Reliance Industries' Mukesh Ambani bets on digital revolution to drive India's exponential growth

Written by fe Bureau | Mumbai | Updated: Jun 20 2014, 02:20am hrs
Reliance, Mukesh AmbaniReliance Industries' Mukesh Ambani during the 106th Annual General Meeting of the IMC in Mumbai. PTI
Mukesh Ambani, chairman of Reliance Industries on Thursday reiterated his bullishness on digital space and India's potential to become the growth driver in the future led by its strong young talent aided by technology.

Speaking at the Annual general meeting of Indian Merchants' Chamber, Ambani who is known for his ability to take long term view said that 3 Ts technology, talent and teamwork collectively can help India's future growth.

Today digital space has revolutionised how people live their lives. World is moving from witnessing linear and local growth to exponential and global one and we need to know how to deal with this digital world where growth is happening exponentially. I strongly believe that one unique opportunity for India is to rethink our future by embracing digital revolution, said Ambani, who is betting big on fourth generation (4G) telecommunication technology and has committed nearly Rs 70,000 crore towards Reliance's telecom venture 'Reliance Jio Infocomm' over next three years.

Ambani said that India has an unprecedented chance to convert its many challenges into opportunities across number of developmental areas provided we remove some key hurdles.

We need a disruptive policy of reforms that are so foresighted that they are relevant not just for 5-10 years but much beyond that a vision and an action plan that regenerates revives, renews and revs up the country. However there remain developmental hurdles to overcome health education infra, employment and agriculture demand greater attention. Globally even bigger challenges like geopolitical volatility, climatic changes and extremism not to mention the technological transmissions occurring at the speed of light, he added.

Ambani said that India needs to make sure that we utilize our young 'talent' well and make use of digital revolution.

We are the only country in the world that is becoming younger as the world grows older. India should not resist change but become a change agent. America progressed in the 20th century because they built physical highways and infrastructure, India will now progress because of digital highways. We will need to create employment opportunities for a million people every month for next few years, he said.