Reliance

In: Business and Management

Submitted By dolovan50
Words 916
Pages 4
When people think of the company name Reliance they think success, a story as unique as its founder Dhirubhai H. Ambani, who built the Reliance Empire from an initial capital of just $300. It is a story of dreams becoming reality, of an Indian enterprise transforming itself into a global corporation.
Today, Reliance Industries is led by the eldest son of Dhirubhai H. Ambani, his name is Mukesh D. Ambani. He is the Chairman and Managing Director in India. The company covers the entire energy value chain, starting with oil and gas and continuing on through refining, petrochemicals, chemical and textiles.

The birth of reliance all start with a man name Dhirajlal Hirachand Ambani, one of the leading Indian businessmen, was born on December 28, 1932 in Chorwad, Gujarat. He is popularly known by Dhirubhai Ambani, he was the heads The Reliance Industries, India's largest private enterprise. Dhirubhai started off as a small time worker with Arab merchants in the 1950s and moved to Mumbai in 1958 to start his own business in spices. After making modest profits, he saw the opportunity to move in the textiles business and opened his mill near Ahmedabad. Dhirubhai founded Reliance Industries in 1958. After that it was a story of expansions and successes.
He started working as a clerk for an oil company that was the sole distributor of Shell products there. While in Aden, he realized that a discrepancy between the rial-sterling exchange rate and the intrinsic value of the silver content in Aden’s coinage afforded an excellent opportunity to make money. This arbitrage generated him some $3,000 for the modest trading enterprise that Ambani set up when he returned to Bombay in 1958. The trading house Reliance Commercial Corporation began by importing polyester yarn and exporting spices.
Finding an opportunity in the textiles business, he opened his first textile mill in…...

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