India to become $10 trillion economy by 2030: Mukesh Ambani

Wednesday 06th December 2017 06:34 EST

Mukesh Ambani, the richest Indian and chairman of Reliance Industries, is of the belief that the Indian economy is poised to grow from $2.5 trillion to $10 trillion by 2030, bridging the gap with the United States and China to become the global economic leader. Speaking at a leadership summit in Delhi, he said, “Today, India's GDP is about $2.5 trillion and ranks at No. 6 in the world. Can we triple it to $7 trillion in the next 10 years and become the third-largest economy in the world? Yes, we can. Can we cross the $10 trillion mark by 2030 and close the gap between India and China, and India and the US? Yes, we can.”

He said India would rise as superior to China in the middle of the 21st century. “India will provide a superior and different development model. A model that will create equitable and inclusive growth based on technology, democracy, good governance, and a society-wide culture of empathy.” He added, “The fourth industrial revolution is now upon us. The foundation of this revolution is connectivity, computing, data and AI. It is marked by a fusion of technologies straddling the physical, digital and biological worlds. It's my firm conviction that India can not only participate in the fourth industrial revolution, but has the opportunity to be a leader.”

Ambani lauded the success of Aadhaar and ISRO. “With nearly 1.2 billion enrolled members, Aadhaar is the world's largest and the most sophisticated, biometric ID system. India has created this infrastructure from scratch within a decade. In this year, India is now a clear leader, and Aadhaar is now decades ahead of even advanced countries,” he said.

Speaking about his telecommunications company, Reliance Jio, that broke all markets with its launch in the Indian market, Ambani said, “Just one year back, India was ranked 150th in the world for mobile broadband. Now it is No. 1 after the launch of Jio. Today, Indians consume more mobile broadband data than users in the US and China. If data is destiny, new India is well and truly ready for its new 'Tryst with Destiny'. In the coming years, we will see many such success stories from India.”

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