Mukesh Ambani, chairman and managing director of Reliance Industries Limited, batted for young entrepreneurs to make India a superpower in green energy. The ace industrialist on Wednesday spoke at the Asia Economic Dialogue about green energy, why it is the need of the hour, and how India is early on the table to make the future world a better place.
With the assurance and support from the central government led by Prime Minister Narendra Modi, adequate entrepreneurs, and financing options, India can not only become atmanirbhar (self-reliant) in green energy but can also become a prominent exporter of green energy, he said. Ambani believes our youth has a huge role to play in this.
“I have immense faith in the ability of our young entrepreneurs. They are highly ambitious and highly talented,” he said while talking to Dr Raghunath Anant Mashelkar, president of the Pune International Centre, at the summit.
Ambani predicted that there will be 20 to 30 new Indian companies in the energy and tech space that will grow as big as Reliance, if not bigger, in the next 10-20 years.
Explaining his vision for India, he mentioned, “It took Reliance about 15 years to become a $1-billion company, 30 years to become a $10-billion company, 35 years to become a $100-billion company and 38 years to touch $200 billion. I have no doubt that the next generation of Indian entrepreneurs will achieve this in half the time.”
“India’s community of entrepreneurs will become broader and wealth creation will also become more inclusive. This will make India a more equal nation,” he added.
India’s technology and digital exports have risen to $150-billion from less than $10 billion 20 years ago, he pointed out. “By 2030, I believe they will exceed half a trillion dollars. Similarly, India’s clean and green energy exports in the next 20 years also has the potential of half a trillion dollars of export,” he said.
“In the last 20 years, we were known for India’s emergence as an IT superpower; next 20 years, I believe, along with technology, will mark our emergence as a superpower in energy and life sciences,” Ambani added.
Speaking about the government’s support and enthusiasm for new green energy, Ambani said, “As far as policy is concerned, at least I believe that the Government of India is extremely committed to promoting new energy. And among all countries in the world, we have been proactive, unlike in the past, and I believe that we are at the leading edge of policy development, and all of these policies are transparent and pro-consumer. And the commitment begins at the highest level — from our Honourable Prime Minister Shri Narendra Modi himself, right from the days of Gujarat, as you know. Like he is a big proponent of renewable and clean energy.”
What is commendable is that the new-energy businesses in India are standing on their own two feet, with their own entrepreneurship, and very little support of or basis of any great government subsidies, he added.
“India is today one of the most attractive opportunities for renewable energy investment anywhere in the world,” he mentioned.
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