Thursday, September 25, 2008

Paragraphs worth of 10,000 Crores

Read this story of Gujarat Samachar

and now the original story of New York Times which has created the issue worth of 10,000 crores !

What most distinguishes Reliance from its rivals is what Mr. Ambani’s friends and associates describe as his “intelligence agency,” a network of lobbyists and spies in New Delhi who they say collect data about the vulnerabilities of the powerful, about the minutiae of bureaucrats’ schedules, about the activities of their competitors.

Mr. Ambani said in the interview that all such activities were overseen by his brother before they split, and had since been expunged from his tranche of the company. “We de-merged all of that,” he says, breaking out in a belly laugh. A spokesman for Anil Ambani declined to comment.

Nonetheless, Reliance, some observers say, still manages to stay very well informed. “Their intelligence on government is very strong,” Mr. Talwar says. “If a meeting were to be held and the subject was affecting their business, they would know about it.”

Critics say Reliance has been especially effective at managing the press. Both former Reliance executives, who requested anonymity for fear of angering Mr. Ambani, say the company has actively curried favor with journalists to help it track the progress of negative articles. A prominent Indian editor, formerly of The Times of India, who requested anonymity because of concerns about upsetting Mr. Ambani, says Reliance maintains good relationships with newspaper owners; editors, in turn, fear investigating it too closely.

“I don’t think anyone else comes close to it,” the editor said of Reliance’s sway. “I don’t think anyone is able to work the system as they can.”

And the net result is plain: although India’s raucous news media have brought down many a powerful person and institution, Mr. Ambani and Reliance are rarely the subjects of hard-hitting Indian reporting.

Reliance disagrees, regarding itself as the target of relentless media attacks. “There is malicious and negative stuff being written all the time. So where is the influence?” the Reliance spokesman said. “Mr. Ambani has told me that he will never pick up the phone and talk to the owner of a publication to say, ‘Write positive stuff’ or, ‘Stop writing negative stuff.’ ”

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