Tag Archives: Anil Ambani

Rafale Jets: Rahul in no mood to pull his punches

Newsroom24x7 Network

New Delhi: Congress President Rahul Gandhi has decided that he would pull no punches on Rafale jets, India is buying.

Gandhi tweeted this afternoon (28 July 2018) that over the next 50 years, Indian Tax Payers will pay Rs. 100,000 Cr to “Mr 56’s friend’s JV”, to maintain 36 Rafale jets being acquired for the Indian Air Force.

The Congress President has referred to Prime Minister Narendra Modi as 56-inch chest has become synonymous with him, and Reliance Anil Dhirubhai Ambani Group Chairman Anil Ambani, without directly naming them.

For the benefit of the Twitterati, and drawing widespread attention, he calls the jets to be acquired for Indian Air Force as – #RafaleScam jets, India is buying

Stating that the Defence Minister will address a press conference to deny this, the Congress president has attached a presentation to emphasise that “the truth” is in it.

The presentation underscores that Dassault Reliance Aerospace Ltd is the Key offset partner with Dessault Aviation for 36 Rafale Aircraft worth Rs. 30000 crore. It is the largest offset contract in India.

The scope of contract covers performace based logistics for 50 years, including maintenance, repair, overhaul and upgrades.

It also projects lifecycle opportunity estimated at – Rs 1 lakh crore over 50 years.

The presentation talks of Dassault and its long history with the IAF. It especially talks of Mirage 2000, a frontline fighter aircraft, and the requirement for additional 600 fighter aircraft over next 20 years valued at Rs. 3.6 lakh crore.

Anil Ambani, in a letter he wrote to Gandhi in December 2017, had defended the selection of his JV by pointing out that Reliance Defence Limited has the largest shipyard in the private sector and also that the company was engaged in building five Naval offshore patrol vessels for the Indian Navy and 14 fast patrol vessels for the Indian Coast Guard.

Ambani also conveyed to the Congress President that the Indian Government had no role in his company’s selection as a joint venture partner as it was an independent agreement between the two companies.

Check a  Newsroom24x7, February 14, 2016 report» CLICK

Global Investors Summit 2016: Industrialists all praise for Chief Minister Shivraj Singh Chouhan

Newsroom24x7 Staff

Finance Minister Arun Jitley at Global Investors Summit at Indore on 22 November 2016.
Finance Minister Arun Jitley at Global Investors Summit at Indore on 22 November 2016.

Indore: Captains of industry, both from India and abroad, attending the inaugural session of Global Investors Summit 2016 here today appreciated Madhya Pradesh Chief Minister Shivraj Singh Chouhan’s efforts to systematically promote the growth of industry in the State.

The speakers lauded the initiative in the form of the series of investors’ summits organised by the State and described it as an honest effort for sustainable development and for generating employment for the youth, promotion of agriculture through agri-based business and industries, tourism, textile and information technology, automobile and other sectors.

22 speakers addressed the inaugural function focusing the scene prevailing earlier in Madhya Pradesh and the special efforts and decisions taken for development in the last one decade.

On this occasion, Union finance minister Arun Jaitley and Union Communication and IT minister Ravishankar Prasad embraced Chouhan when he concluded his speech. Jaitley recalled the time when he was organisation in-charge of Madhya Pradesh and faced difficulties in travelling from Bhopal to Indore by road. Jaitley also spoke of the commitment and efforts made by the Chief Minister Chouhan to ensure the State achieves all round progress.

President of Aditya Birla Group Kumar Mangalam Birla described his experience of investment in Madhya Pradesh as pleasant. ADAG Reliance Group president Anil Ambani said Madhya Pradesh is an ideal destination for investment. Sun Pharmaceutical MD Dilip Sanghvi expressed the desire to increase investment in MP. Speaking highly of the rate of economic growth of Madhya Pradesh, which is more than other states, Patanjali Ltd chief Swami Ramdev talked of investment schemes that would provide benefit to 10,000 farmers in MP. President of SR Group Shashi Ruia had a special word of praise for the industrial promotion policy of Chief Minister Chouhan

Ambani brothers aim at virtual consolidation for 4G

Newsroom24x7 Desk

4GMumbai : The two big brothers of India Inc, Mukesh Ambani and Anil Ambani, who parted business-ways and managed their coterie of group holdings in respective MDAG (Mukesh Dhirubhai Ambani Group holdings) and ADAG (Anil Dhirubhai Ambani Group holdings), have decided to come together to launch fourth-generation (4G) mobile phone services by the year-end, thereby signalling a consolidation in the fragmented Indian telecom market.

Terming it as a ‘virtual consolidation’, Reliance Group chairman Anil Ambani said at the Reliance Communications (RCom) annual general meeting that he was tying up trading and sharing of spectrum with Mukesh Ambani-led Reliance Jio (RJIO) for offering 4G services.

RCom and RJIO will work together in this venture. RCom is India’s fourth-biggest mobile phone carrier by subscribers.

The details of working pattern, as in shares and structure of holdings have not been elaborated yet. Ambani did not disclose any equity transaction at this juncture.