does mukesh ambani have yacht

• Whats Cooking
• Relationships
• Art and Culture
• Beauty and Care
• Healthy Living
• Tips & Tricks
• Beauty & Care
• Celebrity Fashion
• Mutual Funds
• Science And Future
• Create on India
• Ayodhya Ram Mandir
• Oscars 2024
• Indiatimes Frontlines
• India On Plate
• Sustainability
• Give Up Plastic
• The Great Indian Brain Drain
• #DubaiLikeALocal

Meet Billionaire Owner Of The World's Most Expensive Yacht Amevi; It's Worth Rs 1,000 Crore

The owner’s suite on the upper deck features a cut above the rest with a full-beam design. it also includes a lounge and private outdoor space with two jacuzzis..

It's not news that the world's top billionaires own ridiculously expensive things, from luxury cars to opulent houses and private jets. We have all witnessed that the ultra-rich have a penchant for all things luxury.

But the world's most expensive yacht, the Amevi superyacht, can put even the most extravagant things. And it is owned by none other than the steel magnate Lakshmi Mittal. Here's all about Amevi.

All about superyacht Amevi

Mittal owns a 262-metre Amevi superyacht worth around Rs 1,000 crore. The yacht has a swimming pool, gymnasium, spa and cinema hall. Amevi features a magnificent sky lounge, offering panoramic views and a large terrace to get to the sun decks. It also features a massage room, salon, helipad, and stabilised pool table.

The Amevi superyacht was built in 2007 by Oceanco, a shipyard based in the Netherlands and designed by Nuvolari Lenard. Oceanco is a team of experts who merge the expertise of old-world Dutch craftsmanship with cutting-edge technology to create unparalleled masterpieces.

Renowned luxury yacht designer Alberto Pinto has designed the interiors of Amevi. It accommodates 16 guests in its 8 VIP rooms and can carry over 20 crew members.

The owner's suite on the upper deck features a cut above the rest with a full-beam design. It also includes a lounge and private outdoor space with two jacuzzis.

The yacht has twin MTU 16V 595 TE70 engines with a total power of 9,100 HP (6,800 kW). The yacht reaches a maximum speed of 18.5 knots or 34.3 kmph, with a cruising speed of around 14 knots or 26 kmph.

Ranked the 7th richest Indian globally, Mittal has embarked on voyages to India, Spain, Gibraltar, and Norway aboard his lavish yacht.

Most expensive yachts by Indian billionaires

Other prominent Indian billionaires who possess yachts include Mukesh Ambani, Anil Ambani, Adi Godrej and Gautam Singhania, among others.

Mukesh Ambani, Asia's richest man, reportedly owns an ultra-luxury yacht shaped like a horseshoe, boasting a mind-boggling cost of $100 million. Stretching an impressive 58 meters, the yacht is replete with luxurious amenities, including private suites, a spa, a 25-meter swimming pool, and a lounge bar.

Not to be outdone, his younger brother Anil Ambani, accompanied by his wife Tina Ambani, also purchased a yacht named TIAN, though the exact cost, rumoured to be around Rs 200 crore, remains undisclosed.

Former billionaire Vijay Mallya once used to own a yacht named the Empress of India, which he had bought for an undisclosed amount in 2006. Mallya said in 2018 that the 95-metre yacht was sold for 43.5 million.

For more on news and current affairs from around the world, please visit Indiatimes News.

Senior Writer at Indiatimes. She writes on International Affairs and human interest stories shared on social media.

Accept the updated Privacy & Cookie Policy

Travel News

Super Luxury Yachts Owned by Top Indian Celebs

Last Updated: April 27, 2022

India’s richest and well-known men (representing business and entertainment) own some of the most impressive and stylish yachts

1. mukesh ambani.

Mukesh Ambani is the richest man in the country, so you can imagine the magnanimity of his choicest possessions, especially his luxury yacht which set him back a whopping amount of over US$ 100 million. Measuring somewhat close to 58 meters long and about 38 meters wide, its pictures reveal that it is nothing short of a floating mansion on the high sea, spread over three sprawling decks.

There are many cool features that promise absolute entertainment and relaxation onboard. It comes with a retractable solar glass roof and further fitted out with a vast spectrum of comforts and facilities. Besides exclusive space for a helipad, the high-tech yacht also includes personal guest suites, sauna, massage room, spa, piano lounge bar, outdoor sunbath area, and a pool that spans over 25 meters.

2. Vijay Mallya

Vijay Mallya, the former owner of Kingfisher Airlines, has always been a pacesetter and his love for the prized materialistic luxury is evident from his high-end purchases including Kalizma (a 50-meter yacht) and the mega yacht, Indian Empress. Not to mention, he is one of the firsts in the country to kick off this trend of owning luxury yachts. Al though Indian Empress was confiscated in 2018 due to Mallya’s legal battles, this breathtaking 95-metre yacht deserves to be on this list due to its plush features and high-end amenities.

This yacht was originally made for the member of a royal Qatari family, before Mallya owned it by paying a jaw-dropping amount of over $112 million in 2006. It is so expansive and massive that it boasts of a lavish master suite and some 15 plus guest staterooms. Add to this stunning interiors enhanced by an array of glam features like helipad, gym, Jacuzzi, beauty salon, massage room, and spacious deck spaces. Given an ardent party lover, he made this yacht a venue for several prestigious celebrations including the parties during Monaco Grand Prix which was mainly graced by A-list guests.

3. Lakshmi Mittal

Lakshmi Mittal, the Indian steel tycoon and the Executive Chairman of ArcelorMittal, is another popular super yacht owner in India. Amevi, the approximately 80 meter yacht, has been in his ownership ever since he bought it for a dear amount of $125 million in 2007. A Netherland-based company, Oceanco, built this superyacht, which is one of the largest in the world. Featuring twin engines (MTU 16V 595 TE70) with the combined power of more than 9,000 horsepower, this top class luxe vessel can cruise up to a speed of 34 kilometers per hour (18.5 knots).

Amevi has a glossy and stylish aluminum structure with a steel hull. Speaking of its magnificent interiors, it is meticulously decorated by the well-known luxury yacht designer, Alberto Pinto. The majestic vessel is catered by 20 plus crew members and can accommodate up to 16 guests in its eight VIP staterooms. While the main cabin is double and adorned with luxe fittings (including cherry furniture and Italian marble), each of the guest’s cabins is twin and has all facilities such as huge television, en-suite bathrooms etc. The vessel is also replete with a pool, gym and public areas.

Contrary to other yacht owners who rent or charter out their yachts, Amevi is solely for Mittal’s personal use. It is mostly spotted cruising at Barbados area.

4. Anil Ambani

Anil Ambani, the brother of Mukesh Ambani, is another business magnate who has splashed his wealth on buying a luxury yacht. It is named TIAN, which combines the first two letters of Anil and his wife, Tina. In fact, he made this astounding purchase worth $80 million as a gift to his wife. Marked by elegant style, inspiring décor and state of the art engines, it encompasses six marvelous cabins which can host up to 12 guests. Since its possession in 2008, the couple has sailed to some cool and striking locations.

5. Gautam Singhania

The Raymond Group’s chairman, Gautam Singhania, bought the yacht – Ashena, in 2006. Like most other yachts in this list, it has everything to guarantee an opulent stay or outing on water. But, what makes it different and uniquely appealing is its classic structure that is mostly built using Burma teak. With its high performance Volvo engines, it can attain a maximum speed of up to 20 kilometers per hour (equivalent to 11 knots). Besides a crew of 8, it offers space for up to 10 guests, making it ideal for intimate gatherings.

6. Salman Khan

The Dabangg star of Bollywood, Salman Khan, is known for his obsession for cars and bikes. But, did you know he also own a classy luxury yacht? Yes, he bought it to gift himself on his 50 th birthday in 2016. Since then, it has remained one of the actor’s favorite spots to throw private parties or getaway with his dear friends and family members. With a capacity to host not more than 10 people, it is moored (when not in use) at a sheltered location in Alibaug.

Navigating a stunning place aboard a luxury superyacht may be a distant dream for most of us. But for affluent and rich, this is a way of life that allows them to break away from their hectic routine. After all, these vessels are a real palace on water that promises them the best of both worlds. So, which is your favorite celebrity yacht in this list? Come let us know in the comment section below.

World Travel & Tourism Council Forecasts Major Increase in International Travel

Mammooty’s CBI 5 Trailer Features on the Burj Khalifa

Aparna Sisodia

A free spirited girl who loves to eat and talk about street food. During spare time, she loves to read, travel, and experiment with ingredients in kitchen, while cherishing those moments by chronicling them.

These rich Indian business tycoons and celebs are copying their foreign counterparts and splurging money on unnecessary things.

Money can fulfil all types of wishes.

I didn’t have the knowledge of yacht owners offering their yachts for rent or charter. Lakshmi Mittal is exceptional.

There are some rich from whom you can rent or charter a yacht.

Going by the looks and size, my favorite celebrity yacht is the one that Mukesh Ambani owns.

Excellent choice.

If I had been as rich as these people, I would not have spent money on yachts. When renting one can give the same feeling and experience, why reduce the bank balance, and buy a yacht.

We appreciate your thought.

The rich and celebs are whimsical by nature. They can go any length to fulfil their whims. Commoners like us can also express exaggerations.

You are right.

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed .

Follow Us on :

Join The Newsletter

To Receive our best monthly deals

Get call back from us

• Ras Al Khaimah
• Kuala Lumpur
• Singapore Visa from Dubai
• Malaysia Visa from Dubai
• Thailand Visa from Dubai
• US Visa from Dubai
• Schengen Visa from Dubai
• China Visa in Dubai
• Canada Visa from Dubai
• Turkey Visa from Dubai
• Hong Kong Visa from Dubai
• Poland Visa from Dubai
• South Africa Visa from Dubai
• Web Stories
• Festivals and Events
• Romantic Destinations
• Travel Ideas
• Travel Tips

To revisit this article, visit My Profile, then View saved stories

Meet the Indian billionaire with a net worth of Rs 1.35 lakh crore who owns a yacht worth over Rs 1,000 Crore, and it's not Gautam Adani or Mukesh Ambani

The number of billionaires in India has increased to 169, up from 166 in the previous year, according to Forbes' 2023 annual billionaires list.

These Indian billionaires are known for their extravagant lifestyles, own luxurious vehicles and reside in lavish mansions worth crores. While many have invested in private jets, only a select few like Mukesh Ambani, Gautam Singhania , Anil Ambani and others own a yacht. However, there's one Indian billionaire who stands out from the rest for owning the world's most expensive yacht, worth over Rs 1,000 crore.

Meet the Indian billionaire with a net worth of Rs 1,35,282 Crore who owns a yacht worth over Rs 1,000 Crore, and it's not Gautam Adani or Mukesh Ambani

According to DNA , Indian billionaire Lakshmi Mittal owns a 262 metre Amevi superyacht that is worth a whopping $125 million (approximately Rs 1,037 crore). Designed by renowned interior designer — Alberto Pinto (in 2007), the superyacht comes with a heated swimming pool, a grand sky lounge, a cinema hall, a well-equipped gymnasium, a massage room, a stabilized pool table and a helipad, according to Yachtbible.com . The report also stated that the superyacht owned by Mittal can accommodate around 16 guests in 8 VIP suites and 22 staff members in 10 cabins.

With a net worth of $16.3 billion (approximately Rs 1,35,282 crore), Lakshmi Mittal, Chairman of ArcelorMittal, one of the world's largest steel manufacturing companies, commissioned the Amevi superyacht in 2007, which was designed by the renowned Italian yacht design studio, Nuvolari Lenard. The yacht is equipped with a twin diesel MTU (16V 595 TE70) 16-cylinder engine, allowing it to comfortably reach up to 14 knots, according to Yachtbible.com .

Another prominent billionaire who owns a luxurious palace on the water is Mukesh Ambani. The 58-metre-long and horseshoe-shaped luxury yacht set the 66-year-old Indian business magnate back by $100 million (approximately Rs 829 crore), according to DNA . The report also stated that Mukesh Ambani's younger brother Anil Ambani also owns a yacht named TIAN worth around Rs 200 crore.

Read more get smart stories

Mukesh Ambani's family wealth is equivalent to 10% of India’s GDP. Here's all you need to know

Two-time Olympic champion Neeraj Chopra's luxurious lifestyle

Meet the Indian athlete who won a bronze medal at the Paris Olympics and rejected a high-paying government job

Billionaire couple Michelle and Yohan Poonawalla buy 30,000 square feet lavish mansion in South Mumbai

7 highest-paying engineering jobs that can get you a salary of Rs 20 lakh per annum

GQ Recommends

• Middle East

© 2024 - All rights reserved. Designed and developed by Fork Media Group

5 Indian Celebrities And Business Tycoons Who Own Lavish Yachts

Be it business tycoons or celebrities both make headlines with their extravagant purchases. Be it private jets, vanity vans, etc. celebs and tycoons do own one. One of such extravagant purchases is Yacht. This sailing vessel is generally used for sailing, cruising and also racing. Our Indian celebrities and tycoons have already invested in yachts and here are the names.

1. Mukesh Ambani

Indian business magnate Mukesh Ambani loves yachts and owns one which looks nothing less than a floating palace in the sea. It is a 3 deck luxurious and uniquely shaped yacht about 58 metres long and 38 metres wide. There is a lift that connects the decks. The yacht is rumoured to be about 78 million pounds sterling. 

2. Laxmi Mittal

Laxmi Mittal is popularly known as a steel magnate in India and owns one of the largest yachts in the world which is about 80 metres named Amevi. The Yacht has 8 VIP staterooms. Mittal has his own cabin with lavish furniture and Italian marble used in the bathroom. The yacht is about 113 pounds sterling and was built in the Netherlands. 

3. Salman Khan

In the ‘Tiger Of Bollywood’, Salman Khan owns some of the most lavish things and adds to it a yacht. On his 50th birthday in 2016, the actor had gifted himself a yacht reportedly worth 3 crores. He has been hosting a lot of parties on the yacht for his close friends and family. The actor also prefers sailing on his private yacht to unwind with his close friends. 

4. Gautam Singhania

Chairman of the Raymond Group, Gautam Singhania owns a luxurious yacht named MY Ashena. He loves collecting luxury vehicles and his yacht is one of them. The three decked luxurious yacht is completely made out of Burma teak wood. The yacht was constructed in 5 years.it is reportedly said that Gautam spends a whopping amount of 51 crores on the yacht. 

5. Anil Ambani

Anil Ambani, an Indian business tycoon, gifted a luxurious yacht to his wife, Tina Ambani. Including construction and import charges, Anil Ambani paid about 63 million pounds sterling. The yacht is generally anchored near the Gateway of India and the couple does go to exotic locations on it. 

Also read:  5 Most Expensive Private Jets Owned By Bollywood Celebrities

Join The # CT Squad!

Sign up for our daily email and get the best delivered straight to your inbox. We pinky promise to make it awesome!

To revisit this article, visit My Profile, then View saved stories

Jaw-Dropping Ambani Wedding Gifts: 10 Things Anant and Radhika Received (and Maybe Didn’t Need)

We've barely recovered from Anant Ambani and Radhika Merchant's blockbuster wedding and news of the extravagant Ambani wedding gifts has taken over our social feeds. You might wonder, “What does a billionaire couple need that they already don't have?”, but if you ask their celebrity friends, clearly, one can never have enough diamonds or customised supercars .

Instagram content

This content can also be viewed on the site it originates from.

A now viral Instagram reel details the gifts. From palace-like mansions to luxury cars, the gifts presented to the couple are sure to raise eyebrows.

Let’s dive into the most outrageous Ambani wedding gifts – and the gift givers, the couple's high-profile friends and family members – that have sparked curiosity and speculation, each more impressive than the last.

The parents of the groom spared no expense, gifting their son and daughter-in-law a sprawling 3,000-square-foot mansion in Palm Jumeirah, Dubai. This opulent residence is valued at a staggering $80 million and is one of the many celebrity-owned villas on the man-made island .

The Meta CEO and tech mogul Mark Zuckerberg is said to have gifted the couple a private jet (some reports suggest it is a yacht instead), a luxury that comes with an estimated price tag of $36 million.

Microsoft co-founder and global philanthropist, Bill Gates, is said to have gifted a diamond ring valued at $1.08 million. However, some sources speculate that it might have been a yacht worth $21.6 million instead.

As the founder of Amazon and one of the wealthiest individuals in the world , Jeff Bezos presented the couple with a sleek Bugatti, valued at $1.38 million.

Known as the King of Bollywood, Shah Rukh Khan gifted Anant Ambani and Radhika Merchant a luxurious apartment in France, worth $4.8 million. This international property provides the couple with a stunning retreat in one of Europe’s most desirable locations.

Bollywood’s power couple, Ranveer Singh and Deepika Padukone, are said to have gifted the young Ambani couple a custom Rolls Royce, valued at $2.4 million.

Another superstar Bollywood couple, Alia Bhatt and Ranbir Kapoor, gifted a sleek Mercedes car worth $1.08 million.

Known for his action-packed roles, Bollywood veteran Salman Khan gifted a sports bike valued at $1.8 million.

Considered Bollywood royalty with a legacy spanning generations, the Bachchans are said to have gifted an exquisite emerald necklace valued at $3.6 million.

WWE superstar and Hollywood actor John Cena gifted a Lamborghini worth $360,000.

• Work & Careers
• Life & Arts

Mukesh Ambani: the relentless rise of Asia’s richest man

• Mukesh Ambani: the relentless rise of Asia’s richest man on x (opens in a new window)
• Mukesh Ambani: the relentless rise of Asia’s richest man on facebook (opens in a new window)
• Mukesh Ambani: the relentless rise of Asia’s richest man on linkedin (opens in a new window)
• Mukesh Ambani: the relentless rise of Asia’s richest man on whatsapp (opens in a new window)

Benjamin Parkin and Anjli Raval

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.

When Ajit Mohan landed in the swampy heat of Mumbai last December, he was a man on a mission. The 45-year-old media executive had recently joined Facebook to help reboot its fortunes in India. Although the social media giant had more than 300 million users in the country — more than anywhere else in the world — mis-steps and regulatory scuffles had scuppered its efforts to make any real money there. 

Mohan was joined by David Fischer, Facebook’s chief revenue officer, and the pair were whisked out to the industrial suburb of Navi Mumbai. There, a series of meetings set the company’s plan in motion: to form an alliance with the richest man in Asia.

Mukesh Ambani would not be particularly recognisable outside of India. Heavy set, with deep bags under his eyes and a penchant for white short-sleeve shirts, the camera-shy 63-year-old is a sober contrast to hoodie-wearing, device-clutching American tech bosses. But that appearance belies his importance in a country of 1.4 billion people, and the power that his $80bn fortune brings.

Reliance Industries was a lucrative, if unglamorous, petrochemicals and oil refining group when Ambani took control in 2005, three years after his father’s death. But over the past decade, he has embarked upon a project that has made him one of the most talked about people in Silicon Valley. Jio, the mobile operator he launched in 2016, has already muscled aside competitors to become India’s largest. Ambani hopes it will become the country’s answer to China’s Alibaba, a home-grown tech giant in one of the world’s fastest-growing internet markets. 

For the Facebook executives Fischer and Mohan, joining forces with the “game-changing” Jio was an opportunity that was impossible to ignore. And in April their courtship culminated with Facebook’s $5.7bn investment in Jio — its largest foreign deal to date. The deal sparked a spree that saw a dozen other foreign investors — including Facebook’s arch-rival Google — write several billion-dollar-plus cheques for stakes in the fast-growing company. “It became a FOMO-kind of situation,” says one person involved.

For Ambani, it marked the triumphant apex of a career remaking his father’s energy juggernaut into a conglomerate fit for the 21st century. In addition to its dominance in energy and telecoms, Reliance runs India’s largest retail business. Ambani and his family also own a number of news outlets, oversee a school and a hospital — and run the Mumbai Indians, a successful Indian Premier League cricket team. “He combines exceptional vision, a huge ambition and outstanding execution,” says Harsh Goenka, a Mumbai-based tycoon and friend.

But Ambani is as divisive as he is admired. Interviews with current and former employees, friends, advisers, government officials, business partners and rivals paint a picture of a man who presents his ambitions as entwined with those of the nation. This complements a single-minded pursuit of success and scale, engulfing many of those in his path — including his own brother. 

Ministers are wary of Mukesh Ambani because he is so powerful and there is a sense that he needs to be handled with care Indian government official

In his business victories and accrual of wealth, Ambani sees a clear benefit for his country, now under Prime Minister Narendra Modi’s leadership. In 2018, the businessman argued that Jio was “the most powerful driver of change in India today”. The message: saying no to Ambani’s growth, was akin to saying no to India’s. 

Yet outside observers point to a near-unparalleled ability to leverage his wealth, political nous and Reliance’s scale to build an ecosystem that works in his favour. Ambani is both respected and feared — friends seek his tacit approval before taking on new roles, while rivals try to avoid entering into a direct conflict.

One government official suggested Reliance’s power evoked that of a nation more than a private corporation: “Reliance operates as an independent state within a state. Ministers are wary of Mukesh Ambani because he is so powerful and there is a sense that he needs to be handled with care.”

Ambani’s sprawling business interests — and his political clout — mean he is now perceived as a gateway into India’s blossoming digital and consumer-led economy, one of the last great global growth stories. Having completed the fundraising for Jio, he is raising billions more from top investors for his retail business. But critics fear that what he is building could become a monopoly that will crush competition and, ultimately, hurt Indian consumers, all while concentrating ever more power around himself and his family. “He wants to be Netflix, he wants to be Alibaba,” one former employee says. “He wants to be everything.”

In Ambani’s spacious, sofa-filled office, located in a nondescript south Mumbai building surrounded by chai and snack stalls, hangs a large portrait of his father. If Mukesh is shaping up to be India’s most important tycoon of the early 21st century, Dhirubhai Ambani towered over the end of the previous one.

Born in 1932, he was raised in rural poverty in the western Indian state of Gujarat, emigrating to Yemen as a teenager to work at a trading company. Upon his return to India in the late 1950s, he started trading synthetic yarns, before branching into polyester manufacturing, building factories that turned Reliance into an industrial powerhouse. “Dhirubhai was a great leader,” one person close to the company says. Mukesh and those around him “idolise Dhirubhai”.

In their early years, Mukesh and his younger brother Anil witnessed their father’s struggles to build up his business. Both inherited his outsider’s edge, even as they went on to enjoy a life of luxury. Dhirubhai Ambani was the most prominent newcomer to break into a business elite previously controlled by families who had made fortunes during the colonial era. He was known as a political fixer, maintaining a legendary influence operation in New Delhi that curried favour with bureaucrats and politicians in order to secure much-needed business licences. Critics historically claimed that in those days some officials received benefits, including funding for their children’s education. The company and Ambani have always contested these allegations. 

One person close to the family acknowledged that Dhirubhai had to do “difficult things” in order to break past those elites that maintained a stranglehold at the time. It was a legacy memorialised in the 2007 film Guru , a fictionalised account inspired by his life and distributed by Anil’s entertainment company, which portrays the protagonist as a swashbuckling entrepreneur who pursued growth at all costs and was unafraid to play hardball when shut out by big name business owners. 

Throughout the decades, the conglomerate’s business practices have continued to attract scrutiny. In 2017, the Securities and Exchange Board of India fined Reliance Industries in connection with a market manipulation case (the company has appealed the order); campaign groups have also accused Reliance Industries of having inappropriate links with the government in a Supreme Court case over a gas exploration deal, something Reliance denies. 

Ambani, who rarely speaks to the press, declined to be interviewed for this article. Reliance declined to give responses for publication to various points put for comment, saying they appeared to be based on “inaccurate” information from sources of “doubtful veracity”.

Ambani left Stanford Business School mid-degree in his early twenties to help run a polyester plant, and rose up through the company. But Dhirubhai’s death in 2002 prompted a legendary clash between the brothers over how to run the empire. 

In a 2005 peace deal brokered by their mother, the pair divided the conglomerate. Anil, seen as the more stylish brother and married to a Bollywood star, spun off Reliance’s finance, power and existing telecom businesses and ventured into film production. The comparatively unassuming Mukesh took the core oil products business.

But the brothers continued to trade barbs and to block each other in a fallout that gripped Indians at home and abroad. In an affront to a society that emphasises family loyalty and unity, Anil even became embroiled in a defamation allegation against his brother over comments in which Mukesh appeared to suggest Anil had overseen Reliance’s corporate “intelligence” operations.

It was the launch of Jio that would ultimately give Mukesh the upper hand in the bitter battle with his brother. While he had previously helped set up a telecommunications business under his father, he lost it to Anil under the terms of the 2005 split.

He, in turn, used his first right of refusal under those same terms to scupper a deal by Anil’s Reliance Communications to merge with South Africa’s MTN, which would have created one of the world’s largest mobile companies. Then, in 2010, Mukesh made a decisive move that would ultimately quash his sibling’s business, securing a spectrum licence for his new operator.

This renewed foray into telecoms puzzled many who questioned why a company that ran one of the world’s most successful oil refineries would invest billions in a speculative venture at a time when India’s energy consumption was growing fast. But western energy industry executives who know Ambani say he has long called time on the age of oil. In years past, senior Reliance executives asked industry leaders about the possibility of peak global oil demand. “Now the questions tend to be about when [it] will happen, not if,” says one person involved in such discussions.

Energy remains a key pillar of the Reliance empire but Ambani has sought to dilute his stake and is now pursuing a strategy to become a net zero carbon company. Last year, Reliance said it planned to sell 20 per cent of its refinery business to Saudi Aramco for about $15bn. But the deal, slated to be one of India’s largest ever foreign investments, has stalled after the kingdom baulked at the price tag following the sharp drop in oil prices during the pandemic.

As Ambani’s focus has shifted towards tech, he has often repeated the cliché that “data is the new oil”. India certainly presented one of the world’s most promising markets. Hundreds of millions were buying mobile phones for the first time, though they continued to run on slower 2G and 3G data and were still too expensive for many.

Jio’s plan was to leapfrog the incumbent companies by launching 4G services at radically lower prices. One former employee described this as part of a vision to “democratise access to the internet”. The same source recalled Ambani’s keen interest in the project: having submitted a chunky research document late one evening, a copy annotated in Ambani’s handwritten scrawl was returned to him the next morning. 

When Jio eventually launched in 2016, it quickly accumulated millions of users by offering its services at rock-bottom prices with extended introductory offers, undercutting its rivals and forcing them to bring down their own prices.

A boom in internet use occurred as millions of working-class and rural Indians could video call relatives, stream cricket matches or play online games for the first time. “It took the combined Indian telecom industry 25 years to build a pan-India 2G network,” Ambani said in 2018. To build an advanced 4G network, “Jio took just three years.”

But Jio’s success has been marred by repeated allegations of bully-boy tactics to crush competitors, including predatory pricing. Critics also claim there has been favourable treatment by the authorities, including Jio being exonerated by regulators and competition authorities despite extending introductory price offers past the usual 90-day window.

Reliance’s path was cleared after a 2013 regulatory change allowed it to convert its data licence to transmit voice calls as well. A draft report by the state auditor found that Jio had effectively underpaid by around Rs230bn ($3.2bn) in securing the unified licence, but the final release of the report dismayed Jio’s critics by finding its underpayment to be much smaller.

In the view of Prashant Bhushan, a public interest lawyer who has brought multiple cases against the company: “[Reliance] were quite smart in investing in the telecom sector. But more than that they have been helped at all stages by the government and now by the courts.”

Since then, a wave of telecom companies have been forced to exit the mobile sector or gone bankrupt. Only two private competitors remain: Vodafone Idea and billionaire Sunil Bharti Mittal’s Airtel. Mittal told the FT last year that competing with Reliance was “ hard work  . . . They want to be dominant”. Both companies were dealt a severe blow after a court ruling last year ordered them to pay billions of dollars to the government in historic fees. The younger Jio, however, was asked to pay only $2m.

In the view of Rahul Khullar, a former chairman of the Telecom Regulatory Authority of India: “Biased and partisan regulation in favour of Jio has led to the general crisis in the industry.” He added: “Jio was bleeding Airtel and Vodafone Idea in the hope that you’d have a last-man-standing situation . . . They didn’t care because they had deep pockets elsewhere.”

Reliance vehemently denies that it has received favourable treatment and attributes its success to Ambani’s business acumen and bold vision.

One of the worst hit by Jio’s rise was Mukesh’s brother Anil: it proved a brutal blow to his shrinking half of the business empire. RCom was unable to keep up and quit the mobile sector in 2017 before going bankrupt. In 2018, Anil himself said that the telecom sector was becoming an “oligopolistic structure that . . . could eventually become a monopoly”.

Mukesh’s fortunes stand in stark contrast to his brother. “What [Mukesh] did right, he was the guy who was behind the core businesses. It wasn’t Anil,” says Sucheta Dalal, a veteran journalist, who has long covered them both.

Last year, Anil’s mounting debt troubles were so acute that he was days away from being jailed for contempt of court over a missed $77m payment to Swedish group Ericsson. A last-minute bailout from Mukesh was made sweeter when Anil, in a humiliating capitulation following their feud, conveyed his “sincere and heartfelt thanks to my respected elder brother.” 

A spokesperson for Anil Ambani said the payment was a business transaction, denying it was made in a personal capacity.

Anil is now being pursued by Chinese creditors, who, in May this year, secured a UK court order mandating he pay them $717m. The pressure ultimately prompted him, once the sixth richest man in the world, to claim in court earlier this year that his net worth had plummeted to zero.

Today it is Mukesh who is at number six on the Forbes list. He and his family live in a 27-storey skyscraper complete with a helipad, sports facilities and space for hundreds of staff. The building, named Antilia after the mythical island, is believed to be the world’s most expensive home , with a rumoured price tag as high as $1bn. It has also become one of the most potent and emotive symbols of India’s already extreme inequality, towering over the slums that house four in 10 Mumbai residents without running water and with toilets shared by hundreds of families.

“There’s a category of people, me included, who are outraged by the fact that he spent so much money to build a building,” says one veteran Mumbai businessman, who views it as “an explicit attempt to flaunt his wealth”.

In December 2018, the festivities to celebrate Ambani’s daughter Isha’s nuptials , rumoured to have cost as much as $100m, pushed the already elaborate genre of Indian weddings to new extremes. Beyoncé gave a performance, guests included Hillary Clinton and Ban Ki-moon, and — in a bizarre turn — Bollywood superstars Shah Rukh Khan and Aishwarya Rai Bachchan were photographed serving food. 

Despite this, Ambani and his company push a carefully crafted image of a man of simplicity. Reliance says that Ambani caps his annual salary to Rs150m ($2m) “in order to set a personal example of moderation in managerial compensation levels”. He is religious and regularly performs Hindu rites, shunning meat and alcohol.

One person close to the company says he has “a childlike curiosity”, staying up late reading about emerging business trends. He is also a family man. “You hear stories about the weddings and the choppers and whatnot but, in person, he doesn’t come across as someone who is suffering from megalomania. He is a very simple man,” says one person who has had business dealings with him. 

Ambani’s wealth and influence at home has opened doors abroad. Last autumn, he travelled to the Middle East, where he was born in Yemen in 1957. This time, the setting was an exclusive get-together aboard the megayacht of Saudi Arabia’s crown Prince Mohammed bin Salman in the Red Sea, along with more than a dozen top business people including Masayoshi Son of SoftBank. Of the attendees, it was Mukesh that sat next to the crown prince.

He returned to the Gulf soon after for Riyadh’s annual investment summit, dubbed Davos in the Desert. While there, he attended a dinner hosted by the heir to the Saudi throne, along with Narendra Modi, Jared Kushner, Brazil’s Jair Bolsonaro and Steve Schwarzman of private equity company Blackstone. Although a private business executive, in some ways Ambani was acting as India’s chief diplomat.

Ambani — who once sent a life-sized elephant made out of silver to Middle Eastern royalty — is a deft political operator. At the Riyadh conference, he showered praise on Prince Mohammed, who was facing international censure over the 2018 murder of dissident journalist Jamal Khashoggi. Ambani told the audience that the kingdom, like India, was “blessed with leadership that is unique in the whole world”.

“From Kuwait to Saudi Arabia, Abu Dhabi to Doha . . . [Ambani] has that trust,” says Anshuman Mishra, a former banker who is a close confidant of Ambani and advised him on his international dealmaking. “Sovereign wealth funds, the US tech giants, they will all have to engage with Reliance at some point. That’s the only serious game in town if you think of India.”

Mounting tensions between the US and China have only increased Ambani’s appeal to American investors looking for alternative partners in Asia. India’s own souring relationship with China has also worked in Reliance’s favour. The country’s move to ban nearly 200 Chinese-made apps including TikTok , following deadly border clashes between the two nations in June , has created a vacuum for moneyed newcomers. 

Ambani himself helped to fan economic nationalism. In 2019, he warned about the dangers of “data colonisation” by foreign corporations. Yet, as the government mulled strict new curbs on foreign tech giants, he partnered with Google and Facebook, who between them control nearly two-thirds of India’s digital advertising market.

He is also now said to be in talks about potential investments in his retail venture with online retail giant Amazon, whose expansion plans in India have previously been scuppered by unfavourable regulatory processes for foreign companies that have worked in Reliance’s interest. Reliance has dismissed mention of such talks as speculation, and stressed that its partnerships with Google and Facebook would not compromise India’s data.

At home, Ambani has proved expert at navigating India’s changing political winds, cultivating ties to multiple political parties. But the tycoon’s affinity with Narendra Modi has proved more visceral. Both devout Hindus from the state of Gujarat, Ambani shares Modi’s sense of being an outsider smashing down decades-old power structures, something that Indians too have seized on, delivering two landslide election victories for Modi.

Ambani has aggressively used this alignment to advance Jio, which plastered the leader’s face on its adverts and even pre-installed his controversial “NaMo” app on its low-cost JioPhones. In slogans Reliance has touted that, like Modi, it is “dedicated to India”. 

But there is growing consternation about the systematic way Reliance is placing itself at the centre of critical sectors of India’s burgeoning new economy, raising questions about whether Ambani’s ability to overrun competition will ultimately be good for regular Indians in one of the world’s fastest-growing consumer markets.

In September, protesting farmers burned Jio cards in a gesture against excess corporate power. Harsimrat Kaur Badal, an outgoing government minister, on television held up Jio as an example of the danger of monopolies. “They gave free phones . . . [users] got dependent on it,” she said. “The competition was wiped out, [then] Jio jacked up their rates.”

It’s very difficult to have another major player . . . when [Ambani] enters a field, he enters to be the dominant player

Reliance now runs one-third of all brick-and-mortar stores in the country’s formal retail sector, making it several times larger than its next competitor. The recent tie-up with Facebook and its messaging service WhatsApp, which has 400 million Indian users, gives Reliance unique reach among consumers. “It’s very difficult to have another major player because of the intensity of what he does, the magnitude of what he does,” one person who knows Ambani says. “When he enters a field, he enters to be the dominant player.”

Ambani now has to prove he can make good on his bold claims. While he has touted Jio’s enormous user footprint to investors, regulatory data for June shows that a fifth of Reliance’s 398 million r eported customer base is inactive . And, though at an early stage, many of Jio’s forays beyond telecom such as its payments or chat apps have had limited success so far.

Yet competitors fear Reliance’s ability to draw in billions in foreign investment, all while undercutting rivals, will leave India with fewer choices. “The trouble for us is that they’ll scare investors,” says one venture capitalist. “But whether they’ll create the best products and services, it’s hard to say.”

In a Netflix series shadowing the Mumbai Indians IPL team in 2018, Ambani’s eldest son Akash stands on a cricket field with the top of his white shirt casually unbuttoned. Akash, whose responsibilities in the family business include helping lead the team, banters with the camera while top cricketers train alongside him. “We want to win desperately this year, prove everyone wrong,” he says.

The team went on to have a mediocre season but the younger Ambani’s chutzpah fits with his father’s winner-takes-all business mentality. The tycoon, who often turns to his wife for advice along with a tightknit group of top executives, is slowly shifting his three children — Akash, his twin sister Isha and younger brother Anant — into ever more prominent positions within the empire in what many believe is the early stage of a succession plan.

Akash and Isha had a seat at the table during recent deal negotiations, including the one with Facebook. “It was the way I’d expect a grooming exercise to pan out. They were learning the ropes,” one person involved says. “They were probably being blooded . . . so that one day they go on to run the company.”

Indian business families, not least the Ambanis, have faced infamous succession problems; generations that grew up with silver spoons are treated with particular scepticism. People close to the tycoon say he is determined to avoid the messy familial spats that have marred his own career, pointing to the apparent symmetry of splitting his empire into three units centred on energy, retail and digital services.

By helping to transform Reliance’s businesses into globally run ventures, including giving Jio board seats to experienced investors Facebook and Google, they say that he wants to ensure his children are shielded from perilous domestic politics. “Mukesh now wants to have less engagement with policymakers,” one adviser says. “He doesn’t want his kids to have to deal with it.”

But Ambani also doesn’t want to retire before he’s succeeded in turning Reliance into one of the world’s most valuable companies. In the words of one close to him, Ambani’s plan is to create “not just a telecom player, but a serious tech player with a global footprint.”  

Benjamin Parkin is the FT’s Mumbai correspondent. Anjli Raval is the FT’s senior energy correspondent. Additional reporting by Amy Kazmin

Follow @FTMag on Twitter to find out about our latest stories first.

Promoted Content

Follow the topics in this article.

• Indian society Add to myFT
• Asia-Pacific companies Add to myFT
• Mukesh Ambani Add to myFT
• FT Magazine Add to myFT
• Benjamin Parkin Add to myFT

Billionaire bonanza! Inside the second pre-wedding party of the year as Radhika Merchant and Anant Ambani celebrate with a luxury Mediterranean cruise, custom Versace and performances from the Backstreet Boys

Radhika Merchant and Anant Ambani celebrate their pre-wedding party with a four-day extravanagnza on the Mediterranean

It’s already the most lavish (and most expensive) wedding of the year – and it hasn’t even happened yet. Radhika Merchant isn’t set to tie the knot with billionaire beau Anant Ambani until July, but last month they celebrated their soon-to-be wedded bliss with a second pre-nuptials party.

Some 1,200 guests, including Bollywood icons and Hollywood actor Adam Sandler, gathered to toast Merchant and Ambani over four days of dining and dancing and dancing across the Mediterranean with iconic performers like Katy Perry and the Backstreet Boys .

And where do you host over 1000 of your nearest and dearest? The £900 million cruise liner Celebrity Ascent, of course, which the couple rented out exclusively as they sailed between Palermo and Portofino.

The politician and the Bond girl: Hum Fleming appeared to confirm reports she is dating Zac Goldsmith with a photograph of the two posted to her Instagram page

Radhika wore custom Versace for the Cannes leg of the tour

It was, somehow, an even bigger celebration than their previous pre-wedding bash . Back in March, the likes of Mark Zuckerberg, Karlie Kloss, and Bill Gates gathered in Jamnagar, Gujarat, for the $128 million Hastakshar, or ‘signing ceremony’ of Radhika and Anant. The groom’s father, Mukesh Ambani, is the mastermind behind oil-to-telecoms giant Reliance Industries and is thought to be worth over $114 billion. Rhianna took a break from her new career as a beauty mogul to put on an exclusive performance at the event, hosted at the couple’s family home, where Radhika wore custom Versace.

Over 1,500 guests attended the 750-acre compound. But, Merchant told Vogue , ‘many of their close friends’ were ‘unable to make it’ to the March celebration, hence their decision to throw a second get together in Europe last month.

The party kicked off in Palermo, with a welcome dinner under the Sicilian sun before guests boarded the luxury cruise ship. It would be a few hours before the evening’s entertainment struck up – not that the high-society shipmates would want for amusement in the mean time. Celebrity Ascent boasts 32 restaurants , an upper deck garden, countless pools, a casino, a spa, and a rather large theatre .

Katy Perry performed for the happy couple

For the first evening, guests were treated to a ‘starry-night-themed formal party,’ says Vogue. Starry indeed: the Backstreet boys serenaded the happy couple and their 1000 close friends. The soon-to-be bride wore a romantic custom gown, with a love letter from her finacé stitched into the fabric. ‘I want to be able to show it to my kids and grandkids,’ said Radhika of the dress, ‘I want to be able to show it to my kids and grandkids, and say that this is what our love was.’

The next day was spent in Rome, with guests like Bollywood stars Shanaya Kapoor, Ananya Panday, and Suhana Khan taking the chance to disembark and take in the sites of the ancient city. Another night, another party: this time a toga-themed ball on the ship’s deck, with music provided by French DJ David Guetta.

In her first Tatler column, originally published on 13 June, Cleo Watson reflected on an emotional start to the campaigning

For day three, the couple sailed to Cannes for a masquerade ball in the Palladian environs of Château de la Croix des Gardes, which played host to Carey Grant and Grace Kelly in Alfred Hitchcock’s romantic thriller To Catch a Thief . In another touching fashion choice, Radhika wore a Lorraine Schwartz necklace encrusted with her and Anant’s shared birthstone – diamond, of course.

Under a sky covered with a stunning fireworks display (and aptly soundtracked by a performance from Katy Perry) the partygoers spent the evening in the lap of luxury on the French Riviera, before returning to the boat to dance the night away with Pitbull.

Fireworks over Cannes

And to round things off in style ? The couple enlisted event planner Vincenzo Dascanio to hire out the main square of Portofino and create an exclusive open-air market. The pre-wedding party culminated with a rendition of “Can’t Help Falling in Love” from Italian tenor Andrea Bocelli. Who could!

The Ambani family has ties with the UK on several fronts. Firstly, 2019 saw Mukesh Ambani purchase the stalwart of the British high street,  Hamleys,  for an undisclosed sum. The Ambanis also own the grand Stoke Park in  Buckinghamshire , which was reportedly bought for a grand sum of £57 million. The spectacular Georgian pile is a remarkable feat of British design, from the Capability Brown parklands to the James Wyatt architecture. The family home was turned into an English country club in 1908, where its members included Prince Albert. The  property  is a stone’s throw from  Windsor  and Cliveden, firmly placing the Ambanis in the centre of British countryside society life.

Asia’s richest man, Mukesh Ambani, has chartered one of the world’s largest cruise ships for the second pre-wedding bash of his son Anant. As long as an aircraft carrier, the ship has a capacity of 3,200 passengers but will only carry 600 guests on a four-day cruise in the south of France.

Celebrity Ascent: Where luxury is the environment

The venue, a pièce de résistance—Celebrity Ascent, was built in 2023 and is part of Celebrity Cruises’ Edge-class ships. It is equipped to accommodate nearly 4,000 guests serviced by a crew of 1,400. With the richest people partying aboard, it is obvious they would occupy the best suites and staterooms, such as AquaClass SkySuites and the Iconic Suite, offering access to the ship’s Thermal Spa and its own clean-cuisine restaurant Blu.

You may also like

While her father-in-law, Mukesh Ambani, who is Asia’s richest person with a net worth of $114 billion, wears a simple $8,500 Rolex, Radhika Merchant dons an incredible $164,000 Vacheron Constantin timepiece that is studded with 1,345 diamonds.

The largest yacht at the Monaco Grand Prix is the 624-foot-long Ritz-Carlton Evrima. The luxury cruise, featuring opulent $100,000 suites with private terraces, offers well-heeled travelers an unrivaled vantage point for the Grand Prix experience.

World’s most luxurious inland cruise ship Yangtze River Golden No.1 makes maiden voyage

Nita, the wife of Asia’s richest man, Mukesh Ambani, bedazzled onlookers by casually wearing a $25 million armlet that once belonged to a Mughal emperor.

Crystal Cruise’s microbrew-themed voyage will sail with the most expensive beer onboard

Quantum of the seas – Luxury like never before on the high seas

This upcoming cruise ship will be solely focused on fitness and will have an entire deck for sports and exercise

While her son wore a $4.6 million watch and impressed Mark Zuckerberg, Nita, the wife of Asia’s richest man Mukesh Ambani, stunned the world with her $7.5 million emerald necklace at her son’s pre-wedding festivities. The necklace with 863 carat emeralds took 3 years to make.

Isha, the daughter of Asia’s richest man Mukesh Ambani, sold her palatial LA home to Jennifer Lopez and Ben Affleck for $61 million. Spread across 5.2 acres the 24 bedroom mansion has a massive infinity pool, a movie theater, a pickleball court, a spa and even a boxing ring.

How Much Does Nita Ambani Earn? Check Out Salary Of Mukesh Ambani's Wife

Aug 20, 2024

About Nita Ambani

Nita Ambani is the Chairperson and Founder of the Reliance Foundation, Dhirubhai Ambani International School and a Director of Reliance Industries.

Credit: PTI

Nita Ambani Re-elected IOC Member

Nita Ambani was recently unanimously re-elected as International Olympic Committee member from India.

Nita Ambani's Role At Reliance Industries

Nita Ambani was a non-executive director on the company's board till August 28,2023.

Nita Ambani's Salary

Nita Ambani earned Rs 2 lakh as a sitting fee and another Rs 97 lakh commission for 2023-24.

Mukesh Ambani's Net Worth

Mukesh Ambani is the 11th richest person in the world With a net worth of USD 109 billion.

Mukesh Ambani's Salary

As per the latest annual report of the company, Mukesh Ambani got nil as allowances, salary, perquisites and retiral benefits in 2023-24.

Isha, Anant and Akash Ambani's Salary

Mukesh Ambani's three children- Isha, Anant and Akash Ambani received Rs 97 lakh in commission and Rs 4 lakh each in sitting fees when they were appointed to the board in October of last year at nil salary.

You may also like

Ambani's stake in reliance.

Mukesh Ambani and his family own 50.33 per cent stake or 332.27 crore shares in Reliance. With this investment, he and his family would have received dividend income of Rs 3,322.7 crore for 2023–2024 (the company had announced a dividend of Rs 10 per share).

Thanks For Reading!

Next: Orient Technologies IPO Opens Tomorrow: Check Latest GMP, Price Band, And Other Details

See more stories

• Latest Earnings
• Equities Stock Analysis Stock Movers Deals Gainers And Losers
• Technology Artificial Intelligence
• Web Stories
• Benzinga Inspire

Mukesh Ambani's Daughter, Isha Ambani-Led Reliance Retail Loses This British Footwear Brand

Reliance Retail , a subsidiary of Mukesh Ambani's Reliance Industries (RIL), and British footwear brand Clarks , have ended their joint venture. Reliance Retail is led by Isha Ambani , the daughter of India's richest person, Mukesh Ambani.

What Happened : Reliance Retail and U.K.-based footwear brand Clarks have terminated their joint venture, which began two years ago, reported The Economic Times.

Sources cited differences over the partnership’s terms as the reason for the split.

Clarks has started closing its stores across India, with its outlets in Inorbit Malls and DLF Malls having been shut down already.

The brand, which had over 30 stores in cities like Mumbai, Delhi, Bengaluru, Kolkata, and Hyderabad at one point, is gradually reducing its presence in the country.

Reliance Retail has been a preferred partner for many global brands entering the Indian market, thanks to its extensive resources and local expertise. 

Clarks, however, has a longer history in India, initially partnering with Future Group in 2011. Following Future Retail’s bankruptcy, the brand transitioned to a partnership with Reliance Retail.

It remains uncertain whether Clarks will seek a new partner in India or operate through a fully-owned subsidiary. This comes at a time when several global brands are expanding their footprint in the Indian market.

See Also: Yes Banks Outlook Upgraded To Positive By India Ratings

Why It Matters: The dissolution of the joint venture between Reliance Retail and Clarks comes at a crucial time for the Indian retail sector.

Recently, Reliance Retail has been making significant strides, including plans to reintroduce the Chinese fast-fashion brand Shein into India, four years after it was banned.

This move is expected to bolster Reliance’s portfolio and attract a younger demographic.

Moreover, Reliance Retail has achieved a milestone by surpassing the combined market valuation of India’s top consumer giants, such as ITC and Hindustan Unilever Ltd. (HUL).

According to a report by ICICI Securities, Reliance Retail's valuation has soared to approximately ₹9.17 lakh crore, making it a dominant player in the retail market.

In addition, Reliance Retail has been testing a one-hour delivery service in Mumbai and Navi Mumbai, marking a significant development in the quick commerce sector.

This initiative, integrated into the JioMart mobile app, aims to cut delivery times to 30-45 minutes as the operation scales up.

Read Next: Nothing CEO Carl Pei Is Bullish On India, Decided To Apply For An Aadhaar Card Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel .

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

• Reliance Home Finance Share Price
• Aptus Value Housing Finance India Share Price
• Aavas Financiers Share Price
• Sammaan Capital Share Price
• Can Fin Homes Share Price

The Economic Times daily newspaper is available online now.

Sebi bans anil ambani, 24 other entities from securities market for 5 years.

SEBI Ban Anil Ambani: Anil Ambani and 24 entities, including former officials of Reliance Home Finance, are barred by Sebi from the securities market for five years for fund diversion. Sebi imposed a Rs 25 crore penalty on Ambani and restricted him from participating in the market. Reliance Home Finance was also fined Rs 6 lakh and barred for six months.

Read More News on

(What's moving Sensex and Nifty Track latest market news , stock tips , Budget 2024 and expert advice , on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today .

Top Trending Stocks: SBI Share Price , Axis Bank Share Price , HDFC Bank Share Price , Infosys Share Price , Wipro Share Price , NTPC Share Price

Shein is back in India. Will this dim away Zara, H&M and Urbanic’s lustre?

Right call or wrong? Factors that will decide investor return from Bharti’s BT deal

Four critical reasons why India is rethinking its approach to China

Neeraj Chopra, Manu Bhaker and Vinesh Phogat reach a new high in brand sponsorships. Will it sustain?

As economic growth worries MPC members, should RBI err on the side of inflation?

Meals to movies: Zomato spices up menu with acquisition of Paytm’s ticketing biz

Find this comment offensive?

Choose your reason below and click on the Report button. This will alert our moderators to take action

Reason for reporting:

Your Reason has been Reported to the admin.

To post this comment you must

Log In/Connect with:

Fill in your details:

Will be displayed

Will not be displayed

Share this Comment:

Uh-oh this is an exclusive story available for selected readers only..

Worry not. You’re just a step away.

Prime Account Detected!

It seems like you're already an ETPrime member with

Login using your ET Prime credentials to enjoy all member benefits

Log out of your current logged-in account and log in again using your ET Prime credentials to enjoy all member benefits.

To read full story, subscribe to ET Prime

₹34 per week

Billed annually at ₹2499 ₹1749

Super Saver Sale - Flat 30% Off

On ET Prime Membership

Unlock this story and enjoy all members-only benefits.

Offer Exclusively For You

Save up to Rs. 700/-

ON ET PRIME MEMBERSHIP

Get 1 Year Free

With 1 and 2-Year ET prime membership

Get Flat 40% Off

Then ₹ 1749 for 1 year

ET Prime at ₹ 49 for 1 month

Freedom Offer

Get flat 20% off on ETPrime

90 Days Prime access worth Rs999 unlocked for you

Exclusive Economic Times Stories, Editorials & Expert opinion across 20+ sectors

Stock analysis. Market Research. Industry Trends on 4000+ Stocks

​Get 1 Year Complimentary Subscription of TOI+ worth Rs.799/-​

Stories you might be interested in