It all began in 1977 -- when a business-unfriendly banking system refused to loan him money for the upgradation/expansion of his textile mill at Reliance Naroda. Dhirubhai was no stranger to borrowing. 'Profit will be yours, loss is mine' was his favorite catch-phrase as he borrowed from various small-time lenders to fund his trade ventures while he was in Aden and during his early Bombay years.
He borrowed on such generous terms that people would come u and offer money to him! But Reliance Naroda required much more than small funds -- it needed a couple of crores! So in a path-breaking move, he decided to throw open his company to millions of middle-class shareholders. No amount or no investor was too small for him.
He took their money and their trust, performed phenomenally and in turn rewarded his 'bankers' as he called his shareholders, handsomely over the years.
There are many who built their homes, married off their daughters and educated their children by selling off Reliance shares. At a time when it was impossible for the common man to get a loan from the bank for expenses such as these!
This was perhaps when the first seeds of the Optimistic Indian of today were sown.
Dhirubhai Ambani with his grandson.
Photograph: Rediff.com library
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