Ambani believes India will have 30 businesses the size of Reliance In the next two decades
Mukesh Ambani, Chairman of Reliance Industries Ltd., believes that 20 to 30 Indian green energy and technology businesses will develop to be as big as, if not greater than, Reliance Industries in the next decade or two, he said at an event on Wednesday. Mukesh Ambani, Asia’s richest man, claimed it took RIL 38 years to grow to a $200 billion corporation, but he expects next-generation Indians to do likewise in half the time.
“It took Reliance about 15 years to become a $1 billion company, 30 years to become a $10 billion company, 35 years to become a $100 billion company, and 38 years to be a $200 billion company. I have no doubt that the next generation of Indian entrepreneurs will achieve this in half the time,” Ambani said.
“What this also means is that India’s community of entrepreneurs will become broader and wealth creation will also become more inclusive. This will make India a more equal nation,” he added.
For years, Mukesh Ambani has referred to data as the new oil, and with Reliance Jio, he ushered in a digital revolution by making India one of the world’s largest mobile data consumers and making mobile internet accessible to the masses, with tariffs starting at Rs 4 per GB. He’s been betting on renewable energy lately, spending Rs 75,000 crore in capital investment to create solar and renewable energy equipment and infrastructure.
He believes that by utilising green and clean energy, India may become a worldwide force. This might be accomplished by being self-sufficient in green energy production, or “Atmanirbhar,” as well as a major exporter of green energy.
“When wood was replaced with coal, Europe overtook India and China to emerge as the world leader. Similarly, with the emergence of oil, the US and West Asia outgrew others. When India becomes not only self-sufficient in green and clean energy, but also a large exporter, it will help India emerge as a global power,” he added.
By 2030-2032, Ambani believes India would overtake the European Union as the world’s third largest economy.
“India has to address three challenges. One, India must increase energy output to drive double-digit GDP growth, and we have to do it at an affordable level through the use of technology. Second, India must increase the share of green and clean energy in this enhanced output. And third, India must achieve the goal of ‘Self-reliance’ or ‘AtmaNirbhar Bharat’ in pursuing the above two challenges,” he added.