Why Reliance Industries has stopped bingeing on debt
Compelled by investor concerns, India’s largest company is paring down debt to the bone
From FY01 to FY14, RIL’s net debt hovered largely between ₹10,000-50,000 crore. But in the past five years, debt had risen exponentially, largely due to Reliance Jio
Mumbai: "Blessed are the young, for they shall inherit the national debt," former US president Herbert Hoover famously said during the Great Depression, at a time when the US national debt stood at about $35 billion. Mukesh Dhirubhai Ambani, 62, the chairman and managing director (MD) at Reliance Industries Ltd (RIL), appears to be saying the opposite—blessed are the young, for they shall not inherit the RIL debt.