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Seems like a fragile temp thing, since it's a commodities and infrastructure empire that seems to be bullish based on being close to Modi admin political agenda. Kinda like Dhirubai Ambani during Indira admin.
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We need a word for the Indian-style conglomerate. It has qualities distinct from the Keiretsu and Chaebol models of Japan and Korea. Ambani, Birla, Mittal, now Adani... the Tatas are slightly different, but in the same group if you draw the boundary more broadly.
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Feels like the age of post-tech wealth is here though. Commodities, renewables... all the messy, gritty shit that will be increasingly important as the world gets hotter and more violent.
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Indian-style conglomerates are in this no-man's land between being willing to do the low-margin but crucial large-scale manufacturing work that their Japanese, Koreans, Chinese, and now Vietnamese counterparts have done, and being able to do high-value R&D like the west.
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Ambani has a Reliable and long lasting Cash cow that is their Petrochemical business. Tata have a very long legacy but it's more Bureaucratic power than actual ownership which is very little. Ratan Tata is worth just 1 billion. Rest are surviving because of their legacy
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