India is rich and fertile for entrepreneurship: Mukesh

Our Bureau New Delhi | Updated on October 30, 2018 Published on October 30, 2018

Minister for Electronics and Information Technology Ravi Shankar Prasad with Reliance Industries Chairman Mukesh Ambani, Infosys founder NR Narayana Murthy, and others at the 24th Annual International Conference on Mobile Computing and Networking (ACM Mobicom) 2018, in New Delhi, on Tuesday   -  Kamal Narang

Time to lead the fourth industrial revolution, says RIL Chairman

Instead of a digital divide, India today is digitally united and all 1.3 billion connected minds are going to accelerate India’s future, said Mukesh Ambani, Chairman, Reliance Industries, here on Tuesday.

At an event here, he said, “Digital platforms make it possible for many consumers to be entrepreneurs at the same time. Imagine a force of 1.3 billion networked consumers and entrepreneurs having access to all the knowledge and computational power that they want at an extremely affordable price.”

Addressing the 24th MobiCom conference, Ambani said that India is home to the third largest number of technology-driven start-ups in the world, and never before has the country witnessed such an explosion of entrepreneurial spirit.

“India is a rich and fertile ground for entrepreneurship. It has already succeeded in creating a healthy ecosystem to nurture entrepreneurs, especially young entrepreneurs. Most significantly, it has emerged the fastest growing start-up base worldwide,” he said.

Having missed the first three industrial revolutions (Coal/Steam, Electricity/Oil and Electronics & IT) now is the time for India to lead the ‘fourth revolution’ which is marked by a fusion of technologies straddling the physical, digital and biological worlds, Ambani said.

Digital drive

Ambani, who is also expanding his telecom venture RJio, said that India needs to prepare itself for a period of information and digital abundance. Indians will have access to quantum computing on the cloud, and access to all the information on the planet.

“We need to adapt ourselves to the scorching pace of innovation and learn to collaborate on scale. As computational power gets faster, so do networks and sensors, AI and robotics, 3D printing, synthetic biology, AR/VR, Blockchain…all these technologies are accelerating in speed, rate and power,” he said.

Talking about rural areas, he said that over 60 per cent of Indians still live in villages and by 2050, there will be 300 million more Indians to feed. Today, average farm yields are about 20-30 per cent of the best global yields. Therefore, there is both a pressing need and a golden opportunity, to create a digital green revolution — an evergreen revolution, he added.

Published on October 30, 2018
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