Slowdown is temporary, historic opportunity for Indian businesses in next decade, says Mukesh Ambani

By: |
Updated: February 29, 2020 10:40 PM

In the last four decades, Reliance started off as a textile company, transformed it into a petrochemical chemical company and then into a refining and energy company.

Muskesh Ambani, RIL, Reliance Industries, Iconic Business Leader of the DecadeWhile thanking the jury, Ambani said “For me, the only iconic leader has been my father, Dhirubhai Ambani.”

Terming current economic slowdown as temporary, Asia’s richest man and RIL Chairman Mukesh Ambani said that it was caused by external turbulence. “As we move into next decade, I am very optimistic and I think while we have seen temporary pains and the leadership that finance minister provided we’re just going to get out of it until external turbulence hit us, but I am very very optimistic,” Mukesh Ambani said after being presented with the ‘Iconic Business Leader of the Decade’ award by CNBC-TV18.

He further said that in the coming decade Indian businesses have a historic opportunity to scale new heights and drive India to be among the top three economies of the world. While thanking the jury, Ambani said “For me, the only iconic leader has been my father, Dhirubhai Ambani. He taught us that we have to dream big, big for reliance and bigger for India”. While appreciating the young leaders of Reliance, he dedicated the ‘Iconic Business Leader of the Decade’ award to his father and the young leaders of Reliance, who have transformed the company in the last decade.

In the last four decades, Reliance started off as a textile company, transformed it into a petrochemical chemical company and then into a refining and energy company, Ambani added saying that “In the last decade, we have built a world-scale retail and consumer tech business. And this transformation really belongs to the young leaders of Reliance”. 

Meanwhile, Deepak Parekh was felicitated with the lifetime achievement award. Along with Reliance Industries Chairman Mukesh Ambani, Union Finance Minister Nirmala Sitharaman,  Chief Minister of Maharashtra Uddhav Thackeray, Reserve Bank of India (RBI) governor Shaktikanta Das and Managing Director of Mahindra and Mahindra Pawan Goenka were among the guests at the award function. 

Meanwhile, according to the ninth edition of the Hurun Global Rich List 2020, Mukesh Ambani was ranked ninth richest person in the world with a net worth of worth $67 billion (Rs 48.4 lakh crore).

Do you know What is India expected to grow 10 pc during current fiscal: NCAER Director General Poonam Gupt,FinMin releases Rs 9,871 cr grant to 17 state, Cash Reserve Ratio (CRR), Finance Bill, Fiscal Policy in India? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1FM reviews capex, asks DoT to expedite digital expansion
2Non-food credit growth stuck at 6.5% despite festive season onset
3Nirmala Sitharaman asks civil aviation ministry, Dept of Telecom to fast-track project implementation