Mukesh Ambani returns to the spotlight

It had all the hallmarks of a coming-out party—or, more accurately, a coming-out-again one. After being uncharacteristically absent from public view for a few years, Mukesh Ambani re-emerged at the end of March for the opening of the Nita Mukesh Ambani Cultural Centre in Mumbai’s new business district. It houses three theatres, a conference hall for trade shows, as well as a small museum. Plans are afoot to build an adjoining apartment complex and shopping mall. The precise cost of the project is veiled in secrecy, though the figure of $1bn has been rumoured. A single lift, said to be the world’s largest, with a capacity of 100 people, is thought to have set the tycoon back $45m.

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The sprawling and opaque endeavour is an apt metaphor for Reliance Group, the business empire that has made Mr Ambani Asia’s richest man. The conglomerate reported record profits in the…

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