New Delhi: Mukesh Ambani, Chairman and MD of Reliance Industries Ltd., has predicted that India will be among the top three economies worldwide in the next 10 years.
India will grow from its current size of $2.5 trillion to over $7 trillion in the next 10 years to rank among the top three economies in the world, Ambani said at the India Mobile Congress in New Delhi on Wednesday.
Ambani said data is the “new oil”, and India’s mobile data infrastructure is unparalleled in the world.
In the last one year, India jumped to becoming the largest data consuming country from the 155th slot in mobile broadband penetration, he said, adding that the pace at which India has grown is unparalleled in the world.
At the event, Ambani said 4G coverage will expand in the next 12 months to overtake 2G usage in the country. Reliance launched Jio a year ago, which provides 4G data services.
Ambani added that, as a nation, India missed out three phases of the industrial revolution — mechanisation, mass production and automation. However, the fourth industrial revolution has begun and India has an opportunity to lead, he said.
Mobile internet and cloud computing are the foundations of the fourth industrial revolution and data is the new oil, Ambani said. “We do not need to import it. We have it in abundance. It will help in creating prosperity and opportunities for India and 1.3 billion Indians.”
The first edition of the three-day industry event organised by the Department of Telecom kicked off in New Delhi on Wednesday.
Apart from Ambani, Bharti Enterprises chairman Sunil Mittal, Aditya Birla Group chairman Kumar Mangalam Birla and Vodafone Group CEO Vittorio Colao were also present at the event.
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