NEW DELHI: Prime Minister Narendra Modi received a young visitor at his 7, Lok Kalyan Marg residence late evening in the middle of October. The meeting signalled a big change at the top level of India’s largest private sector corporation Reliance Industries Ltd (RIL).
The man who drove into the Prime Minister’s residence in a black Mercedes was Anant Ambani, the younger son of India’s second richest man Mukesh Ambani. Sources said RIL chairman Mukesh Ambani has handed over the job of handling matters relating to government, politics and legal affairs to Anant.
The young Ambani has been travelling to states to meet chief ministers. He is said to have developed a good rapport with several chief ministers, including prominent ones from the BJP-ruled states, with whom he is maintaining close contact. His one-and-half-hour meeting with the prime minister was focused on the impending change of guard at Maker Chamber in Mumbai, RIL’s headquarters, it is reliably learnt.
The 27-year-old Anant will handle the legacy business of oil, while his older siblings Akash and Isha will focus on the group’s new ventures digital, including telecom, and retail. Akash, along with sister Isha, will also look after marketing and brand building. Anant was inducted into the board of RIL’s clean energy companies last year.
Sources said the Reliance group’s key troubleshooter and Rajya Sabha member, Parimal Nathwani, will also hand over the baton to his son, Dhanraj Nathwani, who will henceforth handle corporate affairs in the national capital. Dhanraj has so far been handling RIL’s affairs in Gujarat. He is now being given a new office in Delhi.
Dhanraj is married to the daughter of Ahmedabad-based businessman Rajesh Khandwala. Khandwala has had financial links with Jay Shah, son of Union home minister Amit Shah. Dhanraj was last week elected as the president of Gujarat Cricket Association, a post earlier held by Narendra Modi and Amit Shah. Dhanraj also played a key role in the construction of the Narendra Modi Cricket Stadium in Ahmedabad.
Sources said Anant and Dhanraj will henceforth handle government affairs in Delhi. The old Reliance hand, V Balasubramanian, a.k.a Balu, and Parimal Nathwani will continue to mentor the two young leaders in government affairs for some time.
According to sources, the group plans to aggressively promote the Jio brand and ultimately phase out the Reliance name. The group’s founder Dhirubhai Ambani had picked Reliance as the brand name to send out a message to his investors and supporters that they could rely on him.