Reliance Industries chairman and managing director Mukesh Ambani said on Wednesday that he was confident India will become a global leader in green energy. He was also all praise for the country’s young entrepreneurs. While talking to Dr RA Mashelkar, president of Pune International Centre, at the Asia Economic Dialogue, Ambani said, “I have absolutely no doubt that India can, and India will emerge as a global new energy leader.”
Speaking about India’s swift response to adopting green energy, he added, “While the world is still grappling with this, we have put our vision of exporting green energy out of India on the table. So, we are early.”
Explaining why he is confident and optimistic about the sector, Ambani said, “Firstly, India is a country full of entrepreneurial spirit, innovation and youth. Secondly, we now have proactive and forward-looking policy support and action from the government, both at the central and the state level. Thirdly, our entrepreneurs now have assured financing options.”
The ace businessman said that he has immense faith in the ability of India’s young entrepreneurs. “They are highly ambitious and highly talented, and I’m fortunate to see a lot of them in action all around. I foresee at least 20-30 new Indian companies in the energy and tech space which will grow as big as Reliance, if not bigger, in the next 10-20 years,” he said.
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, he pointed out. “I have no doubt that the next generation of Indian entrepreneurs will achieve this in half the time,” Ambani added.
“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. Technological progress will make energy affordable on the basis of commercial viability, and it will be technology, the entrepreneurial spirit, and the new business model that gives values to customers that will drive the business and not government subsidies. And that’s encouraging about the new energy opportunities that I see,” he mentioned.
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