Mukesh Ambani prophesied on Friday that India will overtake US and China, buoyed by the fourth industrial revolution. “Today, I wish to make a prediction. By the middle of the 21st century, India’s rise will be higher than China’s and more attractive to the world,” Asia’s richest man Mukesh Ambani said at the Hindustan Leadership Summit. Further, the Chairman of India’s most valued company- Reliance Industries says that India’s economy will quadruple to $10 trillion by 2030. He also laid down the driving factors which will help India to achieve this unique feat. Taking note of India’s growth, Mukesh Ambani said, “India was a $500 billion economy just 134 years ago. Today, India’s GDP is $2.5 trillion, and the country is ranked sixth in the world. To me, there is nothing surprising about the rise.” In the same address, Mukesh Ambani said that his earlier prediction of India’s GDP topping $5 trillion by looks more certain. In September this year, he said that Indian economy will grow from $2.5 trillion to over $7 trillion in the next 10 years to rank among the top three economies in the world. In the same address Mukesh Ambani explained the three key drivers which will propel India to newer heights. We take a closer look at these factors-
Tech Savvy Youth
Mukesh Ambani said that the fourth industrial revolution fuelled by the advent of connectivity, data, and artificial intelligence has begun and said that India has an opportunity to lead at it, owing to its tech savvy and young workforce. “India is gifted with a very young and talented workforce, 63% of the population is below the age of 35,” he observed. Earlier, the veteran industrialist had said that data is the new oil, and India does not need to import it. “Data is the oxygen of a new digital economy. We cannot deprive Indians of this vital life-sustaining resource,” Mukesh Ambani had said during an event.
Lack of Infrastructure- boon in disguise
Mukesh Ambani says that the country’s historical lack of infrastructure has been a boon in disguise, as India can now move to adopt the latest technology. “As a nation, India missed out on first three industrial revolutions, namely, mechanisation, mass production and automation. India has the opportunity to lead the fourth industrial revolution, which is set to usher in more dramatic revolutions globally than the three previous revolutions,” Mukesh Ambani said adding that the world will achieve much more in the coming 30 years than what it has achieved in the last 300 years.
Political Vision and leadership
Mukesh Ambani lauded Prime Minister Narendra Modi’s Digital India vision, saying that the initiative will enable India to become a technology leader. Mukesh Ambani stressed that this is the most important factor which will propel India to achieve greater heights. “We have the political vision and determination to make India a technology leader. Our PM’s digital India vision has created an alignment among all political parties,” he said adding that the whole world is talking about China and India’s rise.