By 1964, Shri Dhirubhai Ambani had made a name for himself in the Bombay yarn market. He was made director of the Bombay Yarn Merchants’ Association and Exchange Ltd. in 1964. As the director, he brought about transparent practices and wage regulation of mathadi workers; handcart pullers who hauled goods.
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With the profits from yarn trading, Shri Dhirubhai Ambani bought his first car, a Fiat, in 1963. Its registration number was 8404.
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Although profitable, the spice business was not enough for Shri Dhirubhai Ambani. Ever restless to find more growth opportunities, he shifted to yarn trading. This was a risky business, but there were also margins to be made. Shri Dhirubhai Ambani started buying and selling different types of yarn, first in small quantities, then in ever-increasing volumes.
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In February 1958, Shri Dhirubhai Ambani started Reliance Commercial Corporation in partnership with Shri Trambhakbhai Damani. When asked why he chose to name his company Reliance, Shri Dhirubhai Ambani said, 'I saw it written somewhere and it stayed in my mind.'
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