India can become one of top three economies in world: Mukesh Ambani

Mumbai: Riding on the power of technology, India has the opportunity to become a premier digital society and one of the top three economies in the world, Reliance Industries (RIL) Chairman and Managing Director Mukesh Ambani said here on Monday.

“We can argue about whether it will happen in five years or 10 years but it is going to happen, and we will be in the top three countries in the world,” he said in a fireside chat with Microsoft CEO Satya Nadella.

Ambani said that India has the opportunity to become the most technologically enabled society where all the development could be powered by the tools of technology.

The RIL chairman said that empowering small and medium businesses would be key to driving India’s growth faster.

“Every small business and entrepreneur in India has the potential to become a Dhirubhai Ambani or Bill Gates. And that is the power that differentiates India from the rest of the world,” he said at Microsoft’s ‘Future Decoded Summit’ here.

“I think that the entrepreneurial power that we have at the grassroots is enormous. We have to realize that small, medium and micro-enterprises provide 70 percent of India’s employment. They drive 40 percent of India’s exports,” he added.

He said that India has transformed tremendously over the past two decades — from a $300 billion economy in the early 1990s to becoming a $3 trillion economy in 2020.

“And I think, I can easily say that the mobile networks in India now are better or at par with anybody else in the world,” he said.

About 38 crore people have migrated to the 4G technology platform offered by Jio in about three years, Ambani informed, adding that since the establishment of Jio, the average data rate has come down drastically in India — from Rs 300 - Rs 500 per GB to Rs 12 - Rs 14 per GB.

Congratulating Nadella for his leadership of the organization, Ambani said that the collaboration between Microsoft and Jio would be a defining partnership of the decade. (IANS)

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