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Last Updated : Feb 24, 2020 07:11 PM IST | Source: Moneycontrol.com

Mukesh Ambani says India on track to become world's top 3 economies

India's emergence, said the Reliance Industries Chairman, will be enabled by technology

Reiterating that India's time has come, Reliance Industries Chairman Mukesh Ambani said the country is set to become one of the top three economies in the world, and technology will play a big role in that journey.

"There is no doubt in anyone's mind (on India becoming the third-largest economy).  We may argue if it will happen in five or 10 years," said Ambani in a conversation with Microsoft CEO Satya Nadella, in Mumbai.

Ambani said growth in the economy will be marked by India's emergence as the world's 'most premium digital society."

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He said: "The opportunity we have in India is the opportunity to become the premium digital society in the world, with all the components coming in place... we will be the most technologically-enabled society," Ambani said in the fireside chat with the Microsoft CEO.

India had recently emerged as the fifth-largest world economy, overtaking the UK and France, as per a report by US-based think tank World Population Review. "India's economy is the fifth-largest in the world with a gross domestic product (GDP) of $2.94 trillion, overtaking the UK and France in  2019 to take the fifth spot," it said.  The size of the UK economy is $2.83 trillion and that of France is $2.71 trillion.

The tie-up

Both Microsoft and Reliance Industries came together last year to announce a 10-year partnership that aims to "offer a detailed set of solutions comprising connectivity, computing, storage solutions... for Indian businesses."

Reiterating that "we are just at the beginning of this whole journey," Ambani said it will be imperative for India to be the 'pace-setter' when it comes to using technology.

Referring to Prime Minister Narendra Modi's call to use technology to improve ease of doing business in the country, Ambani added that the tech-enabled tools will also deliver ease of living for every citizen in India.

"The India that future generations will see will be nothing like the one you and I grew up in," Ambani told Nadella.

Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
First Published on Feb 24, 2020 02:13 pm
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