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DONEThe Indian economy is the fourth largest economy of the world as measured by purchasing

power parity (PPP). India has a diverse economy. The Indian economy includesagriculture, handicrafts, textile, manufacturing, and a large number of services. Althoughtwo-thirds of the Indians still earn their livelihood directly or indirectly through agriculture

but the service sector is growing rapidly, playing an important role in the growth of India'seconomy.

Since the early 1990s, reduction of government control on foreign trade and investment has brought in economic reform giving rise to new global markets for investment. The publiclyowned industries have been privatized and various areas of private and foreign interestshave come up to the forefront. The upcoming industries and big business houses not only

bring financial growth to the country but also help to promote the social, educational andcultural development of the nation.

Dhirajlal Hirachand Ambani was born on 28 December 1932, at Chorwad, Junagadh inGujarat, When he was 16 years old, he moved to Aden,Yemen. Initially, Dhirubhai workedas a dispatch clerk with A. Besse & Co. Married to Kokilaben. Dhirubhai also worked inDubai for sometime. He returned to India and founded the Reliance CommercialCorporation with an initial capital of Rs 15000. Dhirubhai set up the business in

partnership with Champaklal Damani from whom he parted ways in 1965.

Dhirubhai started his first textile mill at Naroda, near Ahmedabad in 1966 and started the brand "Vimal". Dhirubhai Ambani is credited with having started the equity cult in India.

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With the passage of time, Dhirubhai diversified into petrochemicals and sectors liketelecommunications, information technology, energy, power, retail, textiles, infrastructureservices, capital markets, and logistics.

Dhirubhai courted controversy all throughout his life. Many a times, he has been accused

of unethical business practices and has been accused of having manipulated government policies to suit his own needs. He was involved in an open spat with Nusli Wadia of Bombay Dyeing. The end to this tussle came only after Dhirubhai Ambani suffered astroke. While Dhirubhai Ambani was recovering in San Diego, his sons Mukesh Ambaniand Anil Ambani managed the affairs. The Indian Express had turned the guns againstReliance and was directly blaming the government for not doing enough to penalizeReliance Industries. The battle between Wadia - Goenka and the Ambanis took a newdirection and became a national crisis. Gurumurthy and another journalist, Mulgaokar consorted with President Giani Zail Singh and ghost-wrote a hostile letter to the PrimeMinister on his behalf. The Indian Express published a draft of the President's letter as ascoop, not realizing that Zail Singh had made changes to the letter before sending it to

Rajiv Gandhi. Ambani had won the battle at this point. Now, while the tussle was directly between the Prime Minister Rajiv Gandhi and Ramnath Goenka, Ambani made a quiet exit.The government then raided the Express guest house in Delhi 's Sunder Nagar and found theoriginal draft with corrections in Mulgaokar's handwriting. By 1988-89, Rajiv'sgovernment retaliated with a series of prosecutions against the Indian Express. Even then,Goenka retained his iconic stature because, to many people, he seemed to be replaying hisheroic defiance during the Emergency regime.

Dhirubhai Ambani won many words and accolades during his life. In November 2000, hewas conferred the 'Man of the Century' award by Chemtech Foundation and ChemicalEngineering World for his contribution to the growth and development of the chemicalindustry in India. In June 1998, he was awarded the Dean's Medal by The Wharton School,University of Pennsylvania, for setting an outstanding example of leadership. DhirubhaiAmbani was also named the "Man of 20th Century" by the Federation of Indian Chambersof Commerce and Industry (FICCI).

Dhirubhai Ambani suffered a "brain stroke: on June 24, 2002 and was admitted to theBreach Candy Hospital in Mumbai . He had suffered another stroke in February 1986 whichhad paralyzed his right hand. He passed away on July 6, 2002. On Dhirubhai Ambani's firstdeath anniversary, the Union Government released a postage stamp in his memory.

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