In a revelation that has stunned industry insiders, Reliance Industries, the nation's most valuable conglomerate, has disclosed its annual report. The highlight? Hital Meswani, a key figure in Mukesh Ambani's empire, is now the highest-paid executive at Reliance, commanding a staggering salary of ₹25.42 crore for the fiscal year 2023-24.
The news comes as a surprise, considering the challenging financial landscape. With Mukesh Ambani opting out of his salary since the onset of the COVID-19 pandemic in 2020, the focus has shifted to his inner circle. Meswani, alongside his brother Nikhil, has not only maintained but elevated their earnings, receiving an impressive pay package. This figure includes a substantial commission of Rs 17.28 crore, signalling their critical roles in the company's operations.
So, who exactly is Hital Meswani? Born into the prominent Meswani family, Hital's lineage traces back to Dhirubhai Ambani’s elder sister, Trilochana Ben. His father, Rasiklal Meswani, was a cornerstone in Reliance's early success, a fact Mukesh Ambani himself acknowledges with fondness. Rasikbhai was pivotal in overseeing the polyester business, a sector that laid the foundation for Reliance’s future.
Hital Meswani’s journey with Reliance began in 1990, and he has been a board member since 1995. His tenure has been marked by his leadership in major projects such as the Hazira Petrochemicals and Jamnagar Refinery Complex. His influence extends across Reliance’s diverse portfolio, including Reliance Petroleum and the Indian Film Combine.
Educationally, Meswani’s credentials are nothing short of stellar. He is a graduate of the University of Pennsylvania, where he earned degrees in Chemical Engineering and Economics. This blend of technical expertise and strategic insight has enabled him to navigate and drive Reliance’s vast empire.
As Reliance Industries continues to grow, Hital Meswani’s pivotal role and substantial salary underscore his importance within the conglomerate. His rise from Mukesh Ambani’s nephew to a key figure in one of India's largest corporations is a testament to his significant contributions and strategic vision.
