Gautam Adani has three reasons to worry as Mukesh Ambani plans a 'Jio' for India's green energy spac

Sharansinghaa21 Jul, 2021News

Mukesh Ambani?s rivals should be relieved, though perhaps not too much. The petrochemicals czar has just told shareholders that he?s undertaking his life?s ?most challenging" mission by investing 750 billion rupees ($10 billion) in clean power and fuel over three years. It doesn?t appear to be a big capital commitment from India?s most powerful businessman, certainly not when he?s just raised $44 billion of capital during a pandemic, and made the $180 billion balance sheet of his flagship Reliance Industries Ltd. free of net debt.