Ambani: Country ready to come out of poverty, Mukesh Ambani said – India will be $40 trillion economy by 2047

Reliance Industries chief Mukesh Ambani has said that at a time when there is uncertainty, volatility, and tension in many parts of the world, India is being seen as a shining spot globally. Mukesh Ambani said these things during the Reliance Family Day Function 2022 organized online on Thursday. He said that from an era of scarcity, scarcity, and widespread poverty, India would usher in an era of inclusive prosperity, an abundance of opportunities, and unimaginable improvement in the ease and quality of life of 1.4 billion Indians.

Ambani said, “We can become a $40 trillion economy sustainably and stably by 2047, the centenary year of our independence. This goal is realistic and achievable." He said India is blessed with a young population, a mature democracy, and the new power of technology.

Speaking at the family function, Adani said that we are living in such a time when the world has started seeing the 21st century as "India's century". The next 25 years are going to be the most transformative in India's 5,000-year-old history. India is poised to achieve comprehensive economic growth.

Mukesh Ambani-led Reliance Industries is involved in petrochemical, oil and gas, telecom, and retail businesses. 60 percent of the group's revenue comes from the oil refining and petrochemical business. However, to reduce its dependence on the oil refining business, the group is also increasing its interference in the field of retail, telecommunication, and technology.

Earlier this year, Ambani unveiled his ₹2.75 trillion mega investment plans and outlined a succession plan. The group wants to double its market value by 2027.

Ambani has also announced that the company will invest ₹75,000 crores in its O2C business over the next five years to set up India's first carbon fiber factory and increase capacity in other areas such as polyester and vinyl. The group is also working on plans to accelerate its commitment to invest ₹75,000 crores towards setting up a fully integrated new energy manufacturing ecosystem in Jamnagar.

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