Mukesh Ambani has set an eye contact rule for Reliance top leadership: 'It's important to...'
Reliance Industries Chairman Mukesh Ambani has revealed the one principle that he has followed for over 40 years in his career. In an interview with McKinsey & Co, the richest man in India revealed that he set an "eye contact" rule for top leadership at Reliance to show sincerity to employees. The 68-year-old billionaire and businessman said that this belief is part of Reliance's "institutional culture"(PTI)
"About 30 or 40 years ago, I said that another principle I should personally have is to look any of my employees in the eye. At Reliance, we tell our leaders that it's important to have eye contact because then you express your sincerity. I think we can put all our principles to our top 100 leaders by saying, 'These are our principles. We'll do what is right. Whatever we do, we should be able to look at each other and say we are not embarrassed," he said.
The 68-year-old billionaire and businessman said that this 'eye-contact" principle is a vital part of Reliance's "institutional culture", which he believes is their "best insurance against any kind of risk." Mukesh Ambani's biggest risk
In the interview, Ambani revealed that his 2016 return to the telecom industry with Reliance Jio was the "biggest risk" he had ever taken. However, the industrialist said that even if analysts' predictions of financial failure had come true, he would have considered the risk worth it for the role it played in transforming India digitally.
"I told my board, 'In the worst case, we will not earn much return. That's okay because it's our own money. But then, as Reliance, this will be the best philanthropy that we will have ever done in India because we will have digitised India, and thereby completely transformed India'," he added.
Since its launch in 2016, Jio has transformed the Indian telecom landscape, offering free voice calls and ultra-affordable data plans.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
29 minutes ago
- Time of India
RBI extends money market trading hours
MUMBAI: RBI has extended trading hours for key money market segments to improve liquidity management, enhance price discovery. It also aims to bring Indian markets closer to global standards. From July 1, the call money market will remain open till 7pm, while from Aug 1, market repo and tri-party repo (TREP) trading will close at 4pm. The extended timings are expected to ease end-of-day liquidity pressures, particularly for banks facing shortfalls after 5pm. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
44 minutes ago
- Time of India
Fuels to be available at select Reliance, Adani companies' outlets
MUMBAI/NEW DELHI: Adani Total Gas and Reliance BP Mobility have formed an alliance to offer their respective fuels at each other's retail outlets, marking another collaborative venture between two of India's prominent conglomerates, Adani and Reliance. Previously, Reliance Industries acquired a 26% stake in Adani Power's subsidiary, Mahan Energy, for Rs 50 crore. The latest collaboration enables Adani Total Gas to sell Reliance BP's petrol and diesel at their stations, while Reliance BP will distribute Adani's CNG at their outlets. This arrangement plugs gaps in both companies' fuel distribution networks. PSU oil companies follow a similar practice in various cities, particularly Delhi, where CNG retailers have installed dispensing units at petrol pumps. Adani Total manages 650 CNG stations nationwide, while also offering compressed biogas, EV charging facilities and LNG for transportation. Reliance BP has a larger network of 2,000 retail outlets dispensing liquid fuel, complemented by EV charging services at select locations and convenience stores. A joint statement said they would make their respective fuels available at "select outlets". Adani Total will install CNG dispensing units at Reliance BP outlets, while Reliance BP will "integrate Adani Total's CNG dispensing units, within Adani Total's authorised geographical areas". by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Perdagangkan CFD Emas dengan Broker Tepercaya IC Markets Mendaftar Undo This means that Adani Total will set up CNG dispensing units at Reliance BP stations in areas where the former has the licence to sell CNG fuel. Reliance BP's outlets are operated under the Jio-BP brand. The agreement covers current and future outlets of both companies. Last year, RIL acquired a minority stake in Mahan to align with rules that mandate a 26% ownership for captive users. This secured a 20-year power supply from Mahan. Reliance, owned by Mukesh Ambani, operates in oil and gas, retail, telecom and financial services sectors. Adani, controlled by Gautam Adani, has interests in airports, seaports and cement. Their business paths have intersected recently in media, clean energy, data centres and petrochemicals. In 2022, a firm with connections to Ambani sold interests in news broadcaster NDTV to Adani, marking the latter's first big play in the media sector and creating competition with Ambani's Network 18. While RIL dominates petrochemicals, Adani Petrochemicals is building a petrochemical facility in Mundra, Gujarat. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
2 hours ago
- Time of India
Forging success: Quality Chrome is strengthening India's industrial backbone
Live Events In the complex web of India's industrial ecosystem, Quality Chrome Pvt Ltd has emerged as a crucial enabler, revolutionising how micro, small, and medium enterprises access high-quality raw materials and technical in Kolkata, the company specialises in iron ore and ferro alloy products, and has a diverse clientele ranging from steel manufacturers to refractory producers. Since its inception in 2020, Quality Chrome has introduced a new level of professionalism, quality control, and competitiveness to Indian MSMEs engaged in manufacturing, metallurgy, and allied industries. Its commitment to consistency has created a ripple effect in the ecosystem, benefiting enterprises that struggle to access premium raw materials at competitive transformation, international flourishThe company's transformation of India's MSME landscape stems from its recognition of a fundamental challenge: small manufacturers face quality and supply inconsistencies that hinder their ability to meet delivery commitments. Quality Chrome has addressed this by developing robust sourcing networks and stringent quality control. It collaborates with international inspection agencies at both plant and port levels to ensure all batches meet stringent benchmarks. The result: even micro enterprise clients receive materials that meet global quality-focussed approach has helped Quality Chrome go places, literally. In the last two financial years, the company generated up to 95% of its revenue from export sales to North America, the European Union, Southeast Asia, and West Asia. The feat earned it the Startup of the Year award in 2024 by CEO Magazine India, and the Top Exporter of the Year (Trading) award at the ET MSME Awards Chrome also stands out for its relationship-building. Rather than treating smaller clients as secondary priorities, it has invested in understanding their operational challenges. This has led to innovative solutions including technical advisory services, flexible payment models, and customised material grades that help MSMEs optimise production processes while maintaining cost company's success demonstrates how mid-sized companies can drive ecosystem transformation by prioritising long-term partnerships over short-term profit. By investing in the success of its clients, it has created a sustainable business model that grows alongside the broader industrial India's MSME sector continues its trajectory towards becoming a global manufacturing hub, companies like Quality Chrome serve as essential infrastructure providers, ensuring that enterprises, regardless of size, have equal access to quality materials and the expertise necessary to compete effectively. Its model proves that industrial transformation begins with consistent quality and committed partnerships that empower smaller players to achieve larger more winner vignettes of the ET MSME Awards , keep an eye on this space.
