Mukesh Ambani says India on way to becoming third-richest country
Governments, businesses and civil society organisations should put together an ecosystem for massive upskilling of workforce: RIL chairman Mukesh Ambani
New Delhi: Having missed the first three industrial revolutions, India was now in a position to lead the fourth on the back of its vast tech-savvy young population, and was on the way to becoming one of the three richest countries in the world, Reliance Industries chairman Mukesh Ambani said on Tuesday.
Speaking at the 24th MobiCom conference, Ambani said India’s digital transformation was “unmatched and unprecedented” after it took leadership position from being 155th in wireless broadband technology adoption in just 24 months.
Back in the 1990s, when Reliance was building its oil refinery and petrochemical projects, India’s gross domestic product (GDP) was around $350 billion and had just come out of a severe financial crisis.
“Very few in the world thought that our country’s prospects were bright. Today our GDP is nearing $3 trillion, and India is well on its way to becoming one of the three richest countries in the world,” Ambani said.
Ambani also said mobile computing as a catalyst was driving massive data consumption, which gave young Indians a fertile ground for disruptive ideas. “In the next two decades, I can confidently say that India shall be leading the world and shall contribute to the next wave of global economic growth.”
“The fourth industrial revolution is now upon us. It is marked by a fusion of technologies straddling the physical, digital and biological worlds,” Ambani said. “I can say with full confidence that India has a chance of not just participating in the fourth industrial revolution, but also leading it.”This is possible because the India of today is remarkably different from the India of yesterday. India’s vast tech-savvy young population is its key strength. Just imagine the kind of connected intelligence India can create if the power of billion-plus minds is combined!.”
Governments, businesses and civil society organisations should put together an ecosystem for massive upskilling of workforce, he said.
There was a pressing need to create a digital green revolution by encouraging adoption of technologies for water conservation, soil management, precision farming and waste reduction to enhance agricultural productivity, he added.
Talking about Reliance Jio, his telecom venture that stormed the industry by combining free voice calls and SMS with cheap data, he said India ranked quite low at 134th in the global ranking for fixed broadband. “Jio is determined to move India to among the top three in fixed-line broadband, too.”
This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.
Editor's Picks »
- What to expect from Q3 results of IndiGo, SpiceJet, Jet Airways
- Forget privatisation, govt has hugged its banks tighter
- Flat profit, rising debt are growing worries for Reliance
- Q3 results: HUL growth off a high base shows it’s on a roll
- DCB Bank Q3 results: Small loans give big pain as farm, mortgages lift delinquencies