Mukesh Ambani Says India Will Prove Cynics Wrong, Turn Into A $ 5 Trillion Economy

Reliance Industries Ltd (RIL) President Mukesh Ambani said that the Indian economy will soon recover and grow with unprecedented acceleration. Mukesh Ambani said at an event that India will prove the cynics wrong by becoming a $ 5 trillion economy. He said that with higher incomes, jobs and a better quality of life for one billion Indians at the middle and bottom of the economic pyramid, it will be a more egalitarian India.

“As the digitization of the Indian economy and society accelerates, the demand for digital hardware will grow tremendously,” Ambani said. India has a historic opportunity to become the world’s preeminent digital society with ease of life for all. “My conviction comes from the enormous transformative power of digital technologies,” he added.

The confluence of three Ds, vibrant democracy, young demographics and digital transformation, is one of the factors that will help India. Even in the COVID-19 pandemic-induced lockdown, the entire industry, consisting of thousands of engineers and employees, worked around the clock to provide support to all sectors of society and businesses.

Ambani further said that India has developed world-class strengths in chip design. “I clearly anticipate that India will become an important hub for the cutting edge semiconductor industry,” he said. The RIL president said that with the India Digital Mission playing the role of the main accelerator, India is about to enter a new decade. “Nothing can stop the rise of India, not even COVID-19. This is our opportunity to create history, ”said Ambani.

Addressing the India Mobile Congress (IMC) 2020 event, Mukesh Ambani announced that Reliance Jio will launch 5G services in the second half of 2021 in India. It will be driven by indigenous technology, hardware and components. Ambani also said that to secure 5G technology and smartphones in India, political intervention is needed.