Mukesh Ambani, India’s richest man, views the benefits of India’s three decades of economic reforms to citizens as “unequal.” He said that the “Indian model” of development was essential for the creation of wealth at the lowest levels of society. However, Ambani expressed confidence that the country could reach the US and China by 2047.
In an article by the Reliance Industries Chairman, on the completion of 30 years of economic liberalization in the country, our gross domestic product (GDP), which was 6266 billion in 1991, has increased tenfold today. It has already happened. Ambani, who heads the largest Indian company through market capitalization, has rarely written such articles. In his article published in the Times of India, Ambani said, “India was a deficit economy in 1991 and it became an additional economy in 2021. Now India needs to be transformed into a sustainable surplus and prosperity economy by 2051.”
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In 1991, Ambani wrote that India had the vision and courage to change both the direction and determination of the economy. “The government has placed the private sector at an impressive height in the national economy. For this reason, over the last four decades, the place has been available only to the public sector.
Ambani said these reforms could make India the world’s fifth largest economy. During this period, although the population rose from 88 crores to 138 crores, the poverty rate was halved. Ambani said, “Critical infrastructure has improved much more than we thought. Now, our expressways, airports and ports are world-class. The same is true of our industries and services. Otherwise companies would have to get government approval to buy a computer.
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He said that in 2047 we would celebrate one hundred years of our independence. What could be a bigger dream, by which time we will be able to make India one of the world’s three richest countries. We are equal to the US and China. Ambani said the next road was not easy but we did not have to worry about sudden temporary problems like the epidemic. Nor is it to distract you from unimportant problems. “We have the opportunity and at the same time it is our responsibility to transform the next 30 years into the best years in independent India’s history for our children and youth.
