__The_Polyester_Prince__The_Rise_of_Dhirubhai_Ambani

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1、NTRODUCTION:ANINVITATIONTOBOMBAYTheenvelopewashand-deliveredtoourhouseinGolfLinks,TanenclaveinNewDelhiwhosenamecapturedtheclubbablelifestyleofitsleisuredandpropertiedIndianresi-dents,soonafterwehadarrivedinthemiddleofanorthIndianwintertobeginalongassi

2、gnment.Itcontainedalargecard,withapictureembossedinredandgoldoftheelephant-headeddeityGanesh,improbablycarriedonthebackofamuchsmallermouse.DhirubhaiandKokilabenAmbaniinvitedustotheweddingoftheirsonAniltoTinaMuniminBombay.InJanuary1991,justpriortotheex

3、plosionincarownershipthatinlaterwinterskeptthemiddaywarmthtrappedinathroat-tearinghazeovernight,itwasbitterlycoldmostofthetimeinDelhi.Ourfurniturehadstillnotarrived-adayofnegotiationsaboutthedutypayablelayaheadattheDelhicustomsofficewherethecontainerw

4、asbrokenopenandinspected-andwecampedonofficechairsandfold-upbeds,wrappedinblan-kets.TheIndianstorywasalsoinastateofsuspension,waitingforsomethingtohappen.TheGulfWar,whichwewatchedatabighotelonthisnewthingcalledsatellitetelevi-sion,wasunder-cuttingmany

5、oftheassumptionsonwhichtheCongressParty’sfamilydynasty,theNehrusandGandhis,hadbuiltuptheIndianstate.TheAmericanswereunleashinganewgenerationofweap-onsonaThirdWorldregimetowhichNewDelhihadbeenclose;itsSovietfriendswerestandingby,evenagreeingwiththeAmer

6、icans.TheIraqiinvasionofKuwalthadpushedupoilpricesandforcedtheIndianGovernmenttoevacuatesomethreemillionofitscitizensworkingintheGulf.Theextrahalf-billiondollarsallthiscostIndiawaspushingthecountryclosetodefaultonitsforeigndebt.OfficialsfromtheMinistr

7、yofFinancewerealreadynegotiatingabail-outfromtheIMFinWashington;theIMFwassettingstiff‘conditionalities’-ineffectacompleteshiftfromNehru’smodelofhighexternalprotectionfortheeconomyandgovernmentallocationofsavings.EventheCNNclipsofTomahawkcruisemissiles

8、zippingneatlydownthestreetsofBaghdadwereinthemselvespartofanotherbreachinIndia’swalls.ThecliteswhoranthenationalTVmonopolyorthebignewspapersnolongerhadIndia’shalf-illiteratepopulationtothemselves.LittleofthiswasadmittedinNewDelhi.Thecoalitiong