Free 500 words essay on Dhirubhai Ambani – life and achievements for school and college students.
Dhirajlal Hirachand Ambani can be accurately called as India’s biggest tycoon who created the massive Reliance Industries. A quintessentially rags to riches story is what defines the rise of Ambani group which contemporarily is not just the richest family of India but also an extremely important pivot of Indian economy.
Hailing from a remote village in Gujarat with no prior patronage or assets, Dhirubhai Ambani created an empire that individuals can only dream of. His first job was in Aden as a clerk at A.Besse & Co., a large transcontinental trading firm. Simultaneously, he worked for a Gujarati firm where he learnt accounting, book keeping, and preparing business documents. Also, he was quick to learn about banking and insurance. His knack of trade got him into speculative trading. When promoted to a oil filling station, there began the genesis of his idea to build an oil refinery. After returning from Yemen due to loss of opportunities, he settled as a spice trader under the name Reliance Commercial Corporations. The exports were made to the Gulf Emirates, with a sharp focus on rich quality even at the face of low profits. Dhirubhai soon shifted to yarn industry and aimed to produce the best quality nylon in the quickest way, and soon his Naroda factory did start producing them. In no time, his brand ‘Vimal’ became the best quality in the market leading to increased sales and expanded profits.
Reliance Industries was founded by him in 1966 but made public in the year 1977. He was known to be a risk taker and he believed in building inventories to build profit. He had ended the partnership with Champaklal Damani and began a full-fledged entity of his own. By 1972 itself, Reliance Industries received a nod of excellence from the prestigious World Bank. By 1980s, as his sons Mukesh Ambani and Anil Ambani joined business, Reliance Industries had already diversified from textiles to petrochemicals, petroleum refining, upstream oil and gas exploration and production. Presently, Reliance is into almost every business venture ranging from telecommunications to IT, energy to infrastructure services, capital markets to logistics.
Dhirubhai Ambani was an astute businessman, a mastermind who tapped into not just the best resources of his nation, but also, human capital. He harnessed the talent and potential of some of the brightest minds of India. Reliance was the first Indian industry to be a part of Fortune 500 companies and presently his son Mukesh Ambani is the richest man of India and among the top ten in the world. Dhirubhai has been conferred several honors for his incredible contribution. They are Dean’s Medal, Lifetime Achievement Award for Corporate Excellence and Man of the Century awards. The Federation of Indian Chambers of Commerce (FICCI) had named him as the ‘Man of 20th century’. Dhirubhai Ambani died in 2002 of stroke. He was posthumously awarded Padma Vibhushan. He still is considered as one of the greatest business minds of India who has built a huge fortune completely on his own.