Opinion: Ambani, a maverick Rockefeller

MUMBAI: It all comes back to one person. Mukesh Ambani, India’s richest man, is emerging as a modern John D. Rockefeller. The American industrialist amassed huge wealth and power through the rail-and-energy cartel he built in the 19th century. Standard Oil was eventually broken up, giving birth to U.S. antitrust law. For Ambani, data is the new oil. His $185 billion Reliance Industries already comprises India’s largest telephone operator, Jio, plus the country’s biggest retailer. And with the backing of America’s own technology monopolists, he will be able to accumulate power until he’s told to stop.

A well-heeled Indian consumer can pass a day spending heavily with Reliance. Eat breakfast while catching up on the news on CNBC TV18, CNN News18, and Forbes India, via Jio apps on a JioPhone on the Jio mobile network. Connect with an aunt on Zoom-like JioMeet and buy movie tickets on Reliance-backed BookMyShow through a JioFiber broadband connection. Head to the shops, pop into Hamleys to buy a toy gift or into Trends for some fast fashion. Drop by Reliance Smart for groceries. Fill up the car at the Reliance petrol pump. Back home, place an online order for cupboard basics on JioMart and settle in for an evening of cricket, cheering on the Reliance-owned Mumbai Indians.