Back in Time is ED’s newspaper-like column that reports an incident from the past as though it had happened just yesterday. It allows the reader to relive it several years later, on the date it had occurred.
July 7, 2002: “For those who dare to dream, there is a whole world to win.” This simple ideology guided Dhirajlal Hirachand Ambani aka Dhirubhai Ambani, who passed away on 6th July, yesterday at 11:50 pm in Breach Candy Hospital, Mumbai.
Ambani, the creator and patriarch of the Rs. 55,000-crore Reliance Industries and the son of a Gujarati village schoolteacher, underwent a significant brain stroke and was hospitalised at the Breach Candy Hospital in Mumbai on June 24, 2002. His first stroke, which happened in February 1986 and left his right hand paralysed, was followed by this second stroke. Several medical professionals were contacted while he was in a coma for more than a week until he passed away yesterday.
The “darshan and homage” ceremony was held at the Ambani residence in Sea Wind, Cuffe Parade, on July 7. At 4.30 pm on the same day, he was cremated at Chandanwadi Crematorium in Marine Lines.
The story of Dhirubhai Ambani begins in 1958 when he travelled back to Mumbai from Aden after quitting his office job there with a few thousand rupees in his pocket and the ambition to found his own oil company.
Over the course of the following 40 years, he established a large-scale petrochemical and energy corporation, paved the way for an entire generation of entrepreneurs, and established an equity cult among tiny investors who had never heard of Dalal Street.
The key to Dhirubhai’s success was his ability to see commercial possibilities and act promptly. He allegedly urged them to “think big, think fast and think ahead,” according to former coworkers.
Ambani thought he still had more to accomplish despite having accomplished more in his lifetime than most company empires do in centuries. One ambition he never saw come true was dominating Wall Street the way he had Dalal Street back in the 1970s.
The other unfulfilled dream he mentioned was of an India where villages had reliable water supplies and were connected to the rest of the world through science and technology. He mentioned this dream when he received the ET Lifetime Achievement Award the previous year. Dhirubhai Ambani, the small investor’s messiah, passed away at the age of 69 dying with his boots on.
Also Read: Back In Time: 108 Years Ago, On This Day, Mother’s Day Was Celebrated Officially For The First Time
Post Scriptum
Presently owned by Mukesh Dhirubhai Ambani, Reliance Industries Limited is a multinational conglomerate corporation in India, headquartered in Mumbai. Energy, petrochemicals, natural gas, retail, telecommunications, mass media, and textiles are just a few of the many industries it is involved in.
One of India’s most lucrative businesses, Reliance is also the country’s biggest publicly traded business in terms of market capitalization and revenue. With nearly 236,000 people, it ranks as India’s eighth-largest employer.
As of March 31, 2022, RIL’s market capitalization was US$243 billion. As of 2021, the company is listed as the 155th largest organization in the world on the Fortune Global 500 list.
With 8% of all Indian merchandise exports and access to markets in more than a hundred nations, Reliance is still the country’s top exporter. Nearly 5% of all customs and excise duty earnings received by the Indian government come from Reliance.
Additionally, it is India’s largest private-sector income taxpayer. Reliance Industries became the first firm in India to reach $100 billion in sales. Its contributions to the Indian economy are truly noteworthy.
Dhirubhai was a brilliant leader with admirable qualities. His success story inspired a generation of Indian business people, executives, and forward-thinking organizations. He is still viewed by many as an icon and an example to follow.
Disclaimer: This article has been fact-checked
Sources: Times Of India, Outlook India, +more
Image Source: Google Images
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This post is tagged under Dhirajlal Hirachand Ambani, Dhirubhai Ambani, Kokilaben Ambani, Reliance Imdustries Limited, Mukesh Ambani, Anil Ambani, Nita Ambani, Tina Ambani, Isha Ambani, Akash Ambani, Anant Ambani, Breach Candy Hospital, Mumbai, business
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