Mukesh Ambani optimistic about the battle against corruption

Posted By: Biswajeet Panda
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Mukesh Ambani
New Delhi, Jun 14: India might be in the midst of its most important movement since independence, but the country's richest man, Mukesh Ambani is optimistic that things are heading in the right direction.

Ambani, who heads the Reliance Industries Limited, has in an interview to Morgan Stanley, said, "I do not agree that things have turned grim for India. We should not really deprecate ourselves. We have started on the journey of systemic reforms to reduce corruption."

Interestingly, his company has been indicted in the Comptroller and Auditor General of India's report as being unduly favoured by the Union Minster of Oil Resources.

The Chairman of RIL, also gave an insight into his company's future plans and said that the role of the government in deals should be that of a referee and not a player.

Stating that there is a need for disruptive policies from the government, the RIL Chairman said, "As we go ahead, the government has to be more of an umpire or the tournament organiser as opposed to getting involved in the game."

Earlier, in a draft report awaiting comments by the oil ministry, Comptroller and Auditor General of India had said that the oil ministry and its regulatory arm for oil hunting companies, Directorate General of Hydrocarbons, showed undue favour to at least three private explorers.

The draft report, said that Mukesh Ambani owned Reliance Industries Limited (RIL) was allowed to violate terms of the contract with the government for Andhra offshore fields.

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