The Wadia group faded with Dhrubhai’s rise
Their battle is the stuff of corporate legend. It all started in 1981 when Nusli Wadia, after gaining the license to build the Di-methyl terephthalate (DMT) plant, found Dhirubhai Ambani in the way for the first time. The latter, as we all know symbolised the aggressive new India, ready to break age old barriers and cover new ground. The Wadia Group, founded in 1879, was symbolic of colonial India. Dhirubhai moved from strength to strength in the textile business, shaking the stalwarts to their very roots. The Wadias accused Ambanis vehemently of breaking the laws and tried every trick in the book to stall his rise. In no time, the war took an ugly turn. Ramnath Goenka, initially a negotiator for both parties, decided to support Wadia. The battle went on till Ambani suffered a stroke in 1990. Ambani’s detractors in business, media and political circles tried what they could to stop him. But the Reliance Group was destined to tide over all the barriers that came before it. The group’s forward and backward integration strategy left the Wadias miles behind.
Their battle is the stuff of corporate legend. It all started in 1981 when Nusli Wadia, after gaining the license to build the Di-methyl terephthalate (DMT) plant, found Dhirubhai Ambani in the way for the first time. The latter, as we all know symbolised the aggressive new India, ready to break age old barriers and cover new ground. The Wadia Group, founded in 1879, was symbolic of colonial India. Dhirubhai moved from strength to strength in the textile business, shaking the stalwarts to their very roots. The Wadias accused Ambanis vehemently of breaking the laws and tried every trick in the book to stall his rise. In no time, the war took an ugly turn. Ramnath Goenka, initially a negotiator for both parties, decided to support Wadia. The battle went on till Ambani suffered a stroke in 1990. Ambani’s detractors in business, media and political circles tried what they could to stop him. But the Reliance Group was destined to tide over all the barriers that came before it. The group’s forward and backward integration strategy left the Wadias miles behind.
Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).
and Arindam Chaudhuri (Renowned Management Guru and Economist).
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