Mukesh Ambani says India could see 100 new Reliances; 'startup ecosystem excites me the most'

Reliance Industries Chairman Mukesh Ambani

• Ambani says India's startup ecosystem could create 100 new Reliances
• India's growth driven by policy continuity and disciplined economic approach
• Investors and governments increasingly recognize India's long-term potential.

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Mukesh Ambani, Chairman and Managing Director of Reliance Industries, on Wednesday said India’s startup ecosystem holds the potential to create '100 new Reliances', citing sustained economic growth, policy continuity and rising global interest in the country. Mukesh Ambani was speaking in Mumbai at a JioBlackRock fireside chat with BlackRock CEO Larry Fink.

Ambani said the Indian economy has reached a stage where growth is visible, durable and broad-based, and is marked by long-term reforms and structural stability. “India, and the tree of the Indian economy, is bearing fruit with great visibility, with sustainability and abundance,” he said.

He attributed this phase of growth to long-term, consistent policymaking, and a conservative and disciplined economic approach over the years. “We’ve also had policy that was sustainable. We’ve had continuity in policy. We have also been conservative,” Ambani said.

Ambani said the startup ecosystem was the aspect of India’s growth story that excited him the most, arguing that it has the potential to create multiple large, globally relevant enterprises over time. “The startup industry excites me the most. I can clearly see a 100 new Reliances,” he said.

Referring to recent global developments, Ambani said international engagement with India has strengthened following key diplomatic and trade initiatives. He added that global investors and governments are increasingly paying attention to the country’s long-term prospects.

He added that India is now being viewed differently on the global stage, with international governments and investors increasingly recognising the country’s long-term potential. “After the Budget, we had the European treaty, and the US-India deal,” he said, adding that India is now “setting the foundation for many, many decades” and that “the world is taking notice of India”.