India can grow at 10% annually: Ambani at Reliance AGM
What's the story
Mukesh Ambani, Chairman and Managing Director of Reliance Industries Limited (RIL), has said that India has the potential to grow at a 10% annually. He was speaking at the company's 48th Annual General Meeting on Friday. Ambani attributed this potential to India's "determined leadership" under Prime Minister Narendra Modi and stressed that with the right reforms and advanced manufacturing capabilities, such growth is achievable. RBI expects full-year growth to remain close to 6.5%, with "minimal impact" from Trump's tariffs.
Vision
'India-first model of development'
Ambani emphasized the need for an "India-first model of development," which would combine technology with values. He said, "This model will use Deep Tech to bring prosperity and security to India, improve the quality of life of each and every Indian, and protect the environment." The RIL chief also talked about harmonizing technology with democracy, economy with culture, spirituality with science.
Global impact
Ambani on global economic trends
Ambani said that India's growth is closely tied to the world's prosperity. He added, "While uncertainty surrounds us, humanity also stands at the threshold of a golden age in the 21st century - an age defined no longer by scarcity but by super-abundance and super-affordability for all eight billion people on this planet." This transformation is driven by three technological breakthroughs: clean energy, genomics, and artificial intelligence (AI).
Corporate strategy
Reliance's role in technological transformations
Ambani stressed Reliance's commitment to these technological transformations. He said, "At Reliance, we see these three convergent transformations not as distant possibilities but as immediate opportunities for India." The company is building advanced clean energy ecosystems and venturing into digital health, life sciences, genomics. Ambani also said they are developing AI as a new growth engine and integrating it across all their businesses - from retail to telecom and entertainment.