The 20 richest people on the planet are worth a staggering USD 1.2 trillion, a sum roughly equivalent to the annual economic output of Mexico.
Over a third of Ambani's speech was focussed on RIL's plans.
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Business leaders met Manmohan Singh to discuss the problems facing the country.
The company is offering its own devices under the brand name Lyf along with other brands to employees at a 25 per cent discount.
'The Saudis are in the driving seat in navigating the relations with India; they set its compass and calibrate its pace,' points out Ambassador M K Bhadrakumar.
The boom in organised retail will set the tone for major economic overhaul. The ripple effect will be improved supply chains, volume output, integration into global commerce, and higher tax collection, notes T N Ninan.
Prime Minister Narendra Modi has been ranked as the world's ninth most powerful person by Forbes magazine in a 2015 list which is topped by Russian President Vladimir Putin.
Reliance had already invested Rs 3,900 crore in the state.
Last week, RIL and urea companies failed to settle the key terms of gas supply from April 1 upon expiry of the five-year contracts that priced gas from the eastern offshore KG-D6 fields at $4.205 per million British thermal units.
After grappling with the issue for two years, the Ministry of Petroleum and Natural Gas had on November 21 ordered that the margin to be charged, over and above the gas sale price, should be fixed between the seller and buyers in all sectors other than urea and LPG.
Top leaders from India Inc may be busy throughout the year, but they too have a very strong social life beyond work.
No business delegation has been cleared yet for Prime Minister Narendra Modi 's visit to America from Friday.
The company is keen on creating 'a differentiated e-commerce model'.
Petroleum Minister Dharmendra Pradhan was to give away the awards but he could not attend because he was travelling.
Reliance Industries will sell 20 per cent stake in its oil and chemicals business to Saudi oil giant Aramco for about $ 15 billion and nearly half of its fuel retail business to BP of UK for Rs 7,000 crore. Aramco, the world's biggest crude exporter, will also supply Reliance's twin-refineries at Jamnagar in Gujarat with 7,00,000 barrels of oil a day on a long-term basis, Ambani said.
With this, the total penalty on RIL for missing the target in four fiscal years beginning April 1, 2010 now stands at a cumulative $2.376 billion, the Minister informed the Lok Sabha on Tuesday.
The PM has been named second year running; other contenders include Google's Sundar Pichai, US President Barack Obama, Islamic State leader Abu Bakr Baghdadi.
Industry asked the government to be 'brave and bold' and said that it will rise to the occasion.
Upfront payment of Rs 32,000 cr just half of Budget estimate; no takers for 700 & 900 megahertz bands
Sun Pharma's market capitalisation stood at Rs 100,050 crore on December 5, with its share price closing at Rs 417 a piece - lowest since March 2013.
RIL-BP currently produce gas from Dhirubhai-1 and 3 field and oil and gas from MA field, three of the over one-and-half dozen discoveries made in KG-D6 block
Training his guns on BJP's prime ministerial candidate again over the Reliance gas issue, the Aam Aadmi Party on Friday asked Narendra Modi whether he will bring down the gas price if he comes to power.
Reliance Industries Ltd on Thursday told the Delhi High Court that the Delhi government's decision to probe the Centre's policy on gas pricing was a "peculiar" and "absurd" situation.
Make no mistake, Reliance's entry into Indian e-commerce cannot be taken lightly. It is akin to a combine of AT&T and Wal-Mart challenging Amazon on its home turf, says Shailesh Dobhal.
Reliance announced energy asset sales worth around $ 16 billion; end of the investment cycle in telecom; bringing net-debt to zero in 18 months; value-unlocking options for real estate and financial assets; listing of telecom and retail in five years; and focus on dividends.
Saradha scam accused Matang Sinh, who was recently arrested by the CBI, too will continue to enjoy Z-plus security.
The plan is to de-notify the entire SEZ.
Mukesh Ambani-led RIL, which had a cash chest and marketable securities worth over Rs 90,000 crore (Rs 900 billion) at the end of the last fiscal, is known for very effectively managing its financial resources by placing them in liquid instruments and highly rated securities.
The Ambani brothers, Mukesh and Anil, came together on Thursday to raise the issue of stalled projects plaguing India Inc and implored the Maharashtra government and the Centre to make Mumbai, India's financial capital, an easier place for business and investments. "Several projects are stuck for many years in Mumbai and we would like to know how the government intends to improve the financing and execution of projects, including those relating to infrastructure and education which have been in limbo for long and are affecting the growth of the city," Reliance Industries Ltd (RIL) Chairman Mukesh Ambani told Finance Minister Arun Jaitley. Seated on the same table was his brother, apart from Tata Group Chairman Cyrus Mistry and State Bank of India (SBI) Chairman Arundhati Bhattacharya. Jaitley was addressing the Mumbai Next MMR Transformation conclave, organised by the Maharashtra government and Mumbai First here, through video conference. In his reply, Jaitley said the government was exploring several options of infrastructure financing in India and that a number of international bodies were ready to fund infrastructure development projects. He added the government was keenly considering these funding sources. While praising Maharashtra Chief Minister Devendra Fadnavis for honesty, Jaitley also had a word of advice. Apart from being honest, the government had to be decisive, he said. On his part, Reliance Group Chairman Anil Ambani told the chief minister about his experience of decisions being delayed due to an indecisive bureaucracy and the need to protect officials who wanted to take quick decisions. "Through the past many years, we have faced a number of obstacles in decision-making," he said, adding he was speaking as someone who had lived and invested in Mumbai. Fadnavis responded by saying he would bring about a transparent process to ring-fence officials. Both the Ambani brothers have announced a number of infrastructure projects in and around Mumbai, including a world-class convention centre in Bandra Kurla Complex by RIL, but very few have actually fructified. RIL's special economic zone project failed to take off due to land acquisition problems in Raigarh, while a second SEZ near Mumbai is stuck due to lack of clarity in SEZ norms. The first phase of the Mumbai Metro, set up by Anil Ambani's Reliance Infrastructure, was marred by cost overruns and run-ins with the government over fares. Subsequently, the company withdrew from the second and larger phase, citing inordinate delay. Anil Ambani also withdrew from Mumbai's sea link project on the same grounds. The brothers had also bid for a trans-harbour sea link between Navi Mumbai and Mumbai under the Congress-Nationalist Congress Party government, but their bid was rejected. Reliance Infrastructure is also the power supplier to more than half of this city. Participating in the conclave, some of India Inc's leading bankers said making Mumbai a financial hub would take at least a decade. SBI's Bhattacharya said the Indian currency should be made fully convertible and facilities should be created for it. "However, for this, the economy needs to look up and that will happen only in the next 7-10 years, not immediately," she added. Sunil Kaushal, Chief Executive Officer of Standard Chartered, India, pitched for strong infrastructure to support development. "We will take a long time to develop into a global financial centre. We need to solve transport bottlenecks in Mumbai and have lifestyle facilities for people working in and around these areas," he said.
Issues related with intellectual property rights, including piracy of films and software, figured prominently during the India-US CEO Forum in New Delhi attended by Prime Minister Narendra Modi and US President Barack Obama.
The strong correlation between its sales (revenue or turnover) and crude oil prices (average for the financial year) suggests that Ambani may be proved right.
The list has been compiled by the Shanghai-based The Hurun Research Institute, the second year it has done this ranking, of an 'India philanthropy list'.
The fixed line broadband will offer "ultra high-definition entertainment on large screen TVs, multi-party video conferencing from your living room, voice-activated virtual assistants, virtual reality gaming, digital shopping, immersive experiences," Ambani said.
Market cap touches Rs 5 lakh crore; earnings growth to spurt in FY19
According to a source close to the development, the government is set to come out with a notification in this regard by the end of this week.
Four Gujarat ministers were handpicked by Prime Minister Narendra Modi to organise the reception for Chinese President Xi Jinping, right from the welcome at the airport to the menu for the dinner at the Sabarmati riverfront, reports Sheela Bhatt.
Trai calls both Jio and incumbents for a meeting to discuss the issue
RIL is also set to file its tariff plans, which will mark the company's intent to commercialise Jio's operations, with the regulator this week
Indian telecom seems to be getting back on its feet.
We have to move from E-governance to M-governance. M-governance does not mean Modi governance. It means Mobile governance, the PM said.
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