Data is the new oil, which India need not import: Mukesh Ambani

Mumbai: Reliance Industries Chairman, Mukesh Ambani addressing the inaugural edition of the India Mobile Congress said data was the new oil, and India did not need to import it.

Ambani also said that the Indian economy would grow from the current $2.5 trillion to over $7 trillion over the next 10 years to become one of the top three economies in the world.

“Growth in India’s mobile data market, he said, was unparallelled in the world. India’s 4G coverage will be larger than 2G in next 12 months “he added.

“We have to provide access to high speed data at affordable price and at the same time we have to ensure that every Indian has access to affordable smartphone that connects them to limitless knowledge and the power of the internet,” Ambani said.

“Young Indians who account for 63% of nation’s population have the competence to build new digital businesses,” he added.

“We must foster confidence in the society. New technologies such as artificial intelligence, robotics, IoT, cloud computing, big data analytics, 3D printing, blockchain, nano tech are enablers of employment and wealth for all,” Ambani said.