Reliance Industries chairman and richest Indian Mukesh Ambani invited foreigners to invest in India as it is the biggest investment opportunity in the world.
“India is the biggest investment opportunity in the world. Therefore, to foreign investors, I have a simple message: Be a part of India’s rise. Invest in India; earn in India; grow in India,” said Ambani at the 15th Hindustan Times Leadership Summit.
Technology and energy will be key to development, Ambani said, illustrating with examples from previous industrial revolutions. India, he added, is well-poised to be a leader in the fourth industrial revolution.
“Technology is a great leveler, it provides equal access to all without prejudice. India can be a leader in the fourth industrial revolution. India is a young nation, where almost 63 percent of the population comprises youth. Youth adopt technology very easily. They will make this nation a country of startups,” he said.
He said that India will surpass China in the economy. “We are in the age of super-intelligence. What manufacturing was for China, super-intelligence will be for India.”
Talking about the India’s GDP, he said it will become a $5 trillion economy well before 2024. Today India GDP is $2.5 trillion and positioned sixth in the world. By 2030, India can be $10 trillion GDP. India’s rise will be higher than China rise in coming years,” he added.
Next areas to look out for
He said the biggest scope for India to use technology will be in agriculture, education, and healthcare.
“There is a pressing need and golden opportunity to create a digital green revolution. Data is not only the new oil, data is also the new soil,” he pointed.
Talking about future, he said that the world will go from linear to the exponential world. The mobile telephone, e-commerce, self-driven car, and Internet were just science fiction now are facts. The Early adopter of each of these shifts will leapfrog the competition and create unprecedented value.
Mukesh Ambani’s Jio on profitable route
Jio is on course to turn profitable, as the company is already ahead of its schedule, said Ambani. India now ranks number one in broadband connectivity index as against 150th before Jio’s launch.
Jio is accused of having disrupted India’s telecom sector with their ultra cheap offerings that made data available to millions of Indians. India in terms of the data infra will be ahead of the US by 2019, he added.