Hamish McDonald - Mahabharata in Polyester: The Making of the Worlds Richest Brothers and Their Feud

The Ambani story grabbed me as soon as I landed in India in December 1990 for what turned out to be an enthralling six years, and it still has me in its grip, long after my assignment in New Delhi ended. Dhirubhai Ambani embodied all of the revolutionary capitalism that sympathetic and impatient analysts within the prevailing Western paradigm believed was lurking inside the Indian economy, pressing to be released from bureaucracy. The turbulent election of 1991 resulted in a government that set about unleashing this spirit across the economy. To me, this was the crucial narrative of modern India, behind the more immediate news-making events like caste conflict, Hindu nationalism, Islamist movements, and insurgencies in Kashmir, Punjab and the north-east. Ambani had already pushed out of the subservient position reserved for business, to the point where he had a well-earned reputation as a maker and breaker of governments, and of political and bureaucratic careers. With the economic reforms giving greater access to domestic and global sources of finance, his Reliance group redoubled its rapid growth towards Ambanis target of becoming a petroleum giant. My position reporting for a leading business magazine gave me a ringside seat and, initially at least, personal acquaintance with Ambani and his two sons. Inevitably, the glowing picture of an entrepreneurial hero, so beloved of business magazines, took on more light and shade with detailed study of the Ambani and Reliance story. Still, the relationship of government and big business emerged increasingly as the missing element of popular and academic writing about contemporary India. This book is the result.

It started with a push from Robin Jeffrey, then of La Trobe University, Melbourne, aided by Marika Vicziany of the National Centre for South Asian Studies, Jenny McGregor of Melbourne Universitys AsiaLink, and the late Ken McPherson of Curtin Universitys Indian Ocean Centre, for putting together an ad hoc fellowship to let me start work. Later, Rodney Tiffin and Jim Masselos of the University of Sydney helped with working space and advice. Navnit Dholakia gave me vital introductions to the Gujarati immigrant communities in London and Leicester. D.B. Patel, of Leicesters Shree Sanatan Mandir, took time out to guide me. Himatbhai Jagani, secretary of Shree Aden Depala in London, welcomed me to this association of former Indian residents of Aden. Other help came from K.D. Patel, C.B. Patel of the Gujarat Samachar, and Ramniklal Solanki of the Garavi Gujarat. In Ahmedabad, Susheel Kothari, formerly of Besse & Co. in Aden, then Reliance, was both hospitable and informative.

In Mumbai, there are many to thank: Manish Mankad, librarian of BusinessIndia , S.J. Vasani of Vyapar, Kirtikant K. Kapadia and Kishanbhai Kapadia, of the Swastik Textile Agency, who gave me tea when I walked in off the street and told me about the Pydhonie textile market; Sucheta Dalal and Debashis Basu, now running MoneyLife ; Pradip Shah; Kanti Bhatt and Sheela Bhatt. In Manipal, Ramdas M. Pai of Manipal Academy of Higher Education. In New Delhi, my thanks to S.R. Mohnot. In Chennai, L. Seshan of the Indian Express helped with records of the Gurumurthy investigations. Many other businessmen, members of parliament, lawyers, stockbrokers, merchant bankers, government officials and journalists gave freely of their knowledge about the Ambani story, but would not want to be identified. However, Jamnadas Moorjani, who died in December 2002, can now be mentioned as a wonderful source of information and fair opinion.

Although neither the Ambani family nor Reliance cooperated in this project, the Reliance spokesmen who were my points of contact in earlier times Yogesh Desai, Tony Jesudason, Jacob John and Deepak Neogi were always accessible and courteous. When letters from law firms in both Mumbai and Sydney, and court injunctions in India, made it clear that Reliance was opposed to my earlier book The Polyester Prince appearing at all, Patrick Gallagher of Allen & Unwin courageously stuck to his publishing plans.

This was not the closing of the book, however, just of a chapter. Dhirubhai Ambani went on to achieve his vision of opening one of the worlds biggest oil refineries. Every recovery from previous controversies and scandals had been followed by predictions that his company would become a more normal and predictable corporation taking fewer risks. Yet it became clear that pushing the limits was normal for him. Dhirubhais sons inherited control of Reliance and his modus operandi on his death in 2002, but two years later started the bitter feud that divided Indias biggest business house. My holidays in India soon turned into research trips for this new book, which has been encouraged by numerous Indians, from India itself and from the diaspora in America, Europe, Asia and Australia, who have contacted me.

Engagement with India is not something that can be turned off by absence. With me, in this lifelong entrancement, has been my wife Penny and our children Alex and Laura, who were born in New Delhi as the first book took shape and for whom India is mother nation. I can only give thanks that they rejoice in India too.