India can become one of top 3 economies in world: Mukesh Ambani

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Riding on the power of technology, India has a chance to become a premier digital society and one of the top three economies in the world, Reliance Industries (RIL) Chairman and Managing Director Mukesh Ambani stated on Monday.”We can argue about whether it will happen in 5 years or 10 years but it is going to happen, and we will be in the top three countries in the world,” he further added in a fireside chat with Microsoft CEO Satya Nadella.

The RIL chairman said that empowering small and medium businesses would be key to driving India’s growth faster.”Every small business and entrepreneur in India has the ability to become a Dhirubhai Ambani or Bill Gates. And that is the power that distinguishes India from the rest of the world,” he claimed at Microsoft’s ‘Future Decoded Summit’ here.

He also stated, “I think that the entrepreneurial power that we have at the grassroots is enormous. We have to realise that small, medium and micro enterprises provide 70%of India’s employment. They drive 40% of India’s exports,”.
“And I think, I can easily say that the mobile networks in India now are better or at par with anybody else in the world,”.

Ambani informed, “about 38 crore people have migrated to the 4G technology platform offered by Jio in about three years, adding that since the intiation of Jio, average data rate has come down drastically in India — from Rs 300 – Rs 500 per GB to Rs 12 – Rs 14 per GB.
Congratulating Nadella for his leadership of the organisation, Ambani said that the collaboration between Microsoft and Jio would be a defining partnership of the decade.

“In the next decade, our main investment will be on making software engineers that organisations hire more productive,” Nadella said, adding that Microsoft will build complete toolchain for developers.
The Microsoft CEO said that the increasing rate of digitization of people, places, and things will be the defining secular trend over the next 10 years.

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