History Of Dhirubhai Ambani Reliance

History Of Dhirubhai Ambani Reliance

Reliance industries founded by champaklal damani and Dhirubhai ambani in 1973 as a polyester firm. Reliance also entered into financial services, petroleum refining, power sector later. In it's early years reliance was one of the world largest producer of polyster.

In 1997 reliance was the first corporation from Asia to issue bonds in U.S. In early 1980s Ambani was joined by the sons Mukesh and anil, later they were sent to U.S for further Education which might help them in running the company. Near 1980's Reliance industries product were in demand internationally due to their good Quality. In the same period Reliance Industries also Planned to invest around Rs. 5000 crores in building two world-scale plants in the future in Gujarat.

Reliance's entry into petroleum sector came in 1997, when Indian oil was liberalized due to lack of capital then reliance took the advantage of that situation and after that government also agreed to grant the right to the company of importing petroleum directly. Dhirubhai Ambani left the world in 2002 after which both the brothers Mukesh and anil took over the day to day functioning and working of the company and in the same year petroleum branch of reliance was merged with reliance industries which made them look as a huge company in the country , till that time they had also started taking effective decisions for targeting the fast growing telecommunication sector, as that was there next aim.

By the acquisition of Trevirai, at that time company was the world's leading polyester manufacturer in 2004-05 with production levels upto 25 million meters per year. The company's textile range includes many fabrics which were in demand like acrylics and garments.

Rising tension in late 2005 between both the brothers on the company division among them, next year after understanding the situation mothers of both the brothers proposed a break up of reliance industries into two roughly equally important parts. Mukesh Ambani got the things like petroleum, petrochemical, and textiles operations and on the other hand Anil Ambani got the rest part of the company telecommunications, energy, capital finance, and other operations which he combined into a new company later.

Skipping right towards this year 2019

Today Anil Ambani is under huge loan amount of almost Rs10,000 crore and he now also has to sell the assets of his companies and the other brother mukesh ambani is still the india's richest person with net worth of over 54 billion dollars with his humongous Company Reliance Jio Infocomm Limited which you already know about if you are from India.

Well It's seem so much interesting to predict both the brothers future.

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