India can become a $40-trillion economy by 2047, said Reliance Industries Ltd (RIL) chairman and managing director Mukesh Ambani on Wednesday at a virtual address marking the 90th birth anniversary of RIL founder Dhirubhai Ambani.
“India will enter an era of prosperity, an abundance of opportunity, and unimaginable improvement in the ease of living and quality of life of 1.4 billion people”, the RIL chief added.
The next 25 years will be the most transformational in the 5,000-year-old history of India, he said.
“This is when India is poised to achieve exponential economic growth. We can become a $40 trillion economy by 2047 in a sustainable and stable manner,” Ambani noted.
On RIL’s future, the billionaire businessman said the conglomerate will continue to grow like a “banyan tree”. “Years and decades will pass, Reliance will continue to grow like a banyan tree. Its branches will spread wider and roots will go deeper. We will always remember our founder Dhirubhai Ambani with immense gratitude, who planted the seed of this tree,” he said.
Mukesh Ambani, who took over the reins of RIL after the sudden demise of his legendary industrialist father Dhirubhai Ambani, completes 20 years at the helm during which the conglomerate saw a 17-fold jump in revenues, 20-times surge in profit and has become a global conglomerate.
In 20 years that Stanford University-drop out Mukesh, 65, has been at the helm of RIL, the company has re-entered the telecom business, diversified in retail and new energy, and raised a record Rs 2.5 lakh crore selling minority interests during the Covid lockdown.
“Under the leadership of Akash Ambani, Jio’s 5G deployment will be complete by 2023. I congratulate the Jio team for further consolidating their No.1 position. Jio Platforms should now get ready for India’s next big opportunity – to provide unique digital solutions to both domestic and international markets,” said Mukesh Ambani on Wednesday.