CAPITALISM COMES TO INDIA (2)

"At a recent cricket match here, Mukesh D. Ambani sat in his private box quietly watching the team he owns, the Mumbai Indians. He seemed oblivious to the others around him: his son cheering wildly, his wife draped in diamond jewelry and a smattering of guests anxiously awaiting the briefest opportunity to speak with him. A minor bureaucrat stood a few rows back, strategizing with aides about how to buttonhole “the Chairman,” as Mr. Ambani is sometimes called. Waiters in baggy tuxedoes took turns trying to offer him a snack, but as they drew near became too nervous to speak. In the last century, Mohandas K. Gandhi was India’s most famous and powerful private citizen. Today, Mr. Ambani is widely regarded as playing that role, though in a very different way. Like Mr. Gandhi, Mr. Ambani belongs to a merchant caste known as the modh banias, is a vegetarian and a teetotaler and is a revolutionary thinker with bold ideas for what India ought to become. Yet Mr. Gandhi was a scrawny ascetic, a champion of the village, a skeptic of modernity and a man focused on spiritual purity. Mr. Ambani is a fleshy oligarch, a champion of the city, a burier of the past and a man who deftly — and, some critics say, ruthlessly — wields financial power. He is the richest person in India, with a fortune estimated in the tens of billions of dollars, and many people here expect that he will be the richest person on earth before long." (New York Times, 15 June) RD