India can be $40 trillion economy by 2047: Mukesh Ambani

Mumbai: Reliance Industries Chairman and Managing Director Mukesh Ambani on Thursday said India can become a $40 trillion economy by 2047 in a sustainable and stable manner.

"This goal is realistic and achievable because India is blessed with… The power of young demography; The power of a mature democracy; And the newly acquired power of technology," he said.

He was speaking on the occasion of the Reliance Family Day Function.

The next 25 years are going to be the most transformational in the 5,000 year-old history of India, and this is when India is poised to achieve exponential economic growth, Ambani said.

From an era of shortages, scarcity and widespread poverty, India will enter an era of inclusive prosperity, abundance of opportunities, and unimaginable improvement in the ease of living and quality of life of 1.4 billion Indians, Ambani said.

Similarly, at a time when uncertainty, volatility and even regression can be seen in many parts of the world, India is being regarded globally as a shining spot, he said.

"Therefore, I would like every leader and every employee in Reliance to know that destiny has given us an opportunity — and also a responsibility — to make a pivotal contribution to realisation of the enormous promise of India’s Amrut Kaal," he stated.

Acutely aware of this opportunity and responsibility, Ambani said Reliance has embarked on a journey of comprehensive self-transformation.

The end of 2022 is when Reliance will have crossed the half-way mark of its Golden Decade, he said, adding that in five years from now, Reliance will complete its fifty years.

"All of us are proud of what we have achieved so far. But the journey ahead is going to be far more exciting, more rewarding, but also more challenging," he said.

Ambani said he instinctively feels that India is going to see profound, astonishing and unexpected changes in the coming decade and also see India riding this tsunami of changes and achieving impossible things.

"Therefore, as India's leading corporate, Reliance has to rise to the call of the times and fulfil the nation’s expectations," he said.

To be able to do so, Reliance has begun implementing the two-pronged task of empowering Reliance with new leadership and new talent capitals, with emphasis on young leadership and talent.

"We will pay a lot of attention to developing captivity, capability and competence at all levels. I would like our leaders to accelerate this process throughout the organisation. All of us must realise that the next big cycle of growth in Reliance will not be resource-driven but innovation-driven," he said.

Ambani also called upon to make 2023 a year of bold and pioneering innovations at Reliance. "I am sure we will achieve trail-blazing successes," he said. (UNI)