Data is the new oil, 4G to overtake 2G in next 12 months: Mukesh Ambani

New Delhi: Reliance Industries Chairman Mukesh Ambani on Wednesday said that data is the new oil and India doesn't have to import it as it is in super abundance and 'we have to ensure every Indian has it." Addressing the inaugural session of the first India Mobile Congress here, Mr Ambani said, "Data is the oxygen of a digital economy, we cannot deprive Indians of this vital life-sustaining resource.' Mr Ambani said,'We have to provide ubiquitous access to high-speed data at affordable prices.

Data is the oxygen of a digital economy.' The new era, India's richest man asserted, is of 4G and it will surpass 2G within a year from now as most of the consumers shift towards 4G. He added, “The pace at which the Indian mobile industry has grown is unparalleled in the world. In the next 10 years, India will grow from a 2.5 trillion dollar economy to a 7 trillion dollar economy and rank among the top-three economies in the world. ' And to make this happen, the Indian telecom and IT industry has to play a foundational role in creating the digital infrastructure as the Fourth Industrial Revolution, fuelled by connectivity, data and Artificial Intelligence has begun.' (UNI)