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The Rainmaker Behind Mukesh Ambani’s $13 Billion Deal Spree.

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Reserved and mostly invisible to the public, Modi is viewed by many insiders and others in India’s business world as the right hand of billionaire Mukesh Ambani.

He has no flashy titles and few outside India know his name. But in the halls of Reliance Industries Ltd., Manoj Modi has quietly become one of the most powerful forces behind the corporate empire of Asia’s richest man.

Reserved and mostly invisible to the public, Modi is viewed by many insiders and others in India’s business world as the right hand of billionaire Mukesh Ambani. He played a key role during negotiations for a $5.7 billion deal with Facebook Inc. in April, backing Ambani and his children as they hashed out an agreement with the social networking giant, people familiar with the matter said.

As Ambani, 63, shifts his sprawling conglomerate’s focus from petrochemicals to internet technologies, Modi is seen as a particularly influential voice. Facebook’s investment in the group’s Jio Platforms was followed by similar deals from a slew of private-equity funds, injecting $13 billion into the business and placing it firmly on Silicon Valley’s radar.

The sixty-something, diminutive Modi — who isn’t related to India’s Prime Minister Narendra Modi — rarely gives interviews and there’s little in the public realm about his private life. Yet he illustrates how lesser known personalities in India with long-running ties to corporate dynasties can have an out sized impact.

“It’s not a company that advertises its organizational structure but the industry knows that Ambani and Modi are a strongly-bonded team — and together drive deal negotiation and relentless execution to the last level of detail,” said Vani Kola, managing director of venture capital firm, Kalaari Capital Partners, who persuaded Modi to make a rare public appearance at a conference last year, albeit by video.

Modi is a director at Reliance Retail Ltd. and the group’s telecom carrier Reliance Jio Infocomm Ltd. At Kola’s conference, he downplayed his skills. “I don’t really negotiate,” Modi said. “I don’t understand strategy,” he went on. “In fact, people internally know that I don’t even have a vision.” He described his role, saying, “I deal with our internal people, coaching them, mentoring them and guiding them on how something can be done.”

But then came a hint of his thinking: “Our principle at Reliance is very simple: Unless everyone makes money while working with us, you cannot have a sustainable business.”

In interviews, more than half-a-dozen executives in the technology industry, who have had dealings with Reliance, said Modi has a reputation for driving hard bargains. When dealing with startups, he often controls negotiations from behind the scenes by instructing executives how far to push, making an appearance nearing deal fruition, they said

Business

Apple is giving a huge discount on its gadgets: Details inside

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If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

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