The Ideal Beginning

It all started when Dhirubhai started his own individual business, after ending partnership with Mr.Damani, his second cousin in 1965. Dhirubhai was known for his risk taking ability and his belief was in building inventories, anticipating a price rise and making profits.In 1966, sensing good business opportunities he setup Reliance Textiles, his first textile mill at Naroda, Ahemdabad. A brand, named Vimal was started by Dhirubhai, which was named after his elder brothers son. It was such a success that it became a famous household name in India. Franchises were distributed and famous retail outlets would sell only Vimal brand of textiles. In 1975, Reliance Textiles manufacturing unit was visited by a technical team from the World Bank and was certified as excellent even by developed country standards during that period. By the late 1970s, Dhirubhai had a net worth of an estimated Rs.10 lakh.Not only was his textile business a great success, but also his idea of starting equity cult in India. Dhirubhai convinced a large number of investors from rural Gujarat to invest in his company and assured them that being shareholders of his company would be profitable. Reliance Companies was a private sector company and its Annual meetings were held in large stadiums. By the early 1980s Dhirubhai Ambani s net worth was estimated at about 1 billion.