Nita and Mukesh Ambani. AFP
Nita and Mukesh Ambani. AFP
Nita and Mukesh Ambani. AFP
Nita and Mukesh Ambani. AFP

Nita Ambani pours passion for the arts into Mumbai culture centre


Panna Munyal
  • English
  • Arabic

Of the many, many pieces of art that adorn Antilia, the Mumbai home that Nita Ambani shares with her husband Mukesh, the one she is most fond of is Tu by Indian painter S H Raza.

“I gifted this artwork to my husband on his birthday,” Ambani tells The National. “It is inscribed with the words ‘Tujhe zameen pe bulaya gaya hai mere liye’, which translates as ‘You have been called unto this Earth for me’. These are the lyrics from my favourite song Kabhi Kabhie. My husband would sing this song to me when we were younger.”

Ambani is a bona fide culture vulture, and Indian art is a point of both passion and pride for her. Some other pieces she cites as favourites from her collection include: Raqib Shaw’s Radha Krishna depiction; Manjit Bawa’s Untitled Krishna “that has a special place in our temple lobby”; Sabavala's sublime work with pinks and blues “that has stayed in my office for a long time”; and Anish Kapoor’s reflective work, which she describes as magical. “I appreciate how he pushes the boundaries in his practice.

"I am also an admirer of traditional Indian art such as Pichwai and Tanjore paintings. In recent times, my daughter Isha has been my sounding board. I enjoy her sensibilities, her insightful perspectives, and her taste in modern and contemporary art.”

  • The Nita Mukesh Ambani Cultural Centre is set to open in Mumbai on March 31. All photos: NMACC
    The Nita Mukesh Ambani Cultural Centre is set to open in Mumbai on March 31. All photos: NMACC
  • Founder Nita Ambani says the centre is 'the realisation of a lifelong dream'
    Founder Nita Ambani says the centre is 'the realisation of a lifelong dream'
  • The Grand Theatre can seat 2,000
    The Grand Theatre can seat 2,000
  • The centre will also include a 1,486-square-metre Art House for exhibitions, and a space called The Cube for experimental shows
    The centre will also include a 1,486-square-metre Art House for exhibitions, and a space called The Cube for experimental shows
  • Ambani is known to be a patron of the arts, which reflects in the interior of her cultural centre that houses various artworks, including this piece Closet Quarries II, by artist Reena Kallat
    Ambani is known to be a patron of the arts, which reflects in the interior of her cultural centre that houses various artworks, including this piece Closet Quarries II, by artist Reena Kallat
  • City Obscure (2022) by Vibha Galhotra at the centre, which aims to offer emerging and established artists a platform
    City Obscure (2022) by Vibha Galhotra at the centre, which aims to offer emerging and established artists a platform
  • Kamal Kunj, an artwork by Raghunandan Sharma and a team of artists from the city of Nathdwara, covers a wall in the Nita Mukesh Ambani Cultural Centre, which also has a temple in-situ
    Kamal Kunj, an artwork by Raghunandan Sharma and a team of artists from the city of Nathdwara, covers a wall in the Nita Mukesh Ambani Cultural Centre, which also has a temple in-situ

Art aside, Ambani is a patron of classical Indian music and dance. “I grew up learning Bharatanatyam, so I have always looked up to amazing classical dancers, such as Balasaraswati,” she says.

“I’ve had the privilege of experiencing the performances of many great artists, including musicians, theatre actors and storytellers in India and around the world, and I am a fan of Pandit Bhimsen Joshi, Ustad Bismillah Khan, Pandit Ravi Shankar and Ustad Zakir Hussain. The late Lata didi [Indian playback singer Lata Mangeshkar] remains a timeless favourite for our family across generations.”

It is little wonder, then, that while the Ambani power couple are renowned for their business acumen (Nita owns the T20 cricket team Mumbai Indians and Mukesh is the chairman of Reliance Industries), it's the opening of a multidisciplinary cultural centre that bears her name that Ambani calls “the realisation of my lifelong dream”.

The Nita Mukesh Ambani Cultural Centre, in Mumbai’s bustling Bandra Kurla Complex, will throw open its doors on March 31, with a suitably impressive line-up of performances.

On opening night, playwright and director Feroz Abbas Khan will present The Great Indian Musical: Civilisation to Nation, a theatrical experience celebrating Indian dance, drama, music and art.

On April 1, eminent fashion journalist, costume expert and Vogue magazine's global editor Hamish Bowles will curate the exhibition India in Fashion: The Impact of Indian Dress and Textiles on the Fashionable Imagination. On April 2, cultural theorist Ranjit Hoskote and Jeffrey Deitch, former director of the Museum of Contemporary Art in Los Angeles, will present Sangam/Confluence, a group art show that will explore plurality of expression through the works of 10 Indian and international artists.

Nita Ambani with her family, from left, Mukesh, Anant and Isha. Photo: Prodip Guha / Getty Images
Nita Ambani with her family, from left, Mukesh, Anant and Isha. Photo: Prodip Guha / Getty Images

“The centre’s opening line-up reflects our aspiration, which is to shine the spotlight on India’s rich and diverse heritage on a national as well as international scale,” says Ambani. “By showcasing exemplary Indian artists, talented young artists and spectacular international performances, we want to provide new experiences to an appreciative audience.

“NMACC has been a labour of love and commitment for my family and me, a testament to our deep-rooted pride as Indians and as supporters of the arts.”

While the entire opening season programme is yet to be announced, Ambani says: “For now, all I can share is that we have some of the most exciting productions from India and across the world coming up at the Grand Theatre.”

The venue’s 2,000-seat state-of-the-art auditorium aside, the centre includes The Studio Theatre, which seats 250; a 1,486-square-metre Art House for exhibitions; and a space called The Cube that, Ambani says, “can be configured in almost any way, and is especially great for independent artists and experimental shows”.

"The beauty of art is in the universality of its appeal and the transformation it enables," she adds. "It sensitises communities and opens our minds to ideas, helps us embrace divergence, and transcends every boundary and label.

“Even during difficult times, such as the lockdown, art brought solace to people around the world. So many of us picked up a pencil or a brush, learnt an instrument, or just danced our hearts out as a form of expression, a mechanism to cope and a symbol of solidarity. As such, the hope with the centre is it continues to celebrate art in all forms for generations to come.”

Kat Wightman's tips on how to create zones in large spaces

 

  • Area carpets or rugs are the easiest way to segregate spaces while also unifying them.
  • Lighting can help define areas. Try pendant lighting over dining tables, and side and floor lamps in living areas.
  • Keep the colour palette the same in a room, but combine different tones and textures in different zone. A common accent colour dotted throughout the space brings it together.
  • Don’t be afraid to use furniture to break up the space. For example, if you have a sofa placed in the middle of the room, a console unit behind it will give good punctuation.
  • Use a considered collection of prints and artworks that work together to form a cohesive journey.
Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

if you go

The flights
Fly direct to Kutaisi with Flydubai from Dh925 return, including taxes. The flight takes 3.5 hours. From there, Svaneti is a four-hour drive. The driving time from Tbilisi is eight hours.
The trip
The cost of the Svaneti trip is US$2,000 (Dh7,345) for 10 days, including food, guiding, accommodation and transfers from and to ­Tbilisi or Kutaisi. This summer the TCT is also offering a 5-day hike in Armenia for $1,200 (Dh4,407) per person. For further information, visit www.transcaucasiantrail.org/en/hike/

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

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Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

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Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

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The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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Player of the Year: Cristiano Ronaldo, Lionel Messi, Robert Lewandowski (Bayern Munich)

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Coach of the Year: Gian Piero Gasperini (Atalanta), Hans-Dieter Flick (Bayern Munich), Jurgen Klopp (Liverpool)

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Updated: March 09, 2023, 9:56 AM