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Where Blood Runs Thick.(Periscope; FAMILY AFFAIRS)

Newsweek International

| July 21, 2008 | Overdorf, Jason | COPYRIGHT 2008 Newsweek, Inc. All rights reserved. Any reuse, distribution or alteration without express written permission of Newsweek is prohibited. For permission: www.newsweek.com. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: Jason Overdorf

For some time now, Indian firms have been growing in competitiveness; companies like Tata, Reliance, and the Aditya Birla Group now rival giant Western multinationals like General Electric and Procter & Gamble. The conventional wisdom has also been that Subcontinental powerhouses are getting more sophisticated. Management is becoming more professional, too; bullish analysts point to the recent merger of Ranbaxy (India's largest drugmaker) with Japan's Daiichi as a sign of a new willingness among India's CEO scions to move beyond the walled garden of family firms and team up with smart outside companies.

Now a very public fight between Mukesh Ambani's Reliance Industries Ltd. and Anil Ambani's Reliance Anil Dhirubai Ambani Group--the billion-dollar refineries to telecoms rivals created when the brothers divided the family assets after a soap-opera-style split in 2005--underscores how much work ...

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