INDIA An unusual act of self-sacrifice by a company chairman has found remarkably little resonance in a land where austerity is a way of life for most of the population and some of its most revered leaders.
On the eve of Diwali, a Hindu festival that in part celebrates prosperity, Mukesh Ambani, India’s richest man and chairman of Reliance Industries, volunteered a 66 per cent pay cut. Mr Ambani, who ranks seventh in a world tally of billionaires, would instead make 150m rupees ($3.2m) in 2008-09.
