Adani and Ambani employee war ended
Asia’s two richest billionaires Gautam Adani and Mukesh Ambani have signed a ‘no poaching’ agreement. Under this, Adani Group employees will neither be able to work in Reliance Industries nor will Adani Group hire employees who have worked in Mukesh Ambani’s company. This agreement is effective from May this year and is for all business related to both the companies.
This information has been given in the report of Business Insider. According to the report, questions related to this agreement have not yet been answered by the Adani Group or Reliance Industries.
The ‘no poaching’ agreement assumes significance as the Adani Group is now entering a business that is already dominated by Reliance Industries. Last year, the Adani Group announced its foray into the petrochemical sector with Adani Petrochemicals Ltd. Reliance has the largest presence in this sector.
At the same time, the Adani Group has taken the first step for entry in Telecom. Recently Adani has bid for 5G spectrum. At the same time, Adani and Ambani are seen becoming each other’s rivals in the green energy sector. Similarly, after Mukesh Ambani in the media, now the Adani Group has entered. Due to the agreement between Mukesh Ambani and Gautam Adani, roads have been closed for lakhs of employees. Reliance has more than 3.80 lakh employees.
At the same time, thousands of employees of Adani Group will not be able to work in any company of Mukesh Ambani. PLC/ GT
