Rivals Turn Allies: Ambani-Adani Deal.!
Traditionally seen as rivals, mukesh ambani and gautam adani have competed fiercely to secure top positions in the list of Asia's richest individuals. While mukesh Ambani's reliance Industries is involved in diverse sectors like oil and gas, retail, and telecom, adani Group, led by gautam adani, focuses on infrastructure, including ports, airports, coal, and mining. However, both companies have ventured into green energy, leading to direct competition.
The adani Group aims to become the world's largest renewable energy producer by 2030, while reliance is investing in four gigafactories in gujarat for solar panels, batteries, green hydrogen, and fuel cells. Similarly, adani Group is establishing three gigafactories for solar modules, wind turbines, and hydrogen electrolyzers.
Despite their rivalry, there have been instances of cooperation between the two groups. For example, in 2022, a company associated with Ambani sold its stake in NDTV to the adani Group, facilitating the latter's acquisition of NDTV. Moreover, gautam adani recently attended functions preceding the marriage of mukesh Ambani's son, indicating a cordial relationship between the two industrialists.
This collaboration between reliance Industries and adani Power signifies a significant shift in the dynamics of India's business landscape and highlights the potential for cooperation even among competitors in pursuit of common goals.