How is that the richest industrialists do whatever they want?Anil Ambani is the poster boy of all that is rotten with rogue industrialists in India. He started dabbling in a huge number of businesses. He never ever had any focus and the open spat with his brother, the cunning Mukesk Ambani, did him no good.
That the latter has also accumulated huge debts after he made Jio the game changer in the cell phone industry, literally driving the entire industry into the red, is worrisome. God only knows if his strategies will become fine. The Rs1500 cell phone from Jio is a clumsy attempt at attracting the lowest middle class and the rock bottom people as well, with Rs49 packages, designed to virtually kill the competition. The cell phone is useless as it can never be used for data. It's very design does not give the customers that benefit or luxury.
The Essar group, the GVK group and Jindal and JK groups all have the horrible companies making record losses. No one knows when and how the money will ever come back. The net cumulative debts of these irresponsible rogue industrialists is one lakh crore
How do we put an end to this nonsense? Should we not have a National Credit Board , made up of the best Management Consultants and economists to get every single plan of such companies running into several thousands of crores? How will we safeguard the Indian banks?
And of course, your money and our money?