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Mukesh Ambani, Chairman of Reliance Industries, on Wednesday, predicted that India will significantly reduce its energy imports within the next decade, aiming to become reasonably self-sufficient.
Speaking at an event in Mumbai, Ambani said India's long-term growth opportunity remains intact and could significantly outpace global growth over the coming decades. "As we stand today, India is about a four to four-and-a-half trillion dollar economy in a 110 trillion dollar world. I see India outgrowing the world and finding its right place," he said. Ambani said he believes India's economy could expand to USD 25-30 trillion over the next 30 years. "The India opportunity is a 10, 20, 30-year opportunity. And when you think about solving India's energy problems, I am a believer that in the next decade, India will not import 80 per cent of its energy," he said. Currently, India imports around 80% of its energy needs, but Ambani's vision for renewable energy and technological advancements could change that. Reliance is investing heavily in green energy, including solar and hydrogen production, with plans to establish giga factories and expand its renewable energy capacity. He was speaking at the JioBlackRock event "Investing for a New Era". The JioBlackRock is a joint venture between Jio Financial Services (Reliance Group) and BlackRock, established to provide tech-enabled mutual funds and investment products in India. Outlining the roadmap for energy self-reliance, Ambani said, "We have a path, and God willing, with technological breakthroughs, we will be reasonably self-sufficient in energy. Investments in such energy sectors, which make us self-sufficient, are 20-30 year, time-right investments in physical infrastructure that we still need." He added that India has a historic opportunity to build infrastructure at scale. "We have the opportunity to build, with today's technology, the physical infrastructure for 1.4 billion people. We've done a lot, but there's a lot more to do," Ambani said, adding that these are also long-horizon opportunities in technological infrastructure. Referring to India's broader economic momentum, Ambani said the country is attracting global attention due to sustained high growth and policy stability. "Eight to ten per cent growth is possible and doable, and sustained double-digit growth is not ruled out," he said. He credited stable leadership and policy continuity over the past decade and a half for India's transformation. "Stable economic leadership defines a country, and we have to be thankful to Prime Minister Narendra Modi for giving us this stability," Ambani said. Highlighting execution at scale, Ambani cited the rapid expansion of roads, power capacity, renewable energy, digital infrastructure, and the nationwide 5G rollout, saying these developments have boosted confidence across industries, startups, and young Indians. "The world is taking notice of India. It is a tree laden with abundant fruit, and this growth is very sustainable over the coming decades," he added. (ANI)
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