In ten years, India will become $7 trillion economy: Ambani

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In ten years, India will become $7 trillion economy: Ambani

The minister said telecom companies are set to generate revenue of $38.25 billion by the end of 2017, registering a mean annual growth rate of 5.2% since 2014, as more people buy smartphones and consume greater volumes of data.

"India must tap the potential of new technologies to transform and create jobs in rural and agricultural sector". We can not deprive Indians of this vital life-sustaining resource.We have to provide ubiquitous access to high-speed data at affordable prices and at the same time, we have to ensure that every Indian has access to the affordable smartphone that connects them to limitless knowledge and the power of the internet. We have it in super-abundance. "In the next 10 years, the Indian economy will grow from the present 2.5 trillion to over 7 trillion, and will rank among the top three economies in the world", Mukesh Ambani said. Industry leaders Sunil Bharti Mittal of Airtel and Kumar Mangalam Birla along with Sinha, Law and IT Minister Ravi Shankar Prasad, Oil and Skills Minister Dharmendra Pradhan also attended India Mobile Congress, which will go on till September 29. "The pace at which India has grown is unparalleled in the world", said Ambani, as he delivered his address at the inaugural India Mobile Congress earlier today. "We have to provide ubiquitous access to high-speed data at affordable prices", the Reliance Industries' chairman said, predicting that India's 4G coverage will become larger than 2G coverage in the next twelve months. However, there is still a chance for India to jump into the fourth industrial revolution which is fueled by connectivity, data and artificial intelligence.

Mr Ambani also stressed on the need to collaborate and said India provides enough opportunities for 'all of us to grow and prosper together'.

"New sources of energy and new modes of transportation with unparallelled efficiencies have become possible, thanks to convergence of several technologies".

Digitisation of education, training and human resource development in a comprehensive manner must be regarded as a pre-condition for the success of Digital India, he suggested.

"To realise the Digital India dream to the fullest, we have to start by becoming the change that we seek to create..."

He also emphasised the need for investing in creating next-generation technology, breaking silos, and forging partnerships.

Since its launch, Jio has been locked in a bitter market place battle with older telecom players led by Bharti Airtel. "Together, we can achieve the unimaginable", Ambani said. No corporate, nor the government, wcan do it alone.

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