What is Digital Green Revolution? Mukesh Ambani lists 5 ways “data is the new soil”

Published On: 01, Dec 2017 | Source: financialexpress.com

Reliance Industries Chairman Mukesh Ambani on Friday stressed the point that energy and technology have been the key drivers of human progress. Ambani noted that to emerge as a global power, a country has to embrace new technologies. “No country has ever emerged as a global power, without embracing new technologies wholeheartedly, and without using new-generation energy sources widely,” said Ambani. Ambani has time and again talked about “Data being the new oil”. The Asia’s richest man, speaking at the HT Leadership Summit, reiterated on the importance of data. He said, “If Data is Destiny, New India is well and truly ready for its new Tryst with Destiny.”

Further, the Chairman of India’s most valued company, Reliance Industries, said that India now has the opportunity to digitally reinvent several sectors of its economy. He listed out, “financial services, commerce, manufacturing, agriculture, education, and healthcare.” He said, “India can leapfrog the world in each of these sectors.” Talking about agriculture, Ambani said today average farm yields in India are just about 20 to 30 percent of the best global yields. He added that India will have 300 million more citizens to feed by 2050. He went on to say, “There is both a pressing need and a golden opportunity, to create a digital green revolution….an evergreen revolution.” A digital green revolution, he said, will transform lives of over 60% Indians living in villages who depend on agriculture.

The new term “Digital Green Revolution”, the RIL boss described in 5 points:

1. Digitally enabled mechanical services to benefit all farmers irrespective of their landholdings.

2. Digitally enabled fertilisers/ pesticides to rejuvenate soil.

3. Digitally enabled ‘seed to crop’ processes to get the best yields and double and treble every farmer’s income.

4. Digitally enabled water management to achieve more crop per drop.

5. Digitally enabled supply Chain from the Kisan to the consumer with full traceability, to ensure quality at every stage and remove wastage at every stage.

After this, Ambani went on to redefine “data” as the “new soil” apart from being the “new oil”. Talking about the economy, the Reliance Industries Chairman said the country can triple its growth from the current GDP of $2.5 trillion to $7 trillion in the next ten years and upgrade its rank from number six to the third largest economy in the world.