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Ambani’s Plan To Upend Indian Finance Lands With A Thud

A new partnership with BlackRock combines insurance, lending and stock trading into a single offering, but details remain scarce.

Mukesh Ambani Illustration: Jasjyot Singh Hans for Bloomberg Businessweek
Mukesh Ambani Illustration: Jasjyot Singh Hans for Bloomberg Businessweek
(Bloomberg Businessweek) -- Once a year, Mukesh Ambani—the publicity-shy Indian tycoon who’s Asia’s richest man—makes a widely anticipated speech to shareholders of his conglomerate, Reliance Industries Ltd. He typically serves up grand announcements, and A-list guests such as Satya Nadella and Sundar Pichai often make cameos. This year’s version landed with something of a thud.
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