Champaklal Damani

Mid State Level Public Record

Editorial estimate, not verified fact — Disclaimer

Co-founder of Reliance Commercial Corporation and early business partner of Dhirubhai Ambani

Data Confidence: 78% · Sources: 3 · Last Updated: Sep 21, 2026

Net Worth ▲: Undisclosed — estimated significant wealth
Reach ▲: 5.0M people
Power ▲: Damani provided early capital and co-managed the initial trade operations of Reliance Commercial Corporation from its founding in 1958 until 1965.
Influence ▲: His cautious trading approach and focus on risk management shaped the early structure of the yarn and spice trading partnership before his business split with Ambani.
Network ▲: He maintained close familial and trading ties across Aden, Yemen, and Mumbai's textile trading ecosystem in Masjid Bunder.
Legacy ▲: Damani is remembered in Indian corporate history as the initial co-founder of the enterprise that ultimately evolved into Reliance Industries.
Trajectory ▲: Rising ↑ — first assessment on record.

About

Champaklal Damani was an Indian trader who co-founded the precursor to Reliance Industries alongside his second cousin Dhirubhai Ambani in 1958. Starting from Aden, Yemen, and later operating out of a 350-square-foot office in Mumbai's Masjid Bunder, the duo established Majin to trade polyester yarn and export spices. In 1965, Damani parted ways with Ambani due to divergent commercial philosophies, leaving Ambani to build Reliance into a global conglomerate.