Dhirajlal Hirachand Ambani, has been undisputedly India’s most enterprising entrepreneur. No matter what the past records says, no one can deny the fact that he was the best example for Entrepreneurship.
Dhirubhai Ambani, born on 28th Dec, 1932 in a small village called chorward in Gujarat. He was the third of five siblings, three brothers and two sisters. His father was a school teacher who struggled to run his family with one income. To support the family Dhirubhai used to sell Bhajias at village fairs.
After completing his school studies, at the age of 16 he went to Yemen to work as a gas station attendant in oil industry for Rs. 300.
In 1958, he came back to India with Rs 50,000 and started the business of polyester yarn import-export at Masjid Bunder of South Mumbai. It is believed that with an investment of Rs. 15000 he founded the Reliance Commercial Corporation and lived in one bedroom flat with his wife and children for almost a decade until 1968 when he moved to Altamount Road in South Mumbai.
In 1966, Dhirubhai started his own textiles manufacturing unit at at Naroda, in Ahmedabad and launced his first brand “Vimal”. Extensive marketing of the brand “Vimal” in the interiors of India made it a household name.
Back in those days Polyester was in great demand across Asian markets so Dhirubhai believed that by keeping low margins and high volume there would be huge profit and so it happened building a great reputation. His biggest breakthrough in his life came when he convinced large number of small investors from rural gujarat to become the shareholders of Reliance. Reliance industries holds the distinction that it is the only Pvt ltd company whose several meetings were held in stadiums.
In 1982 Ambani began the process of backward integration, setting up a plant to manufacture polyster filament yarn. He then diversified into chemicals, plastics and power. Same year Mumbai stock exchange has to be closed for a 3 business day after face off between Dhirubhai and a bear cartel where he made huge money. The final phase of Reliance diversification occurred in 1990s when the company turned towards Telecommunication.He let his two sons take over the company after his right hand paralyzed due to first major attack. Dhirubhai Ambani died after a major stroke in July 2002. At the time of Dhirubhai’s death, Reliance group had a gross turn over of Rs. 70,000 Crore(US $15 Billion). It is still remembered that Dhirubhai has started his business with just Rs. 15000 in 1966. As on Today, 2018 Reliance industries assets are estimated to be 816,348 crore (US$120 billion).
Dhirubhai Ambani was named the “Man of 20th Century by FICCI.
Reliance was the 1st Indian company for elevating money in Global markets. Reliance furthermore became the 1st Indian company to feature in Forbes 500 list.
Dhirubhai Ambani’s famous quote:
“Our dreams have to be bigger. Our ambitions higher. Our commitment deeper. And our efforts greater. This is my dream for Reliance and for India.”