Mukesh Ambani: India at the doorstep of development

Reliance Industries Ltd chairman Mukesh Ambani said that Mumbai belongs to all Indians and its cabbies are trapped in the licence raj. “We are all Indians first. Our cities—whether Mumbai, New Delhi, Kolkata or Chenna—belong to all Indians. There should be equal opportunities. We, in corporate India, have got out of the licence raj but the poor taxiwallah is still trapped (in the licence raj),” he said.

Ambani was participating in a panel discussion at the launch of Not by Reason Alone: The Politics of Change in India, by Rajya Sabha MP and former bureaucrat NK Singh, organised by The Express Group and LSE India Observatory in association with Reliance Industries Ltd, Tata Group, Confederation of Indian Industry (CII), NDTV, HT Media Limited & Penguin Books India.

The book is published by the Express Group and Penguin.

Amidst a disastrous global downturn, Mukesh Ambani said, India’s balancesheet is strong, consumer numbers are growing and the consumer is debt-free. “Therefore Indian economy should have a 9% default growth rate but our potential really is a high double-digit growth,” he said.

“What we have seen so far is the announcement that the old world, as we knew it, has come to an end. The world as a whole will restructure itself. I personally believe that this is an opportunity to rebalance the world and within that India is at the doorstep of a new developmental model. And this will take time and we should not rush into things. India’s strengths in this new world are going to be its soft skills,” he said.



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