Mukesh Ambani, Asia’s second richest man, said today that India’s GDP will double to $ 5 trillion in the next seven years and reach $ 10 trillion by 2030 in the middle of the 21st century.
Speaking at the HT Leadership Summit, Ambani, chairman and CEO of Reliance Industries Ltd, recalled that in 2004, he predicted that India – then a $ 500 billion economy – would hit the 5-year mark. trillions of dollars in 20 years.
“Today, this prediction seems certain, it will be achieved well before 2024,” he said, adding that the Indian economy would triple to $ 7 trillion over the next 10 years to become the third largest economy in the world .
He added that by 2030 he could break the $ 10 trillion mark and that India could “most certainly” become the most prosperous nation in the world surpassing the United States and China during this period. century.
“In the middle of the 21st century, India’s rise will be greater than China’s rise and more attractive to the world,” said Ambani. “India will provide a superior and different development model (which) creates equitable and inclusive growth based on technology, democracy, good governance and a culture of empathy at the societal level.”
Ambani said the first industrial revolution used coal and steam to mechanize physical activity, the second used electricity and oil for mass production and distribution, and the third used electronics and electricity. computer. increase productivity and automation.
According to Ambani, while India remained on the sidelines of the first two industrial revolutions, it began to catch up in the third computer revolution.
“The fourth industrial revolution is now upon us, the basis of this revolution is connectivity, computing, data and artificial intelligence,” he said. “I firmly believe that India can not only participate in the 4th Industrial Revolution, but has the opportunity to be a leader.”
What the manufacturing was for China, the super intelligence will be for India, predicted the leader of the RIL. “We not only have the opportunity to rapidly develop our own economy, but also to provide intelligent services to the rest of the world,” he added.
Ambani ranked Aadhaar as the largest and most sophisticated biometric identification system, and the launch of 104 satellites with a single rocket as examples of India’s prowess.
On Reliance, he said that five years ago, while most Indian companies were investing outside of India, he decided to invest about $ 60 billion in India.
“We have almost completed this investment cycle, we are now ready to engage even more in our next investment cycle,” he said, without sharing details. This is done on “undiminished belief that India is the greatest investment opportunity in the world”.
“Therefore, for foreign investors, I have a simple message: to be part of India’s rise, to invest in India, to gain in India, to grow in India, to become a partner of India and Prosper with ‘India”.
In 30 years, when India celebrates the centennial of independence, it will be able to move from a $ 2.5 trillion economy to the most prosperous nation in the world, said the president of the RIL.