"I entered KC College in 1975. When I came here for my interview, for my admission, every person I spoke to spoke to me in Sindhi," Ambani said.
"Be it Kundanani, Bhambani, Nichani, Kevalramani... and they also thought that Ambani was the same. For a moment, I thought that I got my admission at KC College because I have a 'ni' in my surname.
"Well, I am extremely proud to have the surname Ambani. I am proud to be a Gujarati, and above all, an extremely proud Indian," he said.
Ambani is an alumnus of KC College, which is holding its diamond jubilee celebrations.
The alumni of the college were today felicitated by the President. Ambani's mother Kokilaben and wife Tina Ambani were present on the occasion.
Meanwhile, actor Amitabh Bachchan, in his address to the gathering of college students and faculty, emphasised the importance of literacy.
"Literacy being able to read and write is always more than the sum of its parts because of what it opens up for the people," Bachchan said.
"Literacy ends up being a kind of metaphor. As soon as one can read and write, one becomes a member of a much larger community than would otherwise be possible," he said.
"Literacy is also an effective means for social and economic participation, for contributing to human development and poverty reduction," Bachchan added.