Mukesh Ambani believes India could lead fourth industrial revolution

Today, that prediction seems certain, said Reliance Industries Chairman Mukesh Ambani. Image: Reuters

Asia’s richest man, Mukesh Ambani took to the stage on Hindustan Times Leadership Summit and spoke about ‘Why India will become a global leader’. Mukesh Ambani spoke about India’s significant rise in the world economy and what the future could hold for us as a country.

He said that he believes that India can triple its current GDP of 2.5 trillion dollars to 7 trillion dollars by 2030 and close the gap between India and China and India and the USA. “Today, that prediction seems certain. Indeed, it will be achieved well before 2024,” he said while addressing the Summit.

“I believe that the coming three decades will be the defining decades for India. By the middle of 21st century, Indias rise will be higher than Chinas. And more attractive to the world,” he further added.

He also added that like the last three industrial revolutions, a fourth one is upon us and India can emerge as a leader in it. According to him, the foundation of the next revolution will be data connectivity, computing and Artificial Intelligence.

“We are in the age of super intelligence. Like manufacturing was for China, super intelligence can be for India,” he said. He then said that he has three reasons why he believes India will emerge as a global leader out of this revolution.

1. “India is a very young nation. 63 per cent of our population is under the age of 35. And our youth adapt to technology very easily. They have the talent, the ideas, the entrepreneurial energy, they have the courage to dream big and the ability to realise their dreams. I have no doubt that they will make India the No 1 start-up nation in the world,” he said.

2. “Second, India’s historical lack of infrastructure is actually a boon in disguise. Not having legacy technology base means we do not have to train, we can skip multiple generation of technologies and directly embrace the next generation,” he added.

3. “Third and most important, we have the political vision, leadership, determination, and ability to make India a technological leader. Our PM’s Digital India vision has created an alignment among all political parties in this mission of making India the technological leader,” he concluded.

Mukesh Ambani said “I think it is crucial for all Indians to fully understand and internalise and change their mindsets in three defining characteristics of this new age”. He then went on to talk about the three defining characteristics, namely – the world is moving from linear to exponential, that the world goes from scarcity to abundance, and migration from goods and services economy to one powered by intelligence services.

In his speech, Mukesh Ambani also said that there is a gradual shift in power and it is now the time of India and China. “Today the entire world is talking about China’s rise and India’s rise. This is the civilizational rebirth of both India and China and to me there is nothing surprising about it. In the long history of mankind, India and China were the most prosperous nations before the 17th century and after a short interval of 300 years of western domination, the centre of gravity of the world economy is shifting back to China and India,” he said.

He even made a prediction and said, “By the middle of the 21st century India’s rise will be higher than China’s rise and more attractive to the world. India will provide a different and superior developmental model. A model that will create equitable and inclusive growth based on technology, democracy, good governance and a society wide culture of empathy.”

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