India can become a $10 trillion economy by 2030, says Mukesh Ambani

Mukesh Ambani, the richest Indian and chairman of India’s most valued firm Reliance Industries, believes that the Indian economy is poised to grow from $2.5 trillion to $10 trillion by 2030, bridging the gap with the United States and China to become the global economic leader.

“Today, India’s GDP is about $2.5 trillion and ranks at No. 6 in the world. Can we triple it to $7 trillion in the next 10 years and become the third largest economy in the world? Yes, we can. Can we cross the $10 trillion mark by 2030 and close the gap between India and China, and India and the U.S.? Yes, we can,” he said at a leadership summit in Delhi.

Mr. Ambani feels that by the middle of the 21st century, India’s rise will be higher than China’s. “India will provide a superior and different development model. A model that will create equitable and inclusive growth based on technology, democracy, good governance and a society-wide culture of empathy,” he said, adding that what manufacturing was for China, super-intelligence would be for India.

Mr. Ambani was confident that the fourth industrial revolution will happen in India. “The fourth industrial revolution is now upon us. The foundation of this revolution is connectivity, computing, data and AI [artificial intelligence]. It is marked by a fusion of technologies straddling the physical, digital and biological worlds. It’s my firm conviction that India can not only participate in the fourth industrial revolution, but has the opportunity to be a leader. ” said Mr. Ambani, who also believes that India will emerge as the number one start-up



nation.

Lauding the success of Aadhaar and ISRO, Mr. Ambani said, “With nearly 1.2 billion enrolled members, Aadhaar is the world's largest and the most sophisticated, biometric ID system. India has created this infrastructure from scratch within a decade. In this area, India is now a clear leader, and Aadhaar is now decades ahead of even advanced economies.” In February last, ISRO created a world record by launching not one, not two, not three, but 104 satellites form a single rocket.

'India number one in mobile broadband after Jio launch'

Talking about Reliance Jio, Mr. Ambani said, “Just one year back, India was ranked 150th in the world for mobile broadband. Now it is No. 1 after the launch of Jio. Today, Indians consume more mobile broadband data than users in the U.S. and China. If data is destiny, new India is well and truly ready for its new 'Tryst with Destiny'. In the coming years, we will see many such success stories from India,” said Mr. Ambani, elaborating how the data revolution will help the agriculture, education and healthcare sectors.

“Five years ago, when most Indian businesses were investing outside India, we decided to invest about $60 billion in India. We have nearly completed this investment cycle. We are now ready to commit even more in our next investment cycle. We are doing this out of our undiminished conviction that India is the biggest investment opportunity in the world,” said Mr. Ambani. He advised the international investors to be a part of 'India’s Rise' by investing, earning, growing partnering and prospering together with India.