Asia’s two richest people ready for war! Gautam Adani took entry in Mukesh Ambani’s field

Competition is increasing between two veteran industrialists of the country, Gautam Adani and Mukesh Ambani. Adani has also entered telecom by joining the 5G auction.

At present, the Adani Group has refused to enter the consumer mobile business.

The process of auctioning 5G spectrum is on. Before the start of this auction, a name came up, after which the business world stirred up. Mukesh Ambani operates India’s largest telecom company Reliance Jio. Asia’s richest person in 5G auction gautam adani has entered. Experts say that in the coming days, there will be an interesting contest between two veteran industrialists. According to a Bloomberg report, when Mukesh Ambani was looking for options outside India to expand his telecom business to other countries, it was reported that Gautam Adani would also buy spectrum.

Gautam Adani has refused to enter the telecom sector for the time being. He does not even have a license for wireless telecommunication. However, Ambani’s advisers are not denying that Adani should enter wireless service in the coming times. It is the advice of some colleagues that Reliance Jio should look for markets for itself in other countries outside India. Some people also say that the company should raise funds for the possible challenges of the telecom business in the coming times.

Adani is the fourth richest person in the world

According to the Bloomberg Billionaires Index, Gautam Adani is the fourth richest person in the world with a net worth of $118 billion. Mukesh Ambani is at 11th position with $89.6 billion. Gautam Adani’s wealth has jumped by $ 41.8 billion so far this year and he is number one in the world in this matter. Amidst the changing situation, Mukesh Ambani has cleverly kept Jio’s business within India till now.

At present there is no Adani in consumer mobiles

Arun Kejriwal, founder of Mumbai-based investment advisory firm KRIS, said the competition between Ambani and Adani will get tougher. In the end, the winner will be the one who is most fit. On July 9, it was clearly said by the Adani Group that it would not enter the consumer mobile space. However, the market is hot that in the coming days, Adani Group should also enter the consumer mobile market.

conflict has begun

Till now Adani Group’s business was related to port, coal mining, shipping. Ambani has invested in petrochemicals. Both the stalwarts are masters of their respective sectors. Now a situation of conflict has started building between these two business houses. A few months ago, Ambani refused to sell 20 per cent of his energy business to Saudi Arabia’s Aramco. It was announced 2 years ago. Crude oil is a major contributor to Reliance’s revenue. A few days after the cancellation of this deal, news came that Adani Group is in talks with Aramco.

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Both the giants have presence in many sectors.

PM Modi’s focus is on clean and green energy. Both the groups have announced an investment of more than $ 70 billion in the coming years in this direction. Apart from this, Adani has increased focus on digital service, sports, retail, petrochemical and media business. Ambani already has a presence in all these sectors.