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->> Details of Stocks |
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Index2 |
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Early life Dhirajlal Hirachand Ambani was born on 28 December 1932 , at Chorwad, Junagadh in the state of Gujarat , India , into a Modh family of very moderate means. He was the third son of a school teacher. When he was 16 years old, he moved to Aden ,Yemen . Initially Dhirubahi worked as a despatch clerk with A. Besse & Co.. Two years later A. Besse & Co. became distributor for Shell products and Dhirubhai was promoted to manage the company’s oil-filling station at the port of Aden. He was married to Kokilaben and had two sons and two daughters.
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Life in Aden In the 1950s the Yemini administration realized that their main unit of currency Rial was in disappearing. After investigating the matter it was realized that all Rials were routed to the Port City of Aden. There a young man in twenties was placing unlimited buy orders of Yemini Rials. During those days the Yemini Rial was a pure silver coin and was much in demand at the London Bullion Exchange. Young Dhirubhai would buy Rial, melt it in pure silver and sell it to bullion traders in London .
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In the later part of his life while talking to reporters it is believed that he
said “The margins were small but it was money for jam. After
three months, it was stopped. But I made a few lakh of rupees. I don’t believe in
not taking opportunities.”
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Reliance Commercial Corporation Ten years later, Dhirubai returned to India and
started a business Reliance Commercial Corporation with a capital of Rs. 15000.00
(US$ 375). The primary business of Reliance Commercial Corporation was import polyester
yarn and export spices. The business was setup in partnership with Chambaklal Damani
, his second cousin who was also there with him in Aden , Yemen . The first office
of Reliance Commercial Corporation was set up at Narsinathan Street at Masjid Bunder
. It was a 350 Sq. Ft. room with a telephone, one table and three chairs. Initially
they had two assistants to help them in their business. In 1965 Chambaklal Damani
and Dhirubhai Ambani ended their partnership and Dhirubhai started on his own. It
is believed that both had different tempermants and a different take on business,
while Mr. Damani was a cautious trader and did not believe in building Yarn inventories,
Dhirubhai was a known risk taker and he considered that buliding inventories with
anticipating a price rise and making some profit is good for growth. During this
period Dhirubahi and his family used to stay in an one bedroom apatment in Jaihind
Estate in Bhuleshwar. In 1968 he moved from the chawl to an upmarket apartment at
Altamount Road in South Mumbai. His first car was Premier Padmini , the Indian version
of Fiat 1100 , later he brought a Mercedez-Benz Car . In 1970s he brought a white
Cadillac Car.Reliance Textiles Sensing good opportunity in the business of textiles,
Dhirubhai started his first textile mill at Naroda , near 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. Externsive marketing of the brand “Vimal” in the interiors of India
made it a household name. Franchise retail outlets were started that used to sell
only “Vimal” brand of textiles. In the year 1975 a Technical team from the World
Bank visited Reliance Textiles’ Manufacturing unit. This unit has the rare distinction
of being certified as “excellent even by developed country standards” in that period. |
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The Small Business and Self-Employment Service (SBSES)
is a service of the Office of Disability Employment Policy of the U.S. Department
of Labor which provides comprehensive information, counseling and referrals about
self-employment and small business ownership opportunities for people with disabilities.
Entrepreneurship is an exciting opportunity for people with disabilities to realize
their full potential while becoming financially self-supporting. Some of the benefits
of self-employment or small business include working at home, control of your work
schedule and the independence that comes from making your own decisions.
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1. Index1
2. Index2 |
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