Reliance Industries Chairman Mukesh Ambani has once again expressed great confidence in India’s economic future and the power of technology. In a special conversation with Larry Fink, CEO of Black Rock, the world’s largest asset management company, Ambani said that in the coming time, 100 new big companies like Reliance will be established in India. He made it clear that there is no need to be afraid of Artificial Intelligence (AI), because this technology will open the way for crores of new jobs in future.
Mukesh Ambani said that India is among those countries in the world which adopt new technology the fastest and in the best way. Digital payments, internet and mobile technology are big examples of this. In such a situation, AI is not a threat to India but a big opportunity for development. BlackRock CEO Larry Fink also agreed and said that India’s young population can adopt AI and make it an engine of growth.
The real mantra of investing: compounding
Ambani gave a clear message to Indians regarding investment. He said that the money lying in the bank on simple interest does not give real income. The real power lies in the compounding hidden in the stock market and investing. Every Indian should adopt the thinking of earning profit on profit, so that their savings can become big wealth in future.
India will grow at a fast pace in the next 10 years
Larry Fink expressed confidence that India will continue to grow at the rate of 8% to 10% for the next decade. Ambani said that during this period, India will become self-reliant in the field of energy. Strong policies, stable government and increasing investment are India’s biggest strengths.
Dream of 100 new ‘Reliance’
Talking about the Indian startup ecosystem, Ambani said that the country’s economy has now started bearing fruits. On the basis of right policies and entrepreneurship, 100 new big companies like Reliance will emerge in India in the coming years, which will increase both employment and investment.
Future of Mutual Funds and Investments
On Jio-BlackRock partnership, Ambani said that savings have been happening in India for decades, but they were not converted into investments properly. The objective of this partnership is to make people’s savings productive. Experts believe that India’s mutual fund industry can more than double in the next five years.
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