Abstract
Subject The tycoon Mukesh Ambani and India's business climate. Significance Mukesh Ambani, chairman of the Reliance Industries Limited (RIL) conglomerate, has ambitious plans to dominate India’s telecoms and retail sectors while making RIL debt-free. Ambani has long been close to Prime Minister Narendra Modi, whose government has reduced corporate tax as part of attempts to revive slowing growth. In recent months, though, the tycoon has begun showing more support for opposition leaders. Impacts A deal for Saudi Aramco to invest in RIL’s oil-to-chemicals division will face regulatory hurdles. Reliance Jio will dominate India’s telecoms sector, especially because additional, court-sanctioned licence levies will hit its rivals. Mukesh Ambani’s business rivalry with brother Anil will decrease, given Anil’s declining fortunes.
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