Mukesh Ambani says Indian economy to grow 13-fold to $40 trillion by 2047
India is likely to become a USD 40 trillion economy by 2047 — a 13-fold jump from its current size — driven primarily by a clean energy revolution and digitalisation, billionaire Mukesh Ambani said on Tuesday. Ambani’s estimate for the Indian economy, currently the fifth largest in the world behind only the US, China, Japan and Germany, is more optimistic than Asia’s richest man Gautam Adani, who last week stated that India will become a USD 30 trillion economy by 2050 on back of rising consumption and socio-economic reforms.
“From a 3 trillion-dollar economy, India will grow to become a 40 trillion-dollar economy by 2047, ranking among the top three economies of the world,” Ambani said at the 10th convocation of Pandit Deendayal Energy University.
As the ‘Amrit Kaal’ — the period between now and 2047 when India will be celebrating 100 years of independence — unfolds, the country will witness an unprecedented explosion in economic growth and opportunities, he asserted.
“Three game-changing revolutions will govern India’s growth in the decades ahead,” he said. “The clean energy revolution, the bio-energy revolution and the digital revolution.”
Ambani’s oil-to-telecom conglomerate Reliance Industries Ltd has a finger in each of the pies as it invests billions of dollars in creating a clean energy value chain from solar panels to hydrogen. His Jio disrupted the telecom sector, offering free voice calls and dirt-cheap data which played the role of a catalyst in bringing about the digital revolution in the country.
“While the clean energy revolution and the bio-energy revolution will produce energy sustainably, the digital revolution will enable us to consume energy efficiently,” Ambani said. “All three revolutions will together help India and the world save our beautiful planet from the climate crisis.”
To the students, he gave them three mantras of success — think big, think green and think digital.
“Be an audacious dreamer. Every great thing ever built in this world was once a dream thought to be impossible. You have to own your dream with courage, nurture it with conviction and realise it with bold and disciplined action. It is the only way you can make the impossible possible,” he said.
Source: ECONOMIC TIMES