8-10% economic growth for India is possible and sustained double-digit growth is not ruled out: Mukesh Ambani

• Mukesh Ambani sees 8-10 percent economic growth possible for India
• JioBlackRock aims to help Indians convert savings into earnings
• India's energy imports to drop significantly in the next decade

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India can sustain growth of 8-10 percent and could even achieve double-digit expansion sustainably, Reliance Industries chairman Mukesh Ambani said, offering an optimistic view of the country’s long-term economic prospects.

"I see India outgrowing the world," Ambani said at JioBlackRock event in Mumbai while in conversation with BlackRock CEO Larry Fink.

"India, and the tree of the Indian economy is bearing fruit with great visibility, with sustainability and abundance. We've also had policy that was sustainable. We've continuity in policy. We have also been conservative."

"Indians have saved consistently over the last five, six decades but that has not been productive. For us at JioBlackrock, the opportunity is to encourage Indians to save and give them the option to convert those savings into earnings," said Ambani.

In next decade, India will not be importing 80% of its energy, added Ambani.

"We are not going to be behind the word when it comes to technological infrastructure. I think that the Indian opportunity stands at $4.5 trillion, in 20-30 year period India will outgrow rest of the world," said Ambani.

JioBlackRock is a 50:50 joint venture between Jio Financial Services (JFSL) (part of Reliance Industries) and BlackRock, the world's largest asset manager.

Speaking about the venture, Ambani said, "Larry (Fink) told me that at the end of the day, purpose of Blackrock is not to just make short term result or not even to make returns for my investors and my shareholders, if I cannot put this money to work first for the betterment of society and as a byproduct I give my investors and shareholders returns, then I would have done my job. And that is the Reliance philosophy too."