Speaking at the India Today Conclave 2017, the Chairman of Reliance Industries Limited (RIL), Mukesh Ambani praised Prime Minister Narendra Modi’s demonetization and digitization initiatives and spoke about India’s technological potential.
Mukesh Ambani’s views on demonetization and digitization
With reference to demonetization, Mukesh Ambani said that India has moved from being a ‘cash economy to a digitally-enabled optimal cash economy’. He stated that India is great today and will be fantastic in the future. The industrialist added that when Prime Minister Narendra Modi met the then United States (US) President, Barack Obama, for a dinner at White House, they only discussed technology and how it could benefit the poor in a country.
With reference to the Narendra Modi-led Bharatiya Janta Party’s victory in the Uttar Pradesh elections, Mukesh Ambani stated that the Prime Minister understands the people of India, the world, and technology. He even said that the country is blessed to have him as a leader.
According to Mukesh Ambani, the credit in India has always been large in value but low on volume and hence available only for a few people. He said that Aadhaar-based identity will be linked in the coming years, after which taking a loan could be done through a mobile phone within a few minutes.
Mukesh Ambani revealed that India is the fifth largest and the fastest growing economy. According to him, the country’s current pace of growth could make it the third largest economy.
Due to the launch of Reliance Jio, India has recorded the highest data consumption in the world. Mukesh Ambani informed that Jio will be connecting 58,000 colleges and schools through digitization, thereby establishing the most digitally-enabled education system in the world.
India’s technological potential
Mukesh Ambani said that the world is entering the fourth industrial revolution and India has the potential to lead this revolution. He believes that bringing back the brightest minds working overseas will enable the country to achieve this goal.
He stated that physical, biological and digital sciences are merging, which in turn will allow humans to redesign and rediscover all the aspects of life that exist on the planet. He further stated that technologies like robotics, artificial intelligence, cloud computing, nanotechnology, genomics, and mobile internet form the base of the revolution.
Speaking on India’s capacity to lead the industrial revolution, Mukesh Ambani stated five reasons for it. He revealed that India is a young country with 63 percent of its population aged under 35 years, with the skill to adapt faster to modern technology.
He feels that the lack of digital infrastructure in India will be helpful as it will enable the country to skip multiple generations of technology and directly adopt the upcoming generation.
According to him, India has a large and open market and is one of the most attractive places for business, technology, and global talent. Moreover, the leadership in India believes in connecting the country to the world. Lastly, he stated that India has the determination, political vision, capacity, and leadership to excel in technology.
Mukesh Ambani said that India has the capacity to lead the fourth global industrial revolution. He also praised Prime Minister Narendra Modi for his initiative to demonetize and digitize the country.