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Reliance Industries Chairman and Managing Director Mukesh Ambani said that India is drawing global attention due to its strong economic performance, stable leadership, and consistent policy execution, comparing the country's economy to a fruit-bearing tree that naturally attracts attention.
Speaking about India's growth trajectory in a conversation with Larry Fink, Chairman and CEO of BlackRock, who is currently in India, Mukesh Ambani said the country is the world's fastest-growing major economy, with growth rates of 8-10 per cent both achievable and sustainable. Mukesh Ambani, Chairman and Managing Director, Reliance Industries, said, "There is an old Indian saying 'a tree only attracts attention if it bears fruit', and today in this new era, as you described it, India and the tree of the Indian economy is bearing fruit with great visibility, sustainability and abundance." "We are the fastest-growing economy in the world. 8-10 per cent is possible and doable and I think that sustained double-digit (growth) is not ruled out. That is why, after a long time, we are attracting all this attention." He added that the possibility of sustained double-digit economic growth in India cannot be ruled out. Ambani attributed the increased global focus on India primarily to stable leadership over the past 10-15 years. He said economic stability plays a defining role in a nation's progress and credited Prime Minister Narendra Modi for providing continuity and clarity in governance. He also pointed to the government's long-term vision of making India a developed nation by 2047, stating that the goal of "Viksit Bharat" has gained widespread acceptance and belief among citizens. "Stable economic leadership defines a country, and we have to be thankful to the Prime Minister Modi for giving us the stability...I also think we have got a very clear goal, a goal that we have to be Viksit Bharat by 2047, which every Indian aspires to and has started believing in," Mukesh Ambani said. In addition, Ambani highlighted India's ability to execute large-scale projects as a key factor behind its growth, citing developments in road infrastructure, telecommunications, and other sectors. He said sustainable and consistent policy frameworks have further strengthened the country's economic foundation. Speaking of India, Larry Fink, Chairman and CEO, BlackRock, said he thinks of India over a long horizon, and not from a day or a week or a year perspective. "This is an era of India over the next 20-25 years. The era of India, the key for us, the key for Jio BlackRock is to compel more people to understand what does that mean 'the era of India' and how do you participate in it," he said, stressing the need for more Indians to participate alongside the country's growth story. "We talk about a new world era to give people a foundational understanding of where we are. But as an investor, I don't look at any era. Our job is to have people focus on the real opportunities for investors over a lifetime," Larry Fink said. He said he was absolutely convinced in the 'era of India', and one just needs to compel more Indians to invest alongside the growth of India. "That will actually transform India in so many ways, because as more and more families invest alongside the growth of India, India has less need for the importation of capital. And I do believe that the importation of capital by foreign investors who believe in the era of India, but the fundamental foundation of any country is having the domestic economy being built on the back of retirement savings and on the back of excess savings, to invest alongside that," he added. JioBlackRock Broking aims to bring affordable, transparent, and technology-driven execution capabilities for Indian investors. The broking entity's parent company, JioBlackRock Investment Advisers, is a 50:50 joint venture between Jio Financial Services Limited and BlackRock Inc. (ANI)
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