RELIANCE INDUSTRIES - Too Big for India?
I refer to the article "Too Big for India" (Economist dated August 13).
I am 83 years old and have keenly watched this company from the time it was conceived to the present holding place of pride among the Fortune 200 companies of the world.
I cannot agree with the view that Reliance Industries is too big for India.
Dhirubhai Ambani was a giant in assessing situations and people,in India. The financial, business strengths and the clout he achieved was more due to his excellent understanding of India and its reqirements from time to time, his hard and pointed work strategy(not ehics, I agree) and the tremendous support from the investing pulic when he made a huge IPO of the Company shares, some years ago.I bought the shares then, and am very satisfied with the returns.Nothing has happened to warrant a change in the investor perception of the company.
The author has totally ignored the vast potential for growth in India for the whole of the 21st century! The corrupt Indian politician will soon become a museum-piece during the next ten years or so. They will be taken over by the new brand of young, dedicated and well-talented middle class, men and women. Evidence of this trend across the country is seen increasingly now. They will eliminate corruption and several other negatives soon, and we will have an India of which the world will be proud.
Dhirubhai was no fool to die without laying down plans of succession in the huge industrial empire that he built. It is to be noted that when they did quarrel, the division was peaceful and decent. Only the bolts and nuts had to be screwed up, and this was done well by interlocutors. And, in this largest ever de-merger, the shareholders greatly benefitted. And, Mukesh is not the one who would leave a vaccum, should he die like you mentioned. The organisation will contue to roar even louder than now!
K.V.Narayanmurti, Senior Advocate & Corporate Law Advisor
Visalakshy, New Kalpathy, Palghat, Kerala, INDIA
T: +91 491 2576652
14th April 2012