Early life
Hirachand Ambani was a village school teacher with less income given to
him. Hirachand and Jamnaben had two daughters - Trilochanaben and
Jasuben and three sons - Ramnikbhai, Dhirubhai and Natubhai. Dhirubhai
was the second son.Dhirubhai was precocious and highly intelligent. He was also highly
impatient of the oppressive grinding mill of the school classroom. He
chose work which used his physical ability to the maximum rather than
cramming school lessons. When Jamnaben once asked Dhirubhai and
Ramnikbhai to help his father by earning money, he angrily replied, "Why
do you keep screaming for money? I will make heaps of money one day".
On weekends, he began setting up onion/potato fries stall at village
fairs and made extra money which he gave his mother. e also used to sell milk powder to make his income.
Just after Dhirubhai was through his annual matriculation examination
and even before the result was out, Hirachandbhai called him home to
Chorwad. Hirachandbhai had been unwell for quite some time and had grown
extremely weak and frail. "Dhiru, do you know why I have called you
here?"Hirachandbhai asked his son the very night he reached home. "Well, I'll tell you. You know I have been unwell for past several months. I cannot work any more. I know you want to study further but I can't afford that any more. I need you to earn for the family. I need your money. The family needs it. You must work now. Ramnikbhai has arranged a job for you in Aden. You go there."
Dhirubhai had really wanted to study for a bachelor's degree, but his ambition melted when he looked into the anxious eyes of his sick father. "I'll do as you say" he said and the very next morning he left for Rajkot to get his passport. Those days Indians did not need a visa for entering Aden but there were rumours around that the no visa regime was about to change any day. So he needed to hurry up before the visa rules changed. In a few days he was in Bombay to board the ship to Aden. It was on board the ship that's Dhirubhai learnt from Gujarati newspaper that he had passed his matriculation examination in second division.
On reaching Aden, Dhirubhai joined office on the very day of his arrival. It was a clerk's job with the A. Besse & Co., named after its French founder Antonin Besse. Those days Aden was the second busiest trading and oil bunkering port in the world after London handling over 6,300 ships and 1,500 dhows a year.
And, there in Aden, A. Besse & Co. was the largest transcontinental trading firm east of Suez. It was engaged in almost every branch of trading business-cargo booking, handling, shipping, forwarding, and wholesale merchandising. Besse acted as trading agents for a large number of European, American, African and Asian companies and dealt with all sorts of goods ranging from sugar, spices, food grains and textiles to office stationary, tools, machinery and petroleum products. Dhirubhai was first sent to the commodities trading section of the firm. Later, he was transferred to the section that handled petroleum products for the oil giant Shell.
"I learnt business at the Besse which was then the best trading firm this side of the Suez," he used to tell friends in later years. He was quick on the uptake. He learnt the ways of commodity trading, high seas purchase and sales, marketing and distribution, currency trading, and money management. During lunch break he roamed the souks and bazaars of Aden where traders from numerous different continents and countries bought and sold goods worth millions of pound sterling, the then global currency, during the day. He met traders from all parts of Europe, Africa, India, Japan and China. Aden was the biggest trading port of the times, a trading port where goods landed from all parts of the world and were dispatched to the farthest corners of different continents. Speculation in manufactured goods and commodities was rife all over the Aden bazaars
Ten years later, Dhirubhai Ambani returned to India and started "Majin" in partnership with Champaklal Damani, his second cousin, who used to be with him in Aden, Yemen. Majin was to import polyester yarn and export spices to Yemen.The first office of the Reliance Commercial Corporation was set up at the Narsinatha Street in Masjid Bunder. It was 350 sq ft. room with a telephone, one table and three chairs. Initially, they had two assistants to help them with their business. During this period, Dhirubhai and his family used to stay in a one bedroom apartment at the Jaihind Estate in Bhuleshwar, Mumbai. In 1965, Champaklal Damani and Dhirubhai Ambani ended their partnership and Dhirubhai started on his own. It is believed that both had different temperaments and a different take on how to conduct business. While Mr. Damani was a cautious trader and did not believe in building yarn inventories, Dhirubhai was a known risk taker and he believed in building inventories, anticipating a price rise, and making profits.In 1968, he moved to an upmarket apartment at Altamount Road in South Mumbai. Ambani's net worth was estimated at about Rs.10 lakh by late 1970s.Sensing a good opportunity in the textile business, Dhirubhai Ambani along with Amit Mehra, a Delhi based Chartered Accountant and Company Secretary residing in Ashok Vihar, Delhi started the first textile mill at Naroda, in Ahmedabad in the year 1966. Textiles were manufactured using polyester fibre yarn.Dhirubhai started the brand "Vimal", which was named after his elder brother Ramaniklal Ambani's son, Vimal Ambani. Extensive marketing of the brand "Vimal" in the interiors of India made it a household name. Franchise retail outlets were started and they used to sell "only Vimal" brand of textiles. In the year 1975, a Technical team from the World Bank visited the Reliance Textiles' Manufacturing unit. This unit has the rare distinction of being certified as "excellent even by developed country standards" during that period. Amit Mehra had played a pivotal role in helping and supporting Dhirubhai in this success.
Death
Dhirubhai Ambani was admitted to the Breach Candy Hospital in Mumbai on June 24, 2002 after he suffered a major stroke. This was his second stroke. The first one had occurred in February, 1986 and had kept his right hand paralyzed. He was, latterly, in a state of coma for more than a week. A number of doctors were used. He died on July 6, 2002, at around 11:50 p.m.His funeral procession was not only attended by business people, politicians and celebrities but also by thousands of ordinary people. His elder son, Mukesh Ambani, performed the last rites as per Hindu traditions. He was cremated at the Chandanwadi Crematorium in Mumbai at around 4:30 PM (Indian Standard Time) on July 7, 2002.
He is survived by Kokilaben Ambani, his wife, two sons, Mukesh Ambani and Anil Ambani, and two daughters, Nina Kothari and Deepti Salgaonkar. Dhirubhai Ambani started his long journey in Mumbai from the Mulji-Jetha Textile Market, where he started as a small-trader. As a mark of respect to this great businessman, The Mumbai Textile Merchants' decided to keep the market closed on July 8, 2002. At the time of Dhirubhai's death, Reliance Group had a gross turnover of Rs. 75,000 Crore or USD $ 15 Billion. In 1976-77, the Reliance group had an annual turnover of Rs 70 crore and it is to be remembered that Dhirubhai had started the business with just Rs.1,50,000 (US$3500)
- Dhirubhai Ambani Biography profile revels that he was the son of Hirachand Gordhandhas Ambani who was a school teacher in Gujarat. With a modest income.
- Dhirubhai had two sisters and two brothers.
- The biography of Dhirubhai Ambani divulges that his introduction to entrepreneurship was by selling bhajias to pilgrims in Mount Girnar.
- He passed his matriculation exams at the age of sixteen. Then he travelled to Aden in Yemen. He worked as a gas station attendant and then as a clerk in oil company. He opened a textile trading company.
- Dhirubhai Ambani Biography profile features that after ten of living in Aden he came back to India and started a Majin Corporation with Champaklal Damani as a partner. Champaklal had accompanied him to Yemen. This partnership ended in 1965.
Achievements
- Dhirubhai Ambani Biography profile reveals that he in 1966 he opened his first textile mill at Naroda in Ahmednagar. He started the brand Vimal. A World Bank team visited the manufacturing unit and highly appreciated the level of excellence. By 1980 his fortune crossed the 1 billion mark.
- In 1982 Ambani began to introduce diversification in his business thorough chemicals, petrochemicals, plastic, power etc.
- According to the Dhirubhai Ambani Biography profile he was criticised for bending government rules to suit his own needs and thus acting unethically on various grounds. Nevertheless his entrepreneurship skills were highly praised.
The biography of Dbhirubhai Ambani says that he died on June 24 2002. He is survived by his wife Kokilaben Ambani and his two sons Mukesh and Anil and two daughters Nina Kothari and Deepti Salgaonkar. Reliance Industries ahs also entered the Telecom, Insurance and Internet Businesses sector. The biography of Dhirubhai Ambani shows that his saga embarked upon a new era following which several entrepreneurs have come up and received global recognition.
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Rudrashakti Enterprises.
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