Mukesh Ambani Believes India is Prepared for the 4th Industrial Revolution

Reliance Industries Limited’s Chairman and Managing Director, Mukesh Ambani recently made his presence felt at the World Economic Forum (WEF) meet, which was held in Davos, Switzerland. In his speech, he supported the concept of a free market system. Additionally, he emphasized on the need to maintain an equal distribution of wealth across the world, without the intervention of extraneous factors. According to him, the creation of wealth is necessary since it is the precursor to the distribution of the same. He stated that building wealth is a challenge. However, once it happens, distribution of the same would be much easier.

Mukesh Ambani’s views at the WEF

At the global platform, Mukesh Ambani highlighted the success of the Indian Government’s demonetization drive. He praised the Indian Prime Minister Narendra Modi for his strong leadership and stated that the demonetization move’s success has proven that India is ready for the 4th industrial revolution. Mukesh Ambani shared his thoughts on what the country must do in order to facilitate the development of its people. According to him, the technology could help transform India, especially if the country’s educational institutions integrated it into their systems. Mukesh Ambani said that this would be possible only if the foundation is set, wherein all individuals embrace technology.

India’s ability to adapt to new technology

When Mukesh Ambani was asked about his views on the future, he stated that 2016 mainly entailed understanding the 4th industrial revolution’s technology, 2017 will see these technological concepts being implemented. He added that using the technologies in the right manner, so as to benefit the people would be a challenge. At the WEF Annual Meeting, Vishal Sikka, the chief of Infosys also shared the dais with Mukesh Ambani. He supported Mukesh Ambani’s views by stating that the demonetization drive has revealed to the world that India is capable of embracing technological changes in the right spirit. He stated that technologies like artificial intelligence should be used carefully so as to avoid social disturbances.

Success of the demonetization movement

With regard to India’s demonetization drive, Mukesh Ambani stated that over the past three months there has been a large-scale movement of digital money as compared to cash. According to him, the move was supported by people across India, mainly because they believed in its long-term benefits. Mukesh Ambani stated how a company could play an important role in propelling the growth of the country by creating inclusive technology. He maintained that this is something that Reliance Industries Limited has strived to achieve.

Reliance Industries Limited’s telecom arm, Reliance Jio is rapidly advancing in this direction by using technology to offer free data services to people and empower them. Jio’s foray into the telecom sector impacted the market to a large extent and caused several incumbent operators to reduce their tariff rates as well. The telecom company has already garnered more than 72.4 million users shortly after its commercial launch.

Summary

Mukesh Ambani announced that India is ready to embrace the 4th industrial revolution, at the World Economic Forum (WEF) meet.

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