Meet man, who guides Mukesh Ambani, Nita Ambani on every major family, business decision; once helped resolve feud with brother Anil Ambani, he is...,
Rameshbhai Oza, or Pujya Bhaishri, is a prominent spiritual leader in India, well-known for his engaging tales and motivating teachings based on Sanatan Dharma. He has delivered his Katha, narrations derived from ancient scriptures, to audiences across continents, captivating the hearts of people from all ages and backgrounds. Who is Rameshbhai Oza?
Beyond a mere religious leader, Rameshbhai Oza is an ardent proponent of value-based education. He argues that, if we want to create a better world, we need to cultivate the minds of the next generation with cultural wisdom and grounding in values. His projects often take tradition and the tools of modern education to inspire young people to attain virtue and live with purpose. Rameshbhai Oza's relationship with the Ambani family
He is a close and longtime friend of the Ambani family, among the most influential business families in India, who often seek his spiritual guidance. His influence is extensive and deep, extending well beyond the spiritual context. Rameshbhai Oza is a light of guidance for countless followers in India and beyond.
Rameshbhai Oza, the highly respected spiritual leader and motivational speaker, is a person who shuns attention, preferring what is dubbed the 'silent life' to a public one. He is often found attending the Ambani family festivities. Rameshbhai Oza notably attended Radhika Merchant's Arangetram at The Grand Theatre, Jio World Centre, where he was treated graciously by Mukesh and Anil Ambani.
Rameshbhai Oza is well-known as an engaging and thought-provoking speaker and addresses a broad spectrum of topics—inner peace, mental health, education, diligence, and financial sensibility. He engages with the audience through multiple interleaved formats that overlay the discussion with eloquent, human spirituality; practical life on what can be close to presenting his spiritual insights in any context.
Rameshbhai Oza, known to many as Bhaishri Maharaj, was instrumental at a key moment for the Ambani family. After the untimely death of Dhirubhai Ambani, the founder of Reliance Industries, there were tensions between his sons, Mukesh and Anil Ambani, regarding business and property issues. At that time, their mother, Kokilaben Ambani, reportedly sought Bhaishri's guidance and support for mediating the family dispute. Since that time, Mukesh Ambani has held Bhaishri in the highest regard and continues to talk to and consult his spiritual guide on business decisions and in his personal life. Anil Ambani also continues to value his spiritual mentor's support and guidance with life's details.
According to media reports, Rameshbhai Oza was first introduced to the Ambani family when he was invited to do a Ram Katha, a traditional spiritual telling of the story of Lord Rama's life and values. From there their relationship solidified into a profound and deeply rooted friendship. Over the years, the family's spiritual guide has become a trusted authorizer of spiritual direction, wisdom, and comfort during important family life lessons.
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Business Standard
6 hours ago
- Business Standard
Tycoons who profit from India's increasing demand for Russian oil
The last time many Americans paid any attention to Jamnagar, a sunbaked industrial stretch on the mud flats on India's Gulf of Kutch, it was thanks to Rihanna. She performed there in March 2024 for an exclusive audience — Bill Gates, Mark Zuckerberg, Ivanka Trump and the like — at the pre-wedding party for Anant Ambani, the younger son of Asia's richest man, Mukesh Ambani. They were in Jamnagar, which had no international airport or hotel rooms for most of the guests, because its port and oil refineries have become central to the Ambanis' empire and $115 billion fortune. One week later, Mr. Trump signed an executive order that doubled the punishment. In effect, he pushed India's exporters into peril on the grounds that their government was aiding Russia's war aims in Ukraine by letting Indian companies profit from the international oil trade. Mr. Trump did not name the companies. But all roads lead back to Mukesh Ambani and his company, Reliance Industries. Its principal refinery in Jamnagar — part of Gujarat, the home state of India's prime minister, Narendra Modi — is the biggest in the world. Many of Reliance's investments there and across India have been planned in consultation with Mr. Modi and other politicians. This area, including another refining business nearby, brings in 1.5 million barrels of oil every day, about a third of it shipped from Russia. The Reliance name is everywhere in India. The company, started by Mukesh Ambani's father in Bombay (now Mumbai) in 1965 as a trading house for polyester, is the nation's biggest conglomerate, composed of dominant players in energy, data and mobile networks, retail, finance, and more. The companies stream HBO, they own one of the world's most valuable cricket teams, they run a legion of charitable foundations, and recently they bought up nearly every haute couture brand in the country. The Reliance refinery at Jamnagar is internationally rated in the top percentile in terms of complexity. There are many kinds of crude oil, and the Jamnagar facility can easily switch from refining crude from the Persian Gulf, Latin America or wherever the best prices can be found. Jamnagar had processed 500 types over the past 25 years, a Reliance spokesman said. While about 30 percent of the crude that Reliance buys comes from Russia, a company spokesman said, 'it is incorrect to attribute profitability only to Russian crude oil discounts.' He added that the company had been consistently profitable over decades, more so than any regional competitor, both before and after the wartime discounts. The money it makes selling refined products to Europe is a small fraction of its total output. The other big refining business in Jamnagar is Nayara Energy, just a few miles away from Reliance's. The Nayara refinery is massive and modern, too, though its output is only a third of Reliance's. Since 2017, Nayara has been 49 percent owned by Rosneft, Russia's state oil company. One of its other largest stakeholders is a Russian-owned investment firm. That means that a Rosneft-backed entity has been buying oil from Russia, processing it in India and in some cases selling the results back to Europe. Unlike Reliance, it has most of its eggs in one basket. In the first year of the war in Ukraine, these private refiners became the world's biggest buyers of seaborne Russian crude. Shut out of the European market, Russia offered discounts to whoever would take its stranded crude. India, along with China and Turkey, stepped in. For two or three years, Indians and Americans took it in stride. Eric Garcetti, President Joseph R. Biden Jr.'s ambassador in New Delhi, said at a conference in Washington in May 2024 that 'we wanted somebody to be buying Russian oil,' to stabilize the price. Mr. Trump's salvo seemed to come out of the blue. Pankaj Saran, a former Indian ambassador to Russia who runs the NatStrat think tank in New Delhi, said archly, 'The trigger for the penalty would seem to be an action which has been going on in plain view since 2022.' To him, Mr. Trump's recent talk about Russian oil looks like a red herring. India, home to 1.4 billion people and the world's fastest-growing large economy, has only modest oil reserves and needs to import 85 percent of its supply. Traditionally that meant spending hard currency in the Persian Gulf. The pressure those purchases put on India's balance of trade forces the government to take a strong interest in how its thirst for oil can be met. 'We are completely defenseless against energy costs, because we don't have oil,' Mr. Saran said. For that reason, 'the government has actively encouraged the refining sector.' Reliance's balance sheet is such that it does not need the Russian oil trade, and Nayara Energy might not, either. (It did not respond to requests for comment.) There are indications that all of India's importers of crude were already scaling back their purchases, as European countries prepared to toughen up their constraints. Mr. Trump's threats though have put Mr. Modi's government in a bind, and businesses like Mr. Ambani's with it. Any shift away from Russia now will look like a capitulation. Even if that were a good deal, it is not something that any elected leader of India can afford.
India.com
9 hours ago
- India.com
Big worry for Mukesh Ambani as Trump's tariffs impact his THIS business, likely to face major setbacks, Reliance warns of...
Equity benchmark index Sensex tumbled nearly 1 per cent to slip below the 80,000 level on Friday as growing concerns over the impact of the additional US tariff and unabated foreign fund outflows unnerved investors. Deep losses in market heavyweights Reliance Industries, HDFC Bank and Bharti Airtel also added pressure on equities, traders said, PTI reported. Last week, Trump announced 25 per cent reciprocal tariffs on India that came into effect from August 7. The US president on Wednesday also signed an executive order slapping an additional 25 per cent levy on India for New Delhi's purchases of Russian oil, bringing the total duties to 50 per cent, among the highest imposed by the US on any country in the world. The additional 25 per cent duty will come into effect after 21 days or August 27. This new tariff is also putting pressure on Reliance Industries, owned by India's richest person, Mukesh Ambani. The company has issued a warning to the market. In a report on Friday, the company warned that geopolitical and tariff-related uncertainties could inhibit the flow of business, consequently affecting the equilibrium of supply and demand. On Thursday, the Reliance share price fell 1.0%, but closed down only 0.2%. As of writing on Friday, the shares were trading at 1,373.20, and down 1.17%. Over the past month, Reliance's stock has dropped by nearly 11%. Reliance Industries operates the world's largest refinery at a single location in Jamnagar, Gujarat. It processes various types of crude oil to make petrol, diesel, ATF, and other products for both domestic and export markets. In its annual report, published on Thursday, RIL commented on the future of its oil-to-chemicals (O2C) business. RIL stated that while the use of electric vehicles (EVs) is increasing, oil demand is still expected to continue increasing, primarily driven by strong economic growth, the Chinese stimulus measures, and the perceived easing of geopolitical tensions. This report, which fails to mention Russia as a source for crude oil purchases, was released a day after US slapped a 50% penalty tariff on products that came from India. Trump said India was buying Russian crude oil and was allegedly helping finance the Kremlin's war in Ukraine. Prior to instituting the extra 25% tariff, U.S. President Donald Trump noted India was purchasing and re-exporting Russian crude oil in a social media post. On August 4, Trump said, 'India is not only buying massive amounts of Russian Oil, they are then, for much of the Oil purchased, selling it on the Open Market for big profits.' The oil-to-chemicals (O2C) sector is the largest part of Reliance Industries' economic value creation, alongside other segments like telecommunications, media, and entertainment. Reliance Industries processed 80.5 million tons of crude oil at its Jamnagar refinery, in fiscal year 2025. The company, in its FY25 annual report published on Thursday, stated that while it expects crude prices to stay volatile due to shifting sanctions, altered tariff policies, and OPEC and non-OPEC production decisions, oil demand is still expected to rise despite growing adoption of electric vehicles, based on a positive economic outlook. In its oil outlook for 2025, the company, which reported its highest revenue and net income – Rs 10.71 trillion and Rs 81,309 crore respectively in FY25, indicated that the ramp-up of a new refineries may generate milder product crackings. RIL said, 'But expected closures can create upside potential for refining margins. Domestic fuel demand is expected to remain healthy with increasing economic activity, while domestic demand for downstream chemical products is expected to grow ahead of the GDP growth rate, driven by demand from infrastructure, packaging, automobiles and agriculture.'
India.com
10 hours ago
- India.com
Revealed: This Indian private company bought the most oil from Russia, the name is..., now tariff may affect profit and margin both
Revealed: This Indian private company bought the most oil from Russia, the name is..., now tariff may affect profit and margin both As the Indian government continues to gauge the impact of additional 25 per cent tariff, total 50 per cent, announced by US President Donald Trump, the Indian company, which is the largest buyer of Russian oil, has warned of far reaching consequences of Washington's arbitrary decision. According to a report, Reliance Industries is India's largest buyer of Russian crude oil. Reliance Industries, in its annual report for the year ending March 2025, underlined that global crude oil prices remained volatile due to geopolitical tension in the Middle East, shifting shipping routes, OPEC and non-OPEC output decisions and other reasons. However, the company did not mention US tariff imposition in the report. India historically bought most of its oil from the Middle East, including Iraq and Saudi Arabia. However, things changed when Russia invaded Ukraine in February 2022. India, the world's third-largest crude importer after China and the US, began snapping up Russian oil that was available at a discount after some in the West shunned it as a means to punish Moscow for its invasion of Ukraine. Why has Trump singled out India? Earlier this week, US President Donald Trump on slapped an additional 25 per cent tariff, raising it to 50 per cent, on goods coming from India as penalty for New Delhi's continued purchase of Russian oil, a move that is likely to hit sectors such as textiles, marine and leather exports hard. The United States has imposed this additional tariff or penalty for Russian imports only on India while other buyers such as China and Turkey have so far escaped such measures. The 30 per cent tariff on China and 15 per cent on Turkey is lower than India's 50 per cent. What is Trump's stance? Donald Trump stated that trade negotiations with India will not proceed until the ongoing tariff dispute is resolved, after his administration decided to double tariffs on Indian imports. When pressed by news agency ANI at the Oval Office, whether he expected talks to resume in light of the new 50% tariff. 'No, not until we get it resolved,' he replied.
