Mukesh Ambani in Telecom Sector

Mukesh Ambani in Telecom Sector

Mukesh Ambani is the chairman of Reliance Industries, India’s largest private sector textile and petrochemical conglomerate. He is India’s richest person having net worth of US $ 29 Billion according to Forbes 2010.

Those who don’t know about his early life, let me tell you that during the time of Dhirubhai Ambani, Reliance Communication was mainly managed and launched by Mukesh Ambani only. In fact, Mukesh Ambani worked very hard behind R-Comm and later on after the death of his father, when the family empire split among two brothers, the Reliance Communication went in the hands of his younger brother Anil Ambani.

In June 2010, Mukesh Ambani has announced that, He is again coming back in the telecom sector.

He said that,

"We are faced with a much larger opportunity in broadband today than we were with voice in 2001...the possibilities are limitless," Ambani said, addressing the annual general meeting of Reliance Industries Limited here.

Mukesh Ambani had nurtured R-Comm for full three years which went in the hands of brother in 2005.

Sources also said that Mukesh is talking to new licence holders including Videocon, which has pan-India licence and is looking for a partner to bring in capital to roll out services.

In fact, in June 2010, Mukesh Ambani run Reliance Industries bought 95% Stake in Infotel for Rs.4,800 crores. Infotel is the only player who won the Pan India licence for wireless broadband services.

Right now,the broadband penetration in India is less than 1% and in early 2011, the company is planning to launch WiMax services all over india.

Thus, by buying Infotel, Mukesh Ambani is again back in the telecomm sector to compete his younger brother’s Reliance Communications.