody ever did anything very foolish except from some strong principle.
William Lamb, 2nd Viscount Melbourne
Mukesh Ambani
Creative Commons
Born:
April 19, 1957
(age 67)
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