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  1. Mukesh Ambani’s three magic bullets to grow India into top three economies

Mukesh Ambani’s three magic bullets to grow India into top three economies

The Indian economy will grow nearly three-fold in the next ten to years to become one of the world’s top three economies, India’s richest man Mukesh Ambani said on Wednesday.

By: | Published: September 27, 2017 2:57 PM
The Indian economy will grow nearly three-fold in the next ten to years to become one of the world’s top three economies, India’s richest man Mukesh Ambani said on Wednesday. (Image: Reuters)

The Indian economy will grow nearly three-fold in the next ten to years to become one of the world’s top three economies, India’s richest man Mukesh Ambani said on Wednesday while prescribing three magic bullets to accelerate the growth by tapping the digital and technological potential of India.

Mukesh Ambani said India must undertake three tasks for the economic growth: Exploring technologies for job creation, using it for energy and resource security, and digitisation of the human resource development. “In the next 10 years, the Indian economy will grow from the present 2.5 trillion to over 7 trillion, and will rank among the top three economies in the world,” Mukesh Ambani said.

The Indian business magnate said that India is on the cusp of becoming a leader in the fourth industrial revolution fuelled by the advent of connectivity, data, and artificial intelligence, and the mobile internet and cloud computing will be the foundational technologies for this revolution.

India must tap the potential of the digital medium in creating jobs, Mukesh Ambani said adding, “(India) must foster confidence in the society that new technologies such as artificial intelligence, robotics, IoT, cloud computing, big data analytics, 3D printing, the blockchain, nanotechnology are new enablers of employment,” he said.

Highlighting the need for greater connectivity, Mukesh Ambani said that India must connect everyone with Super IoT. “Digital technologies can be a boon for achieving national priorities of energy security, water security and resources security,” he added. Mukesh Ambani further emphasised the on digitisation of education, skill training and human resource development.

He further said that India’s economic growth will ride on the foundation of the telecom and the IT industry. ”Indian telecom and IT industry have to play a foundational role in creating a digital infrastructure.” Mukesh Ambani said.

“Data is the new oil. India does not need to import it in superabundance. It will be a new source of value and will create opportunities and prosperity for India and millions of Indians. As an industry, we have the urgent task of empowering 1.3 billion Indians with the tools needed to flourish in the digital marketplace,” Mukesh Ambani said at the event.

Speaking at the event, Mukesh Ambani brought the need to make affordable smartphones accessible to everyone. “We have to ensure that every Indian has access to an affordable smartphone that connects him to the limitless knowledge and power of the internet,” he said.

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