With a market capitalization of about USD 206 billion, Reliance Industries Limited (RIL) is the largest multinational conglomerate company in India. Starting from the textile business, the company currently has eight subsidiaries that deal in the business of energy, petrochemicals, natural gas, retail, telecommunications, and mass media. Mukesh Dhirubhai Ambani, the chairman and managing director of the company, has truly maintained the legacy of his father, Dhirubhai Ambani.
Dhirubhai Ambani’s death caused the distribution of Reliance Industries and Anil Ambani got the business of Reliance Infocomm, Reliance Energy, and Reliance Capital. But due to the outdated business plans, the Anil Ambani-led conglomerate did not grow much and from USD 42 billion in 2008, the net worth of Anil Ambani came down to zero in 2021.
The seed of distribution of RIL
Recently, Mukesh Ambani announced the appointment of his son Akash Ambani as the Chairman of the Board of Directors of Reliance Jio Infocomm Limited, which holds the digital & telecom arm business of RIL. Although Mukesh Ambani will continue to be the Chairman of Jio Platforms Ltd but the decision has sown the seeds of succession plans for RIL.
With annual revenue of Rs 7350 crores, Reliance Jio Infocomm Limited is the largest mobile network company founded in 2019. Coinciding with the government’s plan to revolutionize India with a digital presence, Jio’s launch disrupted the Indian telecom market.
Twins Isha and Akash Ambani were instrumental in running RIL’s telecom market in India. They brought the young mind and led the RIL in the new age of business. They realized the future of business and expanded Jio’s capacity on other digital platforms. Jio’s aim is to capture the future of business and establish its monopoly in the sector through adopting new technology.
Read More: Akash Ambani will be heading Reliance Jio now
Isha Ambani is set to be the Chairman of Reliance Retail Venture
Till the marriage of Isha Ambani, both were together writing the growth story of Jio Infocomm. But the decision to appoint Akash Ambani as the Chairman of the Board of Directors of Reliance Jio Infocomm Limited seems that Mukesh Ambani is thinking to transfer its business to his successors in his lifetime.
Akash Ambani’s elevation has also set the tone for the elevation of Isha Ambani. An MBA from Stanford Graduate School of Business, Isha Ambani is equally interested in business management. Before joining the family business she had earlier worked at McKinsey & Company as a business analyst. Reports suggest that currently holding the director post of Reliance Retail Ventures Limited, Isha Ambani is also set to be named as the Chairman of the retail ventures.
Also Read: Meet Anil Ambani: The Rahul Gandhi of the business world
Anil Ambani of the future Reliance
Although the younger brother of the twin, Ananth Ambani, is still to make into RIL’s business. But, Isha and Akash Ambani are ready to take the throne of Dhirubhai Ambani’s business empire.
Akash Ambani has been working on Reliance’s digital policy and has helped the company to expand its digital services business. From the launch of Jio’s affordable phone in 2017 to major acquisitions like Haptik, Embibe, and Radisys, Akash Ambani’s major focus is on the future of business.
Isha Ambani, a professional business analyst, is focusing on the retail expansion of the company. The area of business includes consumer electronics, food, grocery, fashion, jewelry, footwear, and clothing. The future of the retail market is also changing rapidly and her digital expansion of the retail sector is going to revolutionize the customer experience of purchasing. With the increasing purchasing power of the middle class in India, Isha Ambani will also get a sufficient customer base for expansion and lead Reliance’s business to new heights.
Both of them are vouching for the future of business and their huge customer base provides enough potential for growth. Both of them will be leading their respective ventures with an equal market base. But, the time will only speak about their future prospect of business. The real test of their business acumen will start from the day when both will be leading the business on their own. Time will tell who is Mukesh Ambani and who is Anil Ambani of Reliance.
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