Why the failed Aramco deal’s good for Ambani and three cheers for telecoms tariff hike

Two years on, Reliance calls off a deal for its O2C business and two out of three private telecoms players finally increase tariffs.

Furquan here. Gautam Adani is now the richest Indian, and not Mukesh Ambani. It's still an open race as these two billionaires bet on new sectors to drive growth in the coming years. Ambani is surely not betting on his oil-to-chemicals business, as reflected in the deal with Aramco being called off. Equally interesting was the tariff hike by telecom companies. It's good news, not just for them but for banks and investors too. Read on.

Reliance-Aramco deal was long dead

When Mukesh Ambani – on 24 June 2021 – made public his plans to go carbon neutral by 2035, …

Author

T Surendar

Surendar helps lead the newsroom at The Morning Context as executive editor. Over the years, Surendar has worked in industries from pharmaceuticals to diamonds, as well as a stint as an equity analyst. In his long career as a business journalist, he has led teams at The Times of India, India Today and Fortune India. He was part of the founding team at Forbes India and interned at and published in The Times, London.

Executive Editor

surendar@mailtmc.com

Mumbai

Author

Furquan Moharkan

Furquan leads the banking coverage at The Morning Context. A business journalist with eight years of experience and a best-selling author, in his earlier stints as a reporter with the Deccan Herald and a columnist at The Banker, he wrote on banking, financial markets and regulatory affairs. He has extensively covered India's debt market crisis, banking crisis and the fall of Yes Bank.

Editor, Banking

furquan@mailtmc.com

Delhi