ndia has the potential to become a $10 trillion economy by 2030: Mukesh Ambani
India has the potential to become a USD 10 trillion economy by 2030 and close the gap with China, said Mukesh Ambani, Chairman, Reliance Industries.
Ambani was speaking at the 15th HT Leadership Summit partnered by CNN-News18.
The entire world is seeing a resurgent India, he said, adding that the next three decades will be defining years for the country.
The world so far has seen three important industrial revolutions from the late 17th century up until now even as it is now in the grip of the fourth -- one which is defined by data connectivity, AI and computing. India, which was on the fringes in the first two industrial revolutions, can reap the dividends of this ongoing transformation, said Ambani.
Outlining the three characteristics that will enable India to improve its position in the world order, Ambani said that there has been a migration from the linear to exponential. “Mobile telephony, virtual assistance and self-driven cars were science fiction a few years ago. Early adopters of these will have the first mover advantage to leapfrog the competition and create societal value.”
The world is moving from scarcity to abundance as well, he said, adding that with the power of data connectivity and intelligence, the price performance of everything changes drastically.
This abundance will be for all, not for a privileged few, he said, adding that mankind was on the doorstep of ubiquitous availability.
Bringing up the rear was intelligent services, which Ambani believed, will be the next frontier of market leadership across countries.
We can become the provider of intelligent services to the world, he said.
Being a young nation, India can adapt to technology easily, and its lack of legacy means it can skip multiple generations of technology and embrace the next generation. He also mentioned that India had the political vision and determination to make India a tech leader.
India is positioned to become a leader in this new age, he said. As early signs of the promise India shows, he mentioned the rollout of Aadhaar and ISRO’s feat of launching 104 satellites at a low cost.
In terms of mobile broadband penetration, India was ranked 150 two years ago, but after Jio launching teelcom services, India is number one, he said.
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